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Is volume a good indicator of price action


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Hi all,

What indicators do you use to gauge price action?  I basically want to know which markets generally have bigger price swings.  This must be partly dependent on the popularity of the market and how many traders trading.  An overview that doesn't involve measuring the size of individual candles would be useful.

Thanks 

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I'm trying to decide what makes me pick a market to trade on.  I've been sticking to GBP/US dollar more out of habit than anything but there are markets with considerably lower margin requirement so if the price is moving sufficiently on those why wouldn't i trade those instead..

Thanks

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1 minute ago, u0362565 said:

I'm trying to decide what makes me pick a market to trade on.  I've been sticking to GBP/US dollar more out of habit than anything but there are markets with considerably lower margin requirement so if the price is moving sufficiently on those why wouldn't i trade those instead..

Thanks

 

Don't use volume as a criteria :)

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Well that's an answer at least :) Its like if you want to compare the rate of price change between markets do i just have to measure between two for a set period of time.  In the longer term there will be differences.  Haven't looked for a while but the DAX had crazy price jumps over last few months.  40-50 points in an hour wouldn't be uncommon.

 

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3 hours ago, dmedin said:

Candlesticks are pretty good.  Have you read Nison's book?

No I haven't read any books, but I am a fan of heiken ashi candles. Maybe I might actually get somewhere if I actually read some actual books. The internet is 75% **** on this subject.

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