Volume or price based support and resistance – here we use both!

Volume or price based support and resistance – here we use both!

by David Coulling Comment Closed
Volume or price based support and resistance - here we use both! Many forex traders are familiar with price based support and resistance but few use volume. In this session from the forex trading webclass you will discover the power of both when used together. https://youtu.be/jXM8xgVjiB8 00:00 Introduction and disclaimer 00:00 The speaker welcomes everyone to the morning session and apologizes for the delay caused by the necessary disclaimer, which is a mandatory part of every webinar. They acknowledge some distractions due to recent price action in the market and remind viewers that trading involves significant risk. 00:30 Overview of Valen price analysis methodology 00:30 The speaker advises against using money you cannot afford to lose and introduces the Valen price analysis methodology used for market evaluation. This approach combines technical chart analysis with an understanding of fundamental factors and related markets, such as equities and bonds. Success in Forex trading, especially for the long term, requires integrating both chart signals and broader market fundamentals. 01:39 Drivers of Forex price action 01:39 The speaker...
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The psychology of trading – do you have the patience?

The psychology of trading – do you have the patience?

by David Coulling Comment Closed
The psychology of trading - do you have the patience? The tactic of trading reversals takes patience, and something you may not have in abundance. In this example we take a look at the EUR/CAD with the euro heavily overbought and the Canadian dollar equally heavily oversold on the currency strength indicator for NinjaTrader. https://youtu.be/AQqakclQlq4 00:10 Switching focus to Euro CAD pair 00:10 The speaker switches focus to the Euro CAD currency pair for a specific reason related to previous analysis using multiple CSIs. They compare Euro CAD with Euro Ozzie and mention that similar to the Pound Ozzie, there is congestion and falling trends observed in the Pound Ozzie pair. 00:45 Euro rollover and market selling pressure 00:45 The discussion focuses on the Euro rollover, indicating selling pressure on the Euro in the market. This selling is also impacting the Euro/Australian Dollar pair, showing a downward movement. The speaker questions which currency pair to monitor, noting that pairs involving the Euro often move in the same direction, similar to...
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