blott

Hi Cable Traders, While I can't say I'm an expert on the finer points of what tick volume is, I do believe the clue is in the latter part of the name:) If you care to take a look at the attached eurousd M1 chart, you will see clearly the correlation between volume and Smart Money activity (I am reliably informed that 95% of volume is produced by Smart Money activity, the rest by The Herd). You will see that a relatively high volume spike, or a relatively low volume bar (i.e. no interest by SM to go in that direction), usually preceedes a change in price. I have drawn in some RSI (4) divergence lines to help with decisions. For other non-believers in the importance of volume to future price direction, may I suggest either buying your volume data from a commercial source (expensive; one wonders why...) or finding Tom Williams' YouTube videos (cheaper) to find out what is really happening in the markets. Trading with volume is not a case of belief, like Religion; this is fact based on what one sees in front of one's eyes. Kind regards, blott

Hi Ivob, It doesn't matter when you enter. The market doesn't know that You are partially correct, only in that The Market doesn't know if your computer is switched on or not. But if you are watching the chart, Smart Money knows exactly what The Herd will do, (because we all succumb to human nature) and manipulates price to entice you to jump in. What do you think false breakouts are; the market suddenly think "Oh, that's the wrong way, I think I'll reverse"? Hah! That's what they do to get you to jump into the wrong direction, then they lock you in by going back to test if there are any more participants, before steaming off past your stops, leaving you wondering whsat happened! Or they will suddenly make a surge and you think "Yes, this is it, I'll jump on the train!" when it's a 2 bar reversal and you're left high and dry again. BTW, when I say "you" I mean "people" Regards, Mike Go take a look at tradeguider.com (no affiliate link in there :-)) There you will see VSA principles in action that will save people from making costly mistakes

Hi, Interesting theory about chicken & egg relating to price & volume. Without wishing to gt religious, I would humbly suggest that in The Markets, of any hue, (of which we are but sorry little minnows) there is one thing that comes before price and volume and that is The Smart Money. Their trading decides what the price will be and the volume is the physical manifestion of their activity, If they decide to pass on this move, then volume drops off and it's us lesser mortals you see playing. Chicken and egg conundrum solved! I learned a hell of a lot from Tom Williams and Gavin Holmes at Tradeguider dot com, and still have a long way to go, but some of the fog is lifting. Have you ever wondered why price always seems to reverse shortly after you get into a trade? :doh: That's the trap that Smart Money know we will fall into every time...! Better learn how to read volume! Pattern and cycle trading are good too, but volume gives you that extra edge. cheers, Mike

Hi Sharehunter, You can get an understanding of why volume is so important, whether in stocks, futures or Forex, because it its release is either delayed (except to the Big Boys/Girls) or costs an arm and a leg to buy! In Forex, MT4 shows tick volume, which while it does not tell you just how much was traded, it tells you the RELATIVE amount of traded on that bar compared to volumes on all other bars. And, as 90% of the volume is due to Smart Money, one should pay attention to the volume! If high volume on an upward move does not result in further rises, then it shows that a lot of that volume was selling by Smart Money too, putting a cap on the market and probably indicating a reversal, or at least a pullback to test a previous level before continuing up. Now you know why Smart Money does not want you to know what they are doing and why real volume is an expensive secret :-) Regards, Mike

Hi Ariel, Glad you're getting sorted out with Kor. There is another very good free harmonic trading softwasre from Dustin Pass, called Elemental Trader (elementaltrader.com) and it's free too. Just register with him and you'll get access to the s/w. I have them both running on my charts, and when I see both coinciding, then I know I have a pretty good pattern. But, I still look at relative currency strengths, fib pivots and volume before I make a decision. Elemental Trader also have a currency scanner which displays which pairs have patterns on various time frames, refreshing every 5 minbutes. As for origins of harmonic trading? I would say Fibonacci I wish you well with your research. Kind regards, Mike

Hi Missy, I think that link to is the V5 manual. The link I gave is to the actual software, which I think expires end of August. But, I'm sure if you revisit the link in Sept, he'll have a newer version Have a nice weekend, Cheers, Mike

Hi Ariel, Have you tried this page? korHarmonics 6.7.13 That should be the latest version. Cheers, Mike

Hi Ariel, The latest version is V13. I forget now where I downloaded that from, but I'll make some enquiries and let you know. Cheers, Mike

Hi Ariel, I am using V13. The red/green oblong boxes are (I think) previous S/R clusters, where reversals may occur. Where the patterns end are the potential reversal points. I find them usually quite accurate, but you may also be advised to consider whether other signals coincide. I hope the attached pics re of help. Mike

Hi Ariel, I use korharmonics pattern software. It's free, but he does ask for a contribution to development costs, and there are free updates/improvements. Try korHarmonics I find them pretty good, combnined with other indications like S&R, candle patterns, volume indications, pin bars etc. Regards, Mike