EURJPY - Be aware of Volume - Unusual High Volume during ASIA hours

Training Lesson 9 - "Be aware of Volumes"

This is something that only an experience "Eye will catch" unless you use the Weighted Volume future. In this chart it is easily identified because I have made the markings.

Look at the yellow squares in between the horizontal red lines which mark some of the ASIA hours.

  1. What do you see ? The Last yellow square+triangle during ASIA hrs (2nd triangle from right) has the highest volume on the entire chart (on the specific hrs) and it is not just news because high volume continues for a few hrs. If you look at the bottom indicator which uses the Weighted Volume feature it is more clear because it is the highest volume on the entire chart.

  2. What does it mean? It means change on behavior

  3. Where to? Long or Short? Most probably long, because we have again high volume on the retracement as price starts to go down again (1st triangle from right).

  4. If we break the Significant Level Up line upwards we are going long for a while. If we break the Significant Level Down then have to reconsider.

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