Seriously. You have to have physic powers to trade forex. Can you move a market by mind power alone? If the answer is no, then the fx is not for you.
Okay, really, really seriously. I would love to have the volume displayed. You can get the data for the euro or the dollar by themselves, but you won't get the volume for the euro/dollar pair etc.
Any chart that shows it, is not giving a true reporting picture (I would love this to not be the case.) This is according to the likes of fxcm etc. The explanation being that because it's otc and so massive it can not be reported. Has something to do with the interbanks and the interbank rates. If it was traded from one source, then it would be easy to plot volume. (This is how I have been led to understand it.)
So to answer your question. Because the markets are so massive, they trend better. Stop and res and trend line breaks work well. Any basic TA works well when you have studied the market you are interested in.
yep, ditto the above Bramble....I use channel breaks, the usual 'pattern' & consolidation breaches with intraday/short term trendlines for entry....a moving avg or two for hand holding (once in the damned trend that is ).....and very tight stops on entry, trailing em on the move.
The esoteric and/or exotic stuff is over on options. That really screws your brain up trying to work those out. Well done to the guys that do and make a living out of them. I dropped them a long time ago.
In forex none of the volumes can be considered to be reliable, for two reasons:~
Reason one:# The turnover is so huge and does not pass through one clearing mechanism only but is worldwide and OTC, that it is impossible to track it.This applies to tick, VT, VM and so on.
Reason two# As I have explained elsewhere, wheareas in an instrument it is the existence of the instrument versus its market price that is the argument, in forex the argument is further compounded by
the ability of big players to gang up on a vulnerable pair, to buy one side to strengthen it and to sell the other at the same time to help make weight.