The currency array indicator reveals so many things. Strength of trend, strength of buying and selling across the complex and universal sentiment to name a few!
https://youtu.be/IXHjWsjmQNk...
The crossover from one session to another is one of the most profitable times for the market makers and here's why. We looked at the GBP/JPY at the start of the London forex session and saw the volatility which is ever present at such times. Now we can see the trap has been sprung and the market has reversed sharply. All those forex traders who jumped into this pair on FOMO, the fear of missing out, on the initial rapid move higher are now trapped in weak positions and regreting their decision.
https://youtu.be/yIJzb79MbPc...
The crossover from one session to another is a dangerous time for forex traders and an extremely profitable one for the market makers. Why? Watch the video to discover why and what you are likely to see at every such period of the trading day, particularly in the Far East Asis to London crossover and later when the US markets open. Note the importance of having the volatility indicator from Quantum Trading which triggers in real-time and gives an instant warning of volatility in the market. The indicator works on average true range and its power lies in forecasting what is likely to happen next which is either congestion, or a full reversal in trend.
https://youtu.be/8CI9gn59Tec...
An analysis of the ten minute chart for the GBP/JPY currency pair using volume price analysis and the Wyckoff methodology.
https://youtu.be/V_6eTRlpyhc...
In this morning's forex trading session we saw the first signs of a change in sentiment following the panic selling of the last few weeks, with risk currencies and safe haven flows sending strong signals of this change. Volume price analysis confirms using Wyckoff's three laws of supply and demand, cause and effect and finally and most importantly effort vs result.
https://youtu.be/HE1j44W55LY...
In these unprecedented and dramatic times for markets, traders and investors volume price analysis has never been more appropriate and we had a great example on the 3 min chart for the WTI contract for April.
The chart is vpa 101 where following a move lower from a strong resistance line we have a candle with a deep upper wick and very high volume not only confirming the move lower but also providing a potential point of entry. The minor correction higher is on falling volume thereby validating our initial analysis.
By Anna Coulling...
One of the relationships I cover in my free forex webclass is that between oil and the Canadian dollar, and it has never been more important following today's dramatic price action for both crude oil itself and broad market sentiment. So with equity markets in free fall along with oil, the CAD/JPY pair has delivered some wonderful trading opportunities, along with several others in the Canadian dollar complex. The combination of risk-off and oil has driven the pair lower still following the gapped down open under heavy selling as seen on the daily chart. Over the next few days it will be a question of watching the related markets of oil and equities for any recovery in the Canadian dollar.
You can discover more in my FREE forex webclass where I cover this in more detail and teach five trading ideas to help you in your own forex trading. You can join me by clicking the link here http://bit.ly/3cB64cH
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As I mentioned yesterday history will judge whether this week's action by the FED was prudent or foolish but what cannot be denied is the effect on the US which is free fall and looking to move towards the 96 price point. This makes today's non farm payroll release even more important as a strong number should give the USD some support. The weekly chart for the DXY shows the extent of this week's move as well as the downside levels ahead.
And it's the nzd/usd which has been the strongest of the majors this morning as we can see on the charts below.
Check out my free web class for 5 lessons you can apply today: http://bit.ly/3cB64cH
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It's been a day of weakness for the Aussie yen as risk-on sentiment evaporated once more, with markets remaining fragile and nervous as each day reveals fresh news on the current virus sweeping the globe. As a barometer of risk the AUD/JPY is always one currency pair that reveals this sentiment clearly, with the Aussie dollar considered a risk currency and the Japanese yen a safe haven. This weakness was signaled earlier in the week with the failed effort to rise on high volume and now followed by a bearish engulfing candle.
I explain this in more detail in my free forex webclass - click to join here...
The crossover sessions in forex occur when trading in one timezone closes and another opens and can be a very dangerous time for traders. Why? Because this is where insider traps are set. The London open always is a fertile ground and there was a great example on the usd/jpy.
Heavy buying in the pair on the previous day resulted in a nice move higher in Asia with the pair moving into consolidation ahead of the London open.
Prior to the open the pair started to move higher on reasonable volume but reversed lower at the open on high volume until the hammer candle, again on high volume pushed the pair back towards the consolidation (the yellow line on the chart).
I explain this in more detail in my free forex webclass - click to join here...
