The 5 minute chart for cable has several volume price analysis lessons. First, the fact we have to wait for signals to be confirmed and this is the case in the uptrend. The weakness is signaled clearly on high volume. This is followed by further signals of weakness as the move runs out of steam, before the reversal duly begins. Then in the downtrend as the reversal gets underway we see the clear re-entry signals and opportunities to jump on the trend if we missed the initial signals.
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Two volume price analysis lessons in one here on the daily chart for the GBP/JPY. First, we see rising price and falling volume as the rally of late March stalls as a result. This is an anomaly as we should expect to see rising prices supported with rising volume if the trend is to develop with real momentum. Then we move into the congestion phase. Note the fall in volume as price action narrows and trades around the volume point of control. Now, all we need to do is wait and be patient. The breakout will come in due course, and be confirmed as genuine or false with volume.
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A terrific trade on cable this morning and if you missed the first signal, a second followed! This is the power of volume price analysis which works in all timeframes and all markets including forex.
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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...
Using multiple time frames to identify and capture trading opportunities is made a lot easier with the best forex trading indicators and we have had a great example earlier today on the gbp/cad.
Using a combination of the hourly chart for the Matrix and 15 min chart of the Array resulted in a 200+ move in these highly charged markets.
The indicators were supported with a 3 pip Renko and 3 min time chart.
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