Trading Currency

Any financial product that offers volume information is a good candidate for Footprint charting. While spot Forex does not include true volume numbers, many traders prefer the currency futures which offer volume data like any other traded commodity. In the case of the Euro, you can see how useful this was. Even if you choose to trade spot Forex, charting the corresponding currency future can offer clues that you would not otherwise get from charting the spot rate alone.

Here we see a couple of excellent clues in this mornings Euro activity that strongly suggested a sell-off. A spot Forex chart would not have shown any of this information.

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Trapped!