Since posting the above, the DXY has managed to test the volume point of control but is looking to close out today's trading session as a long-legged doji candle.
By Anna Coulling
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In this video we explain how to dig out reversal trades in forex on the NinjaTrader platform using the currency strength indicator and the currency array indicators from Quantum Trading.
https://youtu.be/Y8jiXsiiALU...
The world is watching the US markets today and no doubt over the next few days as the US Presidential election reaches its conclusion. Expect plenty of volatility and the focus will be on the US dollar where the currency array and currency matrix indicators come into their own.
https://youtu.be/fwHmbnfqqDI...
How do you choose the best currency pair to trade? And what do we mean by best? Most of the time we are looking for strong trends, either a reversal in sentiment where the trend reverses or the continuation of an existing trend. But how do we know which is likely to deliver the strongest trend, and the answer is simple. We match the strongest with the weakest and in doing so are likely to see the strongest trend as a result. The indicator we use to do this is the currency strength indicator which highlights instantly and visually which currencies are rising strongly, which are falling strongly and just as important those which are moving sideways and therefore have neither strength or weakness.
https://youtu.be/rS6hgiODSCA...
All trading opportunities are not equal and in this video from the London forex trading session we explain why, and more importantly how to identify those which are strong and those which are weak, and so pick the one which has the greatest momentum in the trend.
https://youtu.be/6L1nBBTYkTs...
Discover how to trade volatility by looking to the cross currency pairs and this morning in the London session, this was a good example. Many forex traders would have been focused on the GBP/USD as the news was released with consequent whipsaw price action. However, moving to the GBP/AUD delivered some real trading opportunities with lower risk.
https://youtu.be/bv6Y5Sylt7A...
In this video we explain how to create your own currency matrix for tracking the currency majors in all timeframes. Using this approach you will be able to quickly assess the strength or weakness in the US dollar and whether this is universal across the complex. In addition this also offers a multichart view of volume price analysis across the pairs and helps to confirm your trading decisions. This approach can also be applied to any other of the currency pairs in the same way, so you may wish to create a Japanese yen complex, a euro complex etc.
https://youtu.be/ZQinGMaiLbw...
If you don't already have the currency matrix indicator from Quantum Trading, in this video we show you how to create your own using multiple charts for the currency majors and explain how this will help you in your own forex trading using volume price analysis.
https://youtu.be/8ETgQUmrHSY...
In this video we show you how to isolate currency pairs using two of the Quantum trading indicators. The two indicators are the currency strength indicator and the currency matrix indicator and here we are using them on the MT5 platform.
https://youtu.be/_G4X9POpRvI...
