Volume analysis – The Key to the Truth

[Petar Jacimovic]

Stopping volume !!!

EUR/USD >
Similar like on GBP/USD I found potential stopping volume on EUR/USD. On EUR/USD there is even point of control from yesterday at the price of 1.1310 and there is Fibonacci expansion 100% in the ABC correction, which means A = C. Notice the 2 bars after the stopping bar. Second bar is clear sign that strength came in on the market and the third bar is confirming that sellers dont have power for the lower price, It is churn bar or high effort with weak result bar = bullish.

I expect at least testing of swing high at 1.1360.

 

[Petar Jacimovic]

Bearish on EUR/USD according to 4H time frame. I found the major sign of the weakness in the background and high volume area.The price went higher but the supply came in at Friday and I found no professional interest for higher price at the moment. I am bearish from 1.1295 with SL 30 pips and target opened.

Best Regards,
Petar

 

[Petar Jacimovic]

I wanted to post my main position I got on GBP/JPY. Took sell at 132.60. GBP/JPY got very powerful pivotal point at the price of 133.25 according to the daily time frame (swing low from the massive climax in the background). I found no demand bar at the key pivotal point and good reaction on lower frames. This is my major position.
Risking only 35 pips and going for 150-300 pips. Key support on GBP/JPY at the price of 129.15.



Best Regards,
Petar

 

[Petar Jacimovic]

Today very good bases on the market. After the very good AUD/USD accumulation I found the potential distribution on USD/JPY. In this distribution 2 sessions are involved London and Asia which gives this distribution good potential. Projection of the whole base including yesterday price action is about 200 pips but since we got strong support at 99.00, exit at at 99.00 seems like a good option. Projection for this base not including yesterday price action is 100 pips, which lead us to target at 99.50.
This is example of clean Wyckoff principle and how you can trade it on the Forex. In this setup my risk is only 20 pips and I wil try to take 100- 50 pips.

 

[jpvil123]

demo trades

 

[Petar Jacimovic]

demo trades

What's the point of your post ?

Petar

 

[Petar Jacimovic]

interesting action on EUR/USD and weakness in my opinion. Key pivotal point at 1.1255 and few successful tests from that number. Watch for selling opportunities. Downward levels to watch set at 1.1223 and 1.1175.

 

[Petar Jacimovic]

interesting action on EUR/USD and weakness in my opinion. Key pivotal point at 1.1255 and few successful tests from that number. Watch for selling opportunities. Downward levels to watch set at 1.1223 and 1.1175.

London session also showed big respect for key trigger line at 1.1255. More weakness building here, i think once the price break 1.1224, we may see larger supply and potential testing of 1.1173-1.1160.

 

[Petar Jacimovic]

Pound already started distribution and weakness continued with boost of bad numbers Manufacturing Production m/m-0.9% vs -0.4%.

 

[Petar Jacimovic]

USD/JPY order filled. The price broke key pivot point at 101.66 and I started to buy. Since we got strength in the background, this should be a very good opportunity. The stop loss should be at 101.18 and TP opened. Since there is no big news for USD this week, we may see stronger USD till end of the week. Key event this week is ECB meeting tomorrow but for the USD the strongest event was ISM Non-Manufacturing PMI , so now when there is no high impact news for USD, we may expect strength on USD.

 

[Petar Jacimovic]

Also, update on my positions >

Very good progress on USD/JPY and GBP/USD > Hope that you also joined

 

[Petar Jacimovic]

Hello traders,
I I am posting you update on USD/JPY and GBP/USD. I am still holding USD/JPY buying position from 102.72. The price managed to re-test this level but there is strong point of control according to market profile at the price of 102.65. Since I read the background sentiment and strength is still active, my advice is to watch for buying opportunities. Take profit level on USD/JPY is set at 103.30.
On GBP/USD I found strong point of control at the price of 1.3300 (two-day point of control and round number).Still holding sell from 1.3369 but plan to exit at the end of day. Reason is simple, we got tomorrow morning CPI y/y and I don't want to hold position on this high impact event. EUR is awaiting ECB President Draghi Speach tomorrow and will see the result of speech and maybe establish intraday position.

Wish you good trading,
Petar

 

[Petar Jacimovic]

Hello traders,
I am posting updates on GBP/USD and USD/JPY. I still holding
GBP/USD short position from 1.3368 because at the end of yesterday I was in plus only 30 pips and since I secured position few days ago I held on the today's news .
CPI y/y came out 0.6% vs 0.7% , which is the reason why we seeing downward pressure today. Anyway, will wait end of day and close position because tomorrow we have Average Earnings Index 3m/y and Claimant Count Change. Target still the same at the price of 1.3155.

USD/JPY reacted again strong from point of control at the price of 101.41 as I expected and smart money bought again as like last week. Anyway, take profit level is still set at the price of 103.30.

EUR is awaiting Draghi Speach and I will watch price reaction and result of speech and then decide if there is any good opportunity on EUR.

Wish you good trading,
Petar

 

[Petar Jacimovic]

Hello traders,
I am posting updates on GBP/USD and USD/JPY. I still holding
GBP/USD short position from 1.3368 because at the end of yesterday I was in plus only 30 pips and since I secured position few days ago I held on the today's news .
CPI y/y came out 0.6% vs 0.7% , which is the reason why we seeing downward pressure today. Anyway, will wait end of day and close position because tomorrow we have Average Earnings Index 3m/y and Claimant Count Change. Target still the same at the price of 1.3155.

USD/JPY reacted again strong from point of control at the price of 101.41 as I expected and smart money bought again as like last week. Anyway, take profit level is still set at the price of 103.30.

EUR is awaiting Draghi Speach and I will watch price reaction and result of speech and then decide if there is any good opportunity on EUR.

Wish you good trading,
Petar

Closed GBP/USD +200 pips and USD/JPY at 103.30 +155 pips I am done for this week.

 

[Petar Jacimovic]

Hello traders,
Since I finished trading for this week I just watched news and reactions today and wanted to share 2 charts with you. After I managed to take 200 pips on GBP/USD yesterday, this currency pair found balance area (point of control) at 1.3190. I don't expect this week much from GBP/USD. From the other side there is POC at 1.3270. Most of smart investors exited their selling positions and they wait next week for new opportunities and FED Funds rate . We got interest rate decision in GB unchanged at 0.25% with potential hint that we may see further cut rate this year. Retails sales today came out -0.2% vs -0.4% but according to previous 1.9% this is bad. This currency pair is neutral to bearish.

USD/JPY doing good respecting POC levels. Strong rejection (after the US news) from POC at 101.90. I don't have any position but we may see re-test of 103.30 or 103.80.

Wish you good trading,
Petar