Forex Brokers Trading Volume for Major Pairs

Yes, it is. Despite its shortcomings, volume indicator does exist in forex trading and not all traders ignore it completely. Many said that what appears in the forex volume indicator is the tick volume calculated by how much the price ticks up or down in a candlestick. That's why volume bars usually reflect the strength displayed by the price on the chart.

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In a trending market, volume usually spikes. Note the volume indicator in an MT4 chart below and see how volumes contracted ahead of the news release, then slowly rose, and shot up if the news is particularly explosive.

Contrarily, in a ranging market, the volume is usually low. For trend-following traders, these indications are important; after all, a ranging market is calm but it is very difficult to take advantage of it.

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For a trader, volume-based floating leverage is much more complicated because it's vulnerable to market changes. It's common knowledge that the forex market is full of uncertainties, so the probability of getting a leverage adjustment due to volatility changes is higher than you initially thought. Another thing is, the volume-based policy's stance towards leverage change always leads to a decrease, so traders are consistently required to pay attention to margin increase.

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We can target 10-20 pips profit and 5-8 pips loss. The following picture explains the scenario of opening a long position around the upper range with a 12-pip profit target and a 5-pip stop loss level.

Continue Reading at Easy Scalping with Volume and Price Action Analysis