Monday 21st May

by 08:48 0 comments
There was a short and long opportunity today, I missed the short and was at my part time job for the second.

The short was based on a 5min No Demand into the 50% of what was the highest 15min volume at the time. There was a distinct drop off in volume as it approached this level. Since I changed my volume study around in Sierra charts, I seem to be identifying these areas a little better as they're associated with a colour change as well. 

EUR/USD 5min

I've highlighted the volume on the 15min chart below that I used for the 5min set up. It's also worth noting the volume on the widespread from Friday as well as the increase in volume at the low today. Once the minor trend had turned and we pushed back into the body of Friday's bar there was a good chance this would be tested. We pushed above the 50% and came back to test it on a pin bar with lowering volume. The next bar was down, but this also had lowering volume before we pushed up towards the high of the day.

EUR/USD 15min



28. Forex. Trading. Music. Beer. Food. Travel.


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