USDJPY 1st strong pushing downwards
For many days there were only aggressive buyers but no aggressive sellers.
This changed in today’s Asian session when Bank of Japan Monetary Policy Statement came up.
It is not really important what the statement said. Important is what the chart did as a reaction.
Whenever I see a strong and aggressive buying or selling activity (like those areas marked on the chart), I am very interested in volumes around those areas.
So today, there was a strong selling and I was interested in the rotation which took place before the selling started.
I used the Volume Profile indicator to look into this rotation area to see how volumes were distributed there.
There was a huge amount of volumes accumulated in the rotation area.
From this Volume Accumulation area a strong sell-off started.
This is a standard setup I like to use in my everyday trading. The setup is called the Volume Accumulation Setup.
Happy trading
Dale
This changed in today’s Asian session when Bank of Japan Monetary Policy Statement came up.
It is not really important what the statement said. Important is what the chart did as a reaction.
Whenever I see a strong and aggressive buying or selling activity (like those areas marked on the chart), I am very interested in volumes around those areas.
So today, there was a strong selling and I was interested in the rotation which took place before the selling started.
I used the Volume Profile indicator to look into this rotation area to see how volumes were distributed there.
There was a huge amount of volumes accumulated in the rotation area.
From this Volume Accumulation area a strong sell-off started.
This is a standard setup I like to use in my everyday trading. The setup is called the Volume Accumulation Setup.
Happy trading
Dale
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