The foundation of volume price analysis using the EUR/AUD
In this session from the London forex session, I explain how to spot anomalous candles using the EUR/AUD pair. Spotting such candles with their associated volume is one of the foundational elements to volume price analysis. The question we always ask ourselves is simply this: Is the price in agreement or disagreement with the price? If it is in agreement, all is well. If not we start to question why and understand what the market makers are doing. Are they buying, selling, or not participating? We follow them accordingly.
The volume price analysis methodology is covered in detail in The Complete Forex Trading Program which you can find by clicking the link here https://quantumtradingeducation.com
00:05
Volume and trend analysis on Euro Aussie
00:05
The speaker reviews their Euro Ozzy analysis, focusing on volume as an indicator. They clarify previous points by demonstrating on the NinjaTrader platform. The discussion highlights the start of a trend marked by a breakaway and a preceding period of price congestion, emphasizing the importance of pivots during this phase.
00:37
Defining congestion phase and volume questions
00:37
The speaker discusses defining the congestion phase in the market, noting a further break lower. They examine volume and price action, addressing a question from Twitter about whether decreasing volume during an uptrend is inherently bearish. The speaker challenges this notion by pointing out that stocks have been rising for a decade despite such volume patterns.
01:13
Identifying anomalies in price action and volume
01:13
The speaker discusses the importance of proportional price action and volume in market analysis. They highlight anomalies where wide price movements occur without corresponding high volume, suggesting that such discrepancies need careful consideration when evaluating price shifts.
01:49
Technical signals and bullish engulfing candle
01:49
The speaker explains that an anomaly in trading is identified by a very narrow, squashed candle with high volume underneath. They use the example of the ECB, where a bullish engulfing candle formed, providing a technical signal that suggests a price increase. However, the presence of this signal alone does not guarantee the movement’s direction or strength.
02:20
Trade signal strength and duration considerations
02:20
The speaker discusses a recent downward trend that has reversed, highlighting the strength of the signal as tradable rather than just intermediate. They emphasize the importance of determining the expected duration of the trade. Volume activity, particularly a significant increase on Friday, confirmed the reversal and indicated a profitable trade opportunity, especially on faster timeframes. The segment ends as the speaker begins to describe developments from the previous day.
02:53
Resistance levels and volume point of control
02:53
The speaker discusses a resistance level caused by a congestion phase, specifically at 172, noting the significance of round numbers like 177. They mention a reasonable volume under this level and anticipate whether the price will resume the move from the trend low that began at the volume point of control. This forms the current narrative on the daily chart.
03:29
Applying daily chart narrative to other timeframes
03:29
The speaker explains that the narrative for analyzing charts remains consistent across different time frames, whether daily or faster intervals. Specifically, they discuss using MT5 and Renko charts, noting that frequent color changes in the Renko bars indicate a lack of strong divergence in the currency pair at the moment.
04:04
Multiple platforms and resistance at volume control
04:04
The speaker analyzes their current levels on a five-minute chart, noting a small cross formation that appears encouraging. They mention using multiple trading platforms and observe that the price has reached a volume point of control, indicating a strong resistance level. Despite a recent upward move, the price has approached resistance again, and the daily candle remains somewhat unclear.
04:42
Patience during congestion and key support levels
04:42
The speaker discusses a narrow trading range on the daily candle and the uncertainty about how the session will develop. They emphasize patience and note the market is currently in congestion, trading between less significant support levels (S3 and S2) and more significant ones (S4 and S6). The market is moving sideways while waiting for strong divergence on the pair. The speaker also mentions a minor technical issue and provides a website for more information on the indicators used.
05:54
Indicator resources and contact information
05:54
The speaker refers to a car similar to the ‘idiots way’ and directs listeners to the website ‘w-w-w-whoa trading calm’ for detailed information about indicators. For further inquiries, email contacts are provided: Anna at Anna cooling calm and David at condom trading. Additionally, recordings are available and have been segmented for easier access.
06:49
Webinar restructuring and US market sessions
06:49
The speaker explains that their content is divided into smaller segments and uploaded on their YouTube channels focused on occlusion and concentration. They announce a restructuring of their webinars due to the introduction of a new platform, TradeStation, and the increasing number of students from the US. This will include a new Forex session tailored to the US market, which differs from the London market and requires a different approach. Notifications about these changes will be sent automatically to those on the mailing list. The current webinar session ends with thanks and an invitation to join the next session on Thursday at 5:15 PM London time, focusing on the US markets.
08:01
Closing remarks and next session details
08:01
The speaker concludes the session by saying goodbye and expressing the intention to reconnect in the future.
By Anna Coulling – creator of volume price analysis
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