Low Volume Nodes can also be a good place to enter, since it shows that price was previously rejected there.
More information on the Composite Profile that I used in this trade can be found here.
Thursday, 20 July 2017
GBP/USD Scalping using High Volume Nodes
When price is moving it is looking for liquidity, i.e. new buyers or sellers. In this case, GBP/USD has been moving lower all day after UK retail sales figures, and on back of strengthening USD. The price is moving lower to find more buyers - this is most likely in areas of previous high volume (High Volume Nodes on the profile). I made small 10 pip scalp trade on just such an area.
Low Volume Nodes can also be a good place to enter, since it shows that price was previously rejected there.
More information on the Composite Profile that I used in this trade can be found here.
Low Volume Nodes can also be a good place to enter, since it shows that price was previously rejected there.
More information on the Composite Profile that I used in this trade can be found here.
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