Euro Action 6-7-10

Overnight Review

This week's goals:

1. Only trade on an identified crystal clear intraday theme, add on winning positions, stop when trade does not go as expected up to 1/2 of profit target range.
2. Study high ATR / low volume signal in Euro
3. Study Pound's intraday structure as well (today's structure has very interesting high ATR/ low volume reversal signals in 6b_F)

~More as the day progresses...~

ATR vs. Volume in Forex Crosses

Recently I've noticed that ATR can be displayed as a histogram in TOS's (thinkorswim) platform. You can't do that in stockcharts.com/freestockcharts.com etc, so I compared ATR (1) to volume in currency futures and found out the strikings similarities!

Conservatively,

VOLUME = VOLATILITY in forex.

This would be greatly benefit trading in pips and not ticks since there is no volume in forex.