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Volume Indicator

A Significant Support on EUR/USD Failed 💣Support on EUR/USD got breached Let’s first start with looking at a Daily chart of EUR/USD. There has been a pretty significant development! Significant support (from Daily time frame) got breached and now it seems that lower prices (below this support) are being accepted. This would mean that this support will become a resistance. Currently, it is still a bit fresh, but if EUR/USD really closes this week below this support (which it already breached), then it will be a strong signal that a new resistance got formed and that strong sellers are taking over. Check out the picture to see what I have in mind. It is a Daily EUR/USD chart... As you can see from the picture above, there were many strong rejections of this support in the past. I marked them in the chart. Yesterday, the Daily candle closed below all those rejections and today’s current development gives a chance that today’s daily candle will close even lower, confirming that the support became a resistance. Let’s have a look at a lower time frame It seems that we have a strong resistance zone, but where EXACTLY to enter a short trade? In situation like this I often switch to lower time frames, preferably a 30 Minute time frame. Then I use the Volume Profile and I look for significant volume area to go short from. In this particular case, the zoomed-in situation around the new daily resistance looks like this (30 minute chart, EUR/USD) Bingo! Now we have an exact level (1.0999) from which we can go short from! We can go short with an intraday quick trade as well as with more long-term swing trade!
by Trader_Dale
Bearish Divergence| Rising Wedge| Volume Climax| .382 Fibonacci Hello Traders, Today’s chart update will be on the immediate trend of BTC where we have bearish divergences forming at key structural resistance in a rising wedge formation, which serves as a bearish pattern. Points to consider, - Immediate trend bullish - Local support at $9470.00 - Structural resistance being tested - Stochastics in upper regions - RSI putting in higher lows - Volume climax evident BTC has been putting in clear higher lows with evident S/R flips, if current local support holds; this will be another S/R flip confirmation. Structural resistance is a key level, a break will increase the trends parabola as this will put in a macro higher high. The stochastics is currently in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. RSI is clearly diverging from price by putting in lower highs, putting more emphasis on the bearish divergence. BTC has a clear volume climax bar, signalling a local top may just be in as buyers become exhausted. If volume however continues to creep up, this will increase BTC’s probability of continuing this current bullish immediate trend. Overall, in my opinion, BTC needs to remain above local support in this formation for a bullish bias. A break of local support will mean breaking outs of the rising wedge which serves as a bearish pattern. The .382 Fibonacci will then be the likely target as this area currently has an open GAP on the futures chart. What are your thoughts? Please leave a like and comment, And remember, “The expectation that you bring with you in trading is often the greatest obstacle you will encounter.” ― Yvan Byeajee
BITFINEX:BTCUSDShort
by AzizKhanZamani
7
NEOBTC Range Trading| Structural Resistance| Low Volume Hello Traders! Welcome to another update, today’s chart will be on NEOBTC, currently trading range bound where a break bullish will put emphasis on a clear higher high and a probable trend change. Points to consider, - Range bound trading - .50 Fibonacci level – strong support - Structural resistance being tested - Stochastics in upper regions - RSI respecting support - Volume below average NEOBTC is as of now attempting to break structural resistance which is in confluence with the .236 Fibonacci level, a break will put in a higher high in the immediate trend. The .50 Fibonacci level is current support which has been tested multiple times, but to be backed with buy pressure coming in. The stochastics is currently trading in the upper regions, can stay trading there for an extended period of time, however lots of stored momentum to the downside. RSI is respecting its local support (around 38), currently trading in neutral. Volume is clearly below average, an influx is required to break key levels successfully otherwise fake outs are highly probable – evidently on fist attempt. Overall, in my opinion, NEOBTC needs to break from its range bound trading, a break bullish will increase the probability of a macro trend change, and this is more likely as NEO is trading above key moving averages. An important metric to monitor is volume, which is well below average, NEOBTC needs an influx for continued follow through. What are your thoughts? Please leave a like and comment, And remember “A quiet mind is able to hear intuition over fear.” ― Yvan Byeajee
by AzizKhanZamani
1
