GBPUSD M15 – Trading US close Volatility +53 pips
Without looking at the volumes, it would be hard to notice anything different from any other session close volatility. But analyzing the volume would show in this case, that there was a market shake-out – a sudden down movement, closing on the middle/high of the bar, with very high activity. This is one professional buying pattern that usually knocks the market off instantly, and gives opportunity for low risk trades. When there was a bullish test (blue bar), a bar that tests the supply in the market, I entered when its high was broken, which was the confirmation of no supply. More demand showed up afterwards, and soon the target was hit.
Right now, the market is going up to the zone of previous supply on low volumes (even for the Tokyo session), so another dip down to the 1.315 area is possible. If volumes are kept low, this would give another long entry opportunity.