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Currency Futures

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  #730 (permalink)

London, UK
Trading Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
Adamus's Avatar
Posts: 1,085 since Dec 2010
Thanks: 471 given, 782 received

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What a nice selloff today. Market pushed right through October's swing low with no hesitation and hit a clear low volume area (weekly chart) like a magnet. Beautiful stuff. I wouldn't be surprised to see price drift down into the next volume node which may find some firm support at around 1.2950 area which could prompt price to retrace back to the previous swing low which should be rejected from there. Tough to say for certain of course but this sure is getting exciting.

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pardon my ignorance but what are low volume areas and volume nodes?

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