mohan.sic bro, i may not be the right person to answer your query as i've never tried volume based trading, i prefer price action based trading in intraday. volume based trading is more suitable for equity segment as it is pure indian market trading but when it comes to commodity segment all goes in vain bcoz there comes the USD/INR factor which cannot be ignored. lets take an example, nymex is going down, then theoretically mcx should also go down but if USD is going up then despite of high seller volume, mcx will not show similar action.
here's a chart of crudeoil dated 18/3/19. nymex didn't broke 15th march low but its broken in mcx, and look at the volume bars. Then how an intraday trader take decision only on volume chart.
do correct me if i'm wrong. experts please throw some light on it, i'll also learn something new.
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here's a chart of crudeoil dated 18/3/19. nymex didn't broke 15th march low but its broken in mcx, and look at the volume bars. Then how an intraday trader take decision only on volume chart.
do correct me if i'm wrong. experts please throw some light on it, i'll also learn something new.
View attachment 34340
Hi vishal,
You have already given the answer from your perspective. Thanks for that and I will conclude on that topic.
I think my post created a little confusion, as I see it in your reply. Will try to clear it.
Volumes based trading : Its not about volume bars on the bottom of the chart. If you notice, I mentioned -order book reading, reading volumes vis-à-vis price up ticks, downticks & spreads etc.. Right ?
Some traders try to do the prediction on these metrics, like you do it on price patterns.
thanks.
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