Ivobs channels, volume, and VWAP thread (EUR/USD)
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Thread: Ivobs channels, volume, and VWAP thread (EUR/USD)

  1. #1
    Hello everybody,

    I've been (day)trading forex for 15 years now trading only EURUSD in the last few years.
    I had been profitable but far after 10,000 hours of screentime I must add.
    Produced all mistakes in the publiion (and its cousins) and hopped from method to method. However, I never gave up, became more disciplined and eventually gained enough expertise it just had to get the job done.

    The reason for this thread is twofold.
    1. I believe it is interesting for myself to have some type of documentation of my method.
    2. I encountered lots of BS in my eduion as a trader and would like to offer something different

    Apart from transactions that I take and my view on the market there are things I shall discuss for certain:

    - just how do markets really operate? How can our brain operate?
    - Time, money management and emotional control.
    - The energy of channels, volume, VWAP
    - Interesting suggestions for implementation
    - a few MT4 custom indiors I created
    - etc..

    You will notice while we move that I have a completely different view about the markets and trading than what's common. For example I do not believe in edges, data or profit targets. I believe in understanding the market. That is the sole edge.

    This can become apparent while I move. I encourage individuals to ask questions and to give their own comments.

    Ivo

  2. #2
    Quote Originally Posted by ;
    quote Hi, I use FXOpen Uk.. On the other hand, the volume doesn't have to be the exact same in absolute terms provided that the highs and lows are the exact same relatively... are they? I found these to be similar among different brokers. The market (all markets) moves in 1. 2, a move. retracement, 3. Continuation (which may fail) Following the first 1-2-3 in this chart (black characters ) I anticipate a second stage down 3 at the shallower (red) trendline which I had already drawn. I look for these more shallow lines. I then waited for volume verifiion and took it. Subsequently...
    Hi,
    many thanks to the explanation.
    About volumes I believe that they are relatively similiar, I attach here a screen of M5 using LWMA 14 on volumes
    Valter

  3. #3
    Quote Originally Posted by ;
    quote Hi, many thanks for the excuse. About volumes I believe they are relatively similiar, I attach here a display of M5 with LWMA 14 on volumes Valter image
    Very usable... notice the quantity peaks right before the turns.
    Ivo

  4. #4
    Quote Originally Posted by ;
    quote I couldn't loe a reliable MT4 VWAP indior. I coded one some time back but it wasn't that good. I appreciate if you're able to share yours. All the best, Khalil
    It's called https://forex-station.com/download/f...7babfdd57d8fa7

    disclaimer: I am not connected with this site/link.

    Ivo

  5. #5
    Has the potential to go lower... No true point down 3 has been formed yet on the 5min, 15min... VWAP bending down nicely, being pulled by increasing quantity. Volume good in addition to the bigger timeframes. Maintaining a remainder of my brief open and hoping for acceleration in the day. A decent trend today makes sense after 5 days of chop.

  6. #6

  7. #7
    Dear Ivo,
    awaiting your wisdom and really appreciate you taking the time to pass some of the knowledge to steer clear of bs in teachings.
    I still think understanding to read the markets is an edge in my opinion

    Just to clarify, once I started my trading, I had been trading the 1 min charts quite accurately using a complied egy that seemed at volume. After doubling a little account, I didn't last and found a more easier and easier approach using higher timeframes once I understood that the volume is from my brokers clients. With no institutional order flow and volume accessibility I abandoned volume altogether. Even looking at vwap recently I could just not take it as it had been providing similar info I could get using a super trend indior. If you may please include in your explanations on how you overcame the fact that we just see partial volume, while the real volume has to be concealed from the typical retail trader. Thank you in advance for the information you will ideally share.

    Best Regards,

  8. #8
    Preflight check EUR/USD

    We moved 94 pips... handed the high of Friday where price had been rejected at resistance (1.236) and fell back.
    94 pips is a lot for this time of the day. . .Chances are extremely high to get a bounce up vs price going down whole day long.
    I do not predict (or ever act on prediction) how much it goes, just anticipate on shift and behave on facts.
    Trend is down, quantity is normal. Important service at 1.2250. We are not very much. Will be searching for longs there.
    Strategy: will Search for pt3 down below VWAP (approximately 1.23) but for longs around 1.225

    Ivo

  9. #9
    Quote Originally Posted by ;
    Preflight test EUR/USD We moved 94 pips... handed the large of Friday where price had been reversed at resistance (1.236) and fell back. 94 pips is a lot for the time of the afternoon. . .Chances are extremely high to get a bounce up vs price going down entire day long. I do not predict (or ever act on prediction) how much it will go, just expect on shift and act on facts. Trend is down, volume is ordinary. Important service at 1.2250. We are not very much. Will be looking for longs there. Strategy: will look to get pt3 down under VWAP (around 1.23) but...
    Hello Ivo, congrats for your new thread.
    That I appeciated your preflight checks on Aka's forum.
    I used the volume analysis few years back but it had been on futures.
    Currently I am using Oanda Uk and my volumes are different from yours.
    Can you please notify which is the datafeed that gives you the volumes exhibited on the charts you bill.
    Can you please define what you believe with pt3.
    Many thanks
    Valter

  10. #10
    Quote Originally Posted by ;
    quote Hello Ivo, congrats for your new thread. I appeciated your preflight tests on Aka's forum. I used the quantity analysis couple of years ago but it had been on futures. Currently I'm using Oanda Uk along with also my volumes are different from yours. Can you please inform which is your datafeed that provides you with the volumes displayed on the charts you post. Can you please specify also what you believe with pt3. Many thanks Valter
    Hi,

    I utilize FXOpen Uk. . On the other hand, the quantity does not need to be exactly the exact same in absolute terms as long as the highs and lows are exactly the exact same comparatively... are they? I found them to be very similar among different brokers.

    The market (all markets) moves in 1. A move, 2. retracement, 3. Continuation (which may fail)

    Following the initial 1-2-3 in this chart (black figures) I anticipate another point 3 down in the shallower (red) trendline which I had drawn. I look for these shallower lines. I took it then waited for quantity verifiion. Then I didn't like it since we got high quantity at 3rd pub but low range. . .right at support. This was while the pub was forming. So instead of heading down it formed a point up 3 of a new station. (red figures)
    So got out but using a little profit. An proper action here could also have been reverse. This is the cornerstone of my method, shoot and later see if it had been right/confirmed. When wrong: get out with little profit, BE or little loss (when overdue )

    After every BO (breakout) that the activity is grip and we wait patiently for one more point 3. The safest commerce would be to wait till after the breakout and NOT take transactions in the RTL (right trendline) unless we receive a failed breakout following an effort forming a new point 3. Profits are taken in the abandoned trendline. We believe in right and left and not up and down.

    Lots of info, all will be clear.
    Ivo

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