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EURUSD 6E Euro
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EURUSD 6E Euro

  #731 (permalink)
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Adamus View Post
pardon my ignorance but what are low volume areas and volume nodes?

No ignorance by asking questions. Low Volume Nodes (LVN's) are areas where price moved out of very quickly in a break out or break down in trend. Usually very little trades took place in this area (low volume) meaning price was not accepted there. These areas can become magnets for price down the road but can also serve as support and resistance. The terms are in reference to Market Profile of course and are watched heavily by the bigger players in the market. I don't want to go into a long winded explanation but that's the gist of it.

Node is a physics term with reference to a point on a standing wave.

--------------------------------------------------------------------------------------

Speaking of nodes, price on the Euro has now reached the ledge of the next high volume node (HVN) which is providing support so far, hence the sideways action so far in RTH. Price could be getting absorbed around the 1.2970 area with the hope that more buyers step in. Be careful though, this could give way if no one steps in.

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  #732 (permalink)
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Thanks for the analysis guys...I just started watching the 6E, so keep up the analysis.

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  #733 (permalink)
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Very small daily ranges the past days on Euro. Question is if it will retrace or continue the trend. If eur/usd take out today's high, I would guess the former is most likely, considering that both weekly and monthly range have been fulfilled to the downside.

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EURUSD 6E Euro-eurusd-10-min-16_12_2011.jpg  
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  #734 (permalink)
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@aediaz1 from your charrt it looks like you're expecting a big move up. What ranges are you talking about on the daily & weekly charts, please?

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  #735 (permalink)
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Adamus View Post
@aediaz1 from your charrt it looks like you're expecting a big move up. What ranges are you talking about on the daily & weekly charts, please?

I'm not expecting that but its possible IF today's high is taken out.

Average ranges is based on different time-frames and how much a currency have potential to move in that given time-frame. I usually look back 30 periods to make an average, which for example makes the average weekly range on eur/usd is 376 pips. Nothing fancy at all

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  #736 (permalink)
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aediaz1 View Post
I'm not expecting that but its possible IF today's high is taken out.

Average ranges is based on different time-frames and how much a currency have potential to move in that given time-frame. I usually look back 30 periods to make an average, which for example makes the average weekly range on eur/usd is 376 pips. Nothing fancy at all


OK, so a 30 bar average true range, to name the indicator.

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  #737 (permalink)
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Private Banker View Post
No ignorance by asking questions. Low Volume Nodes (LVN's) are areas where price moved out of very quickly in a break out or break down in trend. Usually very little trades took place in this area (low volume) meaning price was not accepted there. These areas can become magnets for price down the road but can also serve as support and resistance. The terms are in reference to Market Profile of course and are watched heavily by the bigger players in the market. I don't want to go into a long winded explanation but that's the gist of it.

Node is a physics term with reference to a point on a standing wave.

--------------------------------------------------------------------------------------

Speaking of nodes, price on the Euro has now reached the ledge of the next high volume node (HVN) which is providing support so far, hence the sideways action so far in RTH. Price could be getting absorbed around the 1.2970 area with the hope that more buyers step in. Be careful though, this could give way if no one steps in.

I know what they are. I don't trade them, and don't believe in them since in my experience they work just as often as they are ignored. But a volume profile picture would help visualize the explanation better for those who are interested in that approach.

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  #738 (permalink)
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monpere View Post
I know what they are. I don't trade them, and don't believe in them since in my experience they work just as often as they are ignored. But a volume profile picture would help visualize the explanation better for those who are interested in that approach.

What is your experience with using them?

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  #739 (permalink)
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Private Banker View Post
What is your experience with using them?

Like I said, I could never find any high level of consistency in their usage, but I'm sure there are probably some out there who have discovered the secrets to get consistent performance out of them.

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  #740 (permalink)
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Private Banker View Post
Low Volume Nodes (LVN's) are areas where price moved out of very quickly in a break out or break down in trend. Usually very little trades took place in this area (low volume) meaning price was not accepted there. These areas can become magnets for price down the road but can also serve as support and resistance. The terms are in reference to Market Profile of course and are watched heavily by the bigger players in the market.

Would/does anyone use candle volume charting in such cases?
Just wondering if it could help anyone in this matter, or am I totally off track?

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EURUSD 6E Euro-candle-volume.png  
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