FOREX PRO Weekly May 21-25, 2012

[squidge42]

Well, on spot forex this is impossible, since you do not know tick volume. You may be see volume of just your broker.
I do not use it very often, mostly as confirmation. )

thanks
yes i meant to add that, it's only your brokers volume you see, but have been told that if you use a big broker like alpari etc. it's usually fairly representative

 

[Sive Morten]

The pair hit 1.2494 today. Sive, do you think this level satisfy the objective requirement (since there are no exact figures, only levels-bands) and a correction is now in order?
Thanks.

Well, now we just hit an area. It's better to wait and if retracement will start - follow it. While we have no signs yet, retracement prediction could cost too much to our accounts.

thanks
yes i meant to add that, it's only your brokers volume you see, but have been told that if you use a big broker like alpari etc. it's usually fairly representative

Hm, I didn't check it, so I do not argue. But it seems that you need to check it with trading volumes of at least major banks to state that. I have some doubt, since hardly Alpari has even single client at least with 1 mln. USD account, while, Deutsche Bank has a lot of them. That's why I'm not sure that Alpari could represent volumes of Forex Market. As you understand, clients with huge accounts have different tasks and trade differently than those who have 50K accounts.
Different way is to check Alpari volumes with futures market. It will be simplier.

 

[Ivan Helfman]

Different way is to check Alpari volumes with futures market. It will be simplier.

Hi Sive,
Do you consider netdania.com's volume usable? I've been factoring their on balance volume indicator into my entry decisions.

Ivan

 

[Sive Morten]

Hi Sive,
Do you consider netdania.com's volume usable? I've been factoring their on balance volume indicator into my entry decisions.

Ivan

Hi Ivan,
unfortunately not, In fact, as you can see with our researches I'm not often use any volume indicators.