A great example of the price action on cable this week from our MT4 platform. In this profile, we have the Quantum Renko indicator, which is perfect for using with time charts. A Renko chart is ideal for helping to keep us in a trade, as we can see here, as it not only reveals the momentum but also removes the inevitable 'noise' of any trend higher or lower. Multiple time frames give us potential target levels and the specialist forex indicators, namely the currency strength indicator and matrix give us an insight into the strength of flows into the pair in question.
By Anna Coulling
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Combining time and Renko charts along with our Quantum indicators can help traders find potential trading opportunities and once entered Renko charts are invaluable in staying in the trade.
A great example from a move lower in the gbp/jpy forex pair but we can apply the same principles to other markets.
By Anna Coulling
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Plenty of great trades in the yen, US dollar and Swiss franc as risk on dominates following the FED and ahead of the BOE and ECB decisions as we come to the end of the trading year, US markets determined to end the year on a high!
https://youtu.be/imLeoPSMQk4
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When it comes to levels and flow trading forex, check out the Camarilla levels indicator. Trading forex is all about levels and flow and one of the most powerful indicators to do the heavy lifting of defining these for us is the Camarilla levels indicator. In addition on both TradingView and NinjaTrader we also have the accumulation and distribution indicator - another excellent tool which can be used in conjunction with the Camarilla levels indicator.
https://youtu.be/7D3oZxmvRdI...
Currency futures and index futures really delivered in the US sessions ahead of the key FOMC release later in the day with the US dollar rising strongly and indices falling in Globex. On Tradestation GLobal using 9.5 and the Interactive Brokers feed this was all too evident across currency futures with a sea of red on Radarscreen.
https://youtu.be/MoxHDQW7sV4...
As we approach the year-end, for forex traders this represents a great time of year with plenty of volatility as volume falls in the run up to the holiday season. But this delivers plenty of excellent trading opportunities and the starting point as always is the currency strength indicator which helps to identify when a currency is overbought to oversold and hence guides you to the opportunities immediately. From there, it's off to the charts, and check out the volume associated with any moves as you look for primary to primary trend reversals.
https://youtu.be/4MuBeRHESJs...