Structural Resistance| Low Volume | Key Trade Location Hello Traders! Today’s chart update will be on big daddy BTC, which has been trading at a key trade location where a move from is highly probable before or on February 10th (measuring previous consolidation at this current level). Points to consider, - Trend testing major resistance - POC local strong support level - Stochastics topping out - RSI trading in upper regions - 200 MA retest probable - Volume below average BTCUSD’s trend is at a key structural technical level where a break will put in a macro higher high, further confirming a trend change. The POC is currently local support where BTC will most likely retrace to if the 200 MA fails to hold a retest. The stochastics is currently topping out, can stay trading here for an extended period of time, however lots of stored momentum to the downside. RSI itself is trading above support; a break will increase the probability of a retest of the 200 MA and the POC. The 200 MA retest is highly probable due to the market structure; a correction at some point is imminent. Volume on the other hand must increase and remain above average to ensure follow through in any direction. Overall, in my opinion, BTC will most probably incur a move before or on February 10th as it has been trading quite stagnant at a key trade location. A move in either direction will dictate the overall market trend for Bitcoin. What are your thoughts? Please leave a like and comment, And remember, “Events, circumstances, and experiences arise and pass away. Winning trades, losing trades, fear, greed, sadness, happiness, and eventually your own life. Everything is in a constant flux. Learn to go through it with stability of mind. A meditation practice helps a lot.” ― Yvan Byeajee
BITFINEX:BTCUSDShort
by AzizKhanZamani
ETHUSD - Possible Cup and Handle BreakoutAside from the visible possibility of a cup and handle pattern, upon tracing it out, the idea is supported by a volume decrease at the base of the "cup" and a volume increase towards the "handle". This bullish continuation pattern is further implied by fib support lines. Historical support/resistance lines indicate resistance to this breakout at approximately $300. Should $300 be surpassed, we may be able to expect a continued bullish pattern; otherwise, consider selling before the dip.
BITSTAMP:ETHUSDLong
by SolidPump
2
BATBTC Equilibrium|200 MA Support|POC Resistance Hello Traders! Happy Monday, Today’s update will be on the good old BATBTC pairings where we have an equilibrium forming right above the .618 Fibonacci, will this formation serve as a continuation pattern to the down side, or a possible bull break? Points to consider, - Trend putting in a macro higher high - 200 MA and .618 are current support - POC strong resistance - Stochastics projected upwards - RSI respecting trend - Volume below average BATBTC is attempting at putting in a macro higher low, changing the structure will come to fruition when an established higher high is in place. The 200 MA and the .618 Fibonacci are in confluence serving a strong support level for BAT. The Point of Control is a major resistance level to close above as this will confirm a technical higher high. The stochastics are in lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. RSI is respecting its trend line, nearing its apex, a break will be imminent. Volume is however currently below average, must increase in the next couple days as the equilibrium comes to an end. Overall, in my opinion, a break in either direction is probable; a break bullish will confirm the macro higher low, thus confirming a trend change, BATBTC does need an influx of volume for continued follow through. What are your thoughts? Please comment a chart you’d like me to analyse =), And remember, “Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.” ― Yvan Byeajee
by AzizKhanZamani
1
LTCBTC Bull Flag| Volume above average| Key Resistance Hello Traders! Today’s update will be on LTCBTC where we have had a bull flag breakout currently testing structural resistance, a close above this will confirm a trend change. Points to consider, - Resistance to break - Bull cross imminent 200 MA & 20 MA - Stochastics projected up - RSI respecting trend line - Volume above average - VPVR decreasing in transactions LTCBTC is testing a key structural resistance, a close above will confirm a trend change putting in a higher high. Bullish cross is imminent of the 200 and 20 MA, further puts emphasis on the probable trend change. The stochastics are projected upwards, can stay trading here for an extended period of time, however lots of stored momentum to the downside. RSI is respecting its trend line, coming close to its apex signalling a break it imminent. The volume is above average which looks healthy, must sustain when LTC breaks structural resistance for follow through. VPVR is decreasing in volume of transactions from structural resistance and above, signalling low levels of resistance in terms of volume of transactions. Overall, in my opinion, LTCBTC’s bullish MA cross may propel to break structural resistance. A close above will confirm trend change with a new higher high. What are your thoughts? Please leave a like and comment, And remember, “You have power over how you'll respond to uncertainty.” ― Yvan Byeajee
Long
by AzizKhanZamani
3
JSE:RMI Rand Merchant MarkdownFollowing Rand Merchant Investments distribution and markdown (see posts below) since 2018 price has marked down significantly. Volume has been increasing on declines and decreasing on increases. RMI is weaker than the market. Price is now approaching a significant volume node from the previous markup. However, there has been no significant volume spike indicating a selling climax so price is expected to continue declining. However, one should watch for significantly increasing volume indicating buyers stepping in.
