Get started

X-volume

NZD/CHF: Volume Profile 📊 and Price Action Analysis 📋Hello guys, today’s day trading analysis will be on NZD/CHF. There is a very nicely looking volume-based setup called the “ Volume Accumulation Setup “ First, there was a rotation in which heavy volumes got accumulated (traded). You can see the volumes on the Flexible Volume Profile indicator below. Then, after the big guys (trading institutions) placed their big trades there, they pushed the price upwards into an uptrend. This uptrend tells us, that the volumes placed in the rotation (blue rectangle) were Longs. This is an information we can work with. Now we know where strong institutional buyers placed a lot of their Long positions. It is around 0.6430. This are is now very important place for them. When the price makes it back to this heavy volume area again then, those buyers will want to protect it and to push the price upwards from there again. Most likely from the place where they placed the most of their positions (0.6430). The Bigger Picture – Weekly Volume Profile Let’s now check the bigger picture and have a look at the Weekly Volume Profile. The Weekly Volume Profile shows how volumes were distributed throughout the whole week. I always check this profile with all my intraday trades. The ideal scenario is when the trading levels I pick are nicely visible there. The reason is that the Support/Resistance will not be important only for traders on the lower time frames, but also for traders who are trading higher time frames. In this case, it couldn’t be better! Our 0.6430 Support lies exactly at Point Of Control (POC) of the week. This means that the heaviest volumes this week were traded there. This makes the 0.6430 a very important. The Weekly POC is a very strong place to trade from, even if it was just on it’s own, without any other signals/confluences. Price Action Setup Another nice confluence is a setup called Resistance →Support . In short, it says that when a Resistance gets breached it then becomes a Support. This is one of my favorite Price Action Setups. If you look at the picture below, you can see that the price bounced very strongly of the 0.6430 area in the past. This means it was a Resistance. Then, as the Resistance got breached it then became a Support. Summary All in all we have three signals that confirm our 0.6430 Support. They are: 1. Volume Accumulation Setup 2. Weekly Point Of Control (POC) 3. Resistance → Support Price Action Setup I hope you guys liked today’s analysis. Let me know what you think in the comments below! Happy trading! -Dale
by Trader_Dale
Very detailed direction forecastI put together this very detailed forecast based off chart pattern picked up on. I numbered my steps in detailing the chart to create a legitimate visualization for all to understand. 1. We see continuous rejection at 127.000 with an eventual high volume pivot. 2. We see continuous support at 126.000 keeping the trend within the straight channel between support and resistance. 3. Off the support pivot we see a break through 127.000 to be rejected at 127.500 creating new top resistance. 4. Off top resistant rejection we see a strong sell off that flew through 126.000 support with continuation. This sentiments true sell off loading up from 127.500 rejection. 5. I am watching for a market open pullback to create first weekly resistance. I sentiment this due to how far the RSI breached oversold. For continuation RSI will trade in and out of oversold zone. 6. First support retest is at 125.000 with a safe sell entry point below as long a breach and close out occurs on 1 hr. 7. A break and close out below 124.500 will create massive seller volume for a second sell entry to retest next major supports at 123.000 and 122.500. If momentum is strong enough a final retest will occur at 121.500. Attached is my previous sell that had TP at 126.000 which smashed through hence my heavy sentiment for this trade. Any strong supports pivots at my first major supports may aim to channel resistance. Please observe carefully following my steps and comment with any thoughts and ideas. Thank you.
Short
by Pika7993
3