As the London forex session gets underway, we start with several of the forex specific indicators, such as the currency strength indicator, the currency array indicator forand the currency matrix. In this video we are using the MT5 trading platform, and then move on to consider some of the basic principles of volume price analysis applied to the forex markets and using Wyckoff's three laws.
https://youtu.be/FT7KeJBAZv4...
There are many traps set for the unwary forex trader and the London session crossover is one which occurs each day at precisely the same time. It is immensely profitable for the market makers as so many traders are unaware of this simple trap which plays on the fear of missing out, or FOMO. The volatility indicator is much in evidence and signals either congestion or a reversal from primary to primary trend.
https://youtu.be/8CI9gn59Tec...
Strong safe haven flows into the Japanese yen confirmed on the hourly chart of the Currency matrix with heaviest flows into usd/jpy and cad/jpy, the latter also suffering from a sharp fall in oil prices. The matrix indicator ranks the performance of all the 28 pairs featured and highlights potential oversold and overbought trading opportunities.
Note also the numbers next to the pairs and the values reflect the strength of the move. In other words, the higher the value the bigger the move.
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In the London forex session we explain how to apply some of the currency trading tools and indicators for MT5 and Ninjatrader on time based charts, before moving to the renko indicator with the trend monitor and trends indicators.
The currency in focus was the euro across the complex with strong moves for the pound and the US dollar.
https://youtu.be/kkPpVhA-AQg...
The trends in the London forex session continued throughout the morning and into the US forex session with the GBP/NZD in focus. We also take a look at commodity currencies and support and resistance using both MT5 and the NinjaTrader accumulation and distribution indicator.
https://youtu.be/cL_tbBavRjo...