JSE:OUTShort
by SteynTrade
AIONBTC Bullish Divergence| Increasing Volume| Key Resistance Hello Traders! Today’s chart update will be on AIONBTC where we have visibly increasing bull volume as structural resistance gets tested. Points to consider, - Trend still range bound - Structural support – Accumulation - Structural resistance yet to break - Stochastics in upper regions - RSI at overbought - Volume increasing AION’S trend is still range bound; it needs to break structural resistance promptly to allow the trend to put in a new higher high. The structural resistance is a key trade location where a close above, will further confirm a bullish bias. Support has held AION successfully as accumulation was visible with the extreme volume coming in and staying above average. The stochastics is currently in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. The RSI is trading in overbought territory; a correction is imminent to cool of the indicator, more probable to test its support. Volume has been clearly increasing signalling bulls are in town, this needs to sustain for follow through. Overall, in my opinion, AION needs to break structural resistance promptly with a confirmed daily close to keep a bullish bias – volume is looking extremely bullish. What are your thoughts? Please leave a like and comment, And remember, “Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.” ― Yvan Byeajee
ALong
by AzizKhanZamani
XLMUSD Key Resistance|200 MA| Trend Change ProbableHello Traders Today’s chart update will be on XLMUSD testing a key Resistance, the 200 MA, where a break will increase the probability of a confirmed trend change. Points to consider, - Short term bulls intact - 200 MA, major resistance - Structural support respected - Stochastics in upper regions - RSI respecting support - Volume declining XLMUSD’s chart indicates that the immediate trend is bullish with consecutive higher lows being established. Major resistance level is at the 200 MA average, where a break of it will further confirm the trend change. Structural support has been respected putting in a clear higher low in the current trend. The stochastics are currently trading in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. The RSI is respecting its trend line, a break of it will increase the probability of a rejection from the 200 MA. Volume is clearly declining, signalling a breakout is imminent which will come to fruition with an influx. Overall, in my opinion, a break above the 200 MA will be a very bullish indication of a confirmed trend change as XLMUSD will put in a macro higher high. But this does need to be backed with strong bull volume. What are your thoughts? Please leave a like and comment, And remember, “A quiet mind is able to hear intuition over fear.” ― Yvan Byeajee
COINBASE:XLMUSDLong
by AzizKhanZamani
JSE:ANG Anglogold Re-accumulation CompleteAnglogold has undergone a re-accumulation trading range. After a buying climax (BC) at the end of August 2019 accumulation has taken place at the lower half of the trading range. A spring with test has taken place in November / December 2019 with minor signs of strength towards the end of 2019. Volume has declined on the pullback and today we have seen some ease of movement to the upside on a small volume increase. The markup in phase D is set to continue.
JSE:ANGLong
by SteynTrade