It is good to keep a long-term outlook and at the same time, zoom in on the details.
My top chart shows a little over a week in 30m candles. All of that is condensed in only two columns on Point & Figure chart.
Then, when it comes to forex, it is important to compare volume (proxy-volume to be exact) only with relevant sessions today, or in the previous days.
This avoids mistakes such as interpreting London or NY open as a high volume bar, although relatively speaking, it is normal that the volume increases particularly on the first candle after opening.
Of course, a high-volume bar is still a high-volume bar. But then again, it is also important to put it in the context of what volumes we can regularly see at that time...
My top chart shows a little over a week in 30m candles. All of that is condensed in only two columns on Point & Figure chart.
Then, when it comes to forex, it is important to compare volume (proxy-volume to be exact) only with relevant sessions today, or in the previous days.
This avoids mistakes such as interpreting London or NY open as a high volume bar, although relatively speaking, it is normal that the volume increases particularly on the first candle after opening.
Of course, a high-volume bar is still a high-volume bar. But then again, it is also important to put it in the context of what volumes we can regularly see at that time...
評論:
One more note: if you double click the chart or the indicator, it will maximize it in that particular window. So in the volume window, you can hide symbol price completely.