London forex session using volume price analysis

London forex session using volume price analysis

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...
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Canadian dollar crushed as oil prices tumble

Canadian dollar crushed as oil prices tumble

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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Great VPA lessons on the CAD/JPY

Great VPA lessons on the CAD/JPY

Some classic price action on the CAD/JPY daily chart and in particular several volume price analysis lessons to take away. First, note the volume anomaly on the wide spread up candle. Volume is average and therefore the market makers are not participating as the trap is prepared. Clearly volume and price are not in agreement and a sure signal of weakness ahead. The price waterfall duly develops and note the rising volume in a falling market confirming the strength of the trend. Finally in the last few days we have had a two bar reversal on good volume with the currency pair looking weak. And remember, the Canadian dollar is closely associated with oil and with the recent fall in oil prices, this has also been reflected in the currency and one of the topics I cover in my free forex webclass. I explain this in more detail in my free forex webclass - click to join here...
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Crossover session traps

Crossover session traps

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...
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