Daily trading with volume is a cycle of analyzes of prices behavior, combined with real volume which is recived from exchange base (regulated market). We invite you to familiarize yourself with the details of the project.
Hourly chart formed a upward trend. Noticeable is increasing turnover during growth. Currently, you can see that the price realized measured movement and is located around resistance 2,300 points. Lack of demand pressure in this area may lead to a consolidation or correction. The probability of a larger adjustment will increase in the event of breaking minimum of engulfing bullish formation (marked with red arrow). The level of 2270 points acts as support, probably at this point we will notice reaction of the bulls.
Chart of Gold shows pressure of supply. Quotations closed bullish gap from 23.01.2017 r. You will notice accelerating of declines. Currently the price is below the psychological level of $ 1,200. You can not see, however, higher turnover during the declines. In case of bearish reaction on testing the aforementioned area, along with higher volumes will increase chance of further sell-off, the reverse situation may signal a growing volume during while increases or bullish signals coming from the VSA analysis.
Quotations on chart H1 may indicate that the upward trend slowed down. This is evidenced by flattened moving averages EMA (75-, 100- periodic) and unregular highs and lows.Noteworthy is the last upward and downward impulse. The increases were characterized by low volume, which even decreased, while during declines situation was reversed. Current conditions indicate rising dominance of supply over demand. Support is located at 1.0700 round level. Breaking it confirmed by turnover, is likely to lead to an increase in the supply pressure and may lead to a test of support around 1.0600.
Customers of Noble Markets have access to a broad educational base on the volume in the Investor Room, among others, recordings from training with the following experts:
VSA in the Forex market – Rafal Glinicki
What moves the market? – Daniel Kostecki
Inside Bar- Maciej Goliński
All recordings of cycles of educational market experts are available for NOBLE MARKETS customers registered in Investor Room – tool dedicated to customers, which allows quick access to the unique training, educational materials, and account management.