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USDJPY long levelsI said it at the beginning of my book – indicators are quite useless. Big institutions don't care about them. Also, standard indicators work only with "price" and "time". For that reason the information indicators provide are always delayed. Novice traders need to accept the fact that there isn’t a magic combination of indicators that would make good and profitable trading system. Only Volume profile can show you TRUE Support and resistance. Because combinate more information about how market iniciated moved. Watch my intraday levels from my Members section.. Take profit = 10 pips Stop loss = 12 pips Happy trading Dale
by Trader_Dale
NZD/CAD short from 0. 8767This trade idea is based mostly on a Trend setup. There is a strong downtrend on the NZD/CAD right now. In such case, I look for volume clusters that were created within the downtrend. Such a volume cluster as around 0.8767 shows us that sellers were adding to their selling positions there and that they continued pushing the price lower from this area. When the price makes it back to this area again (pullback), then those sellers are likely to defend their positions and push the price lower. Another confirmation of this level is as Support becoming resistance Price Action setup. Quite near our short level, there was a pretty strong rejection of this level in the past – marked in blue. This indicates that it was a strong support in the past. When the price went through this support then it became a resistance. There is one more thing about this level which I like – it is the pinbar candlestick (I marked it in the red rectangle). This pinbar shows us aggressivity of sellers, which again confirms the idea of a short trade from 0.8767.
by Trader_Dale
AUD/CAD short from 0.9616This short trade idea is based on the Volume accumulation setup. I think that a lot of short positions got accumulated in the heavy volume area around 0.9616. I think this because the price shot aggressively downwards from this place. When the price makes it back there I expect that sellers will be defending their selling positions and that they will push the price downwards again. There is also one more trading setup present there. It is called the “Open-drive” and I write about it in my new book.
by Trader_Dale
3
EURUSD long magnet zone You can see strong side way price action after trend up... There was a volume accumulation area from which strong buying activity started. For that reason I think that the volumes accumulated in this area were volumes of strong buyers. I waited for pullback to this area. When market go back to this area strong buyers will be defend their positions. I think EURUSD 0.15% is ready for correction higher. Because we are in the strongest Volume accumulation of THE LAST YEAR!! This is second reason why i want search long position too.
by Trader_Dale
1