WOW...many questions...I will try to answer the best I can.
No. the term "order flow" refers literally to the flow of orders that come into the market. While it is not possible to actually see this, especially in a decentralized market-as is the forex market-you can "see" its affect on prices. Support/Resistance is a technical analysis term that I no longer employ and feel is useless.
a balanced order flow refers to a state in the market where all the orders (buy orders and sell orders) have been matched with each other. At this point (assuming each new order can be matched again with an opposing order) price will not move any higher or lower because both the buyer and seller have "agreed" on value...thus prices become stable. This condition can be evidenced by the size and/or shape of a given candle and can also occur inside the candle and thus be masked. It can also take several candles grouped together to "see" the balance in the order flow. A very good example of a currently balanced order flow can be seen on the GBP/USD daily chart over the past 6 days.
A daily candle does have a cycle of highs and lows...however this is NOT the cycle I am referring to when I mention a cycle of "balance-->unbalance-->balance". Again I refer to order flow and how that affects price...in fact most often the "swing points" that most refer to in technical analysis occur while the market is trying to balance the order flow.
I utilize the daily chart here on this thread so that those following along can see the post no matter where they are in the world and still have time to follow along in real time...it would not be so with an hourly chart or even a 4 hr chart. However, I do use ALL time frames in making decisions. You must understand that in looking at different time frames...you are still looking at the same thing...the only difference is how much history to the left you are looking at...and how that history is organized...the the price you see on your chart whether it is a tick chart or a monthly chart is still the same price.
I am not willing to "forfeit" anything...however I must also be realistic. I do not have the gift of "fore-sight", thus I cannot say what will happen on the next tick, much less the next hour, or day, or week. I can only try to read what is happening NOW. If I see the market is balancing after an imbalance, I will try to tighten my stop while still keeping that stop out of range of the price action. This is what I do when I am trying to "ride" the price action...because a larger or a shorter time frame may yet still be unbalanced. If I saw that the entire market was balanced at the same time (a very rare occurrence) I would simply exit at the best price I could...but I cannot say when that will be...No one can...anyone who says they know the future is a liar or a fool.
Thus I try to keep as much profit as possible while still retaining the ability to participate if the next imbalance occurs in my favor...I don't think of it as "forfeiting" as much as I think of it as "preserving" profit...Every winning trade whether 1 pip or 1,000 adds to my account balance...and ultimately, THAT is the real reason we are all here.
Disliked...is a complete cycle the highs and lows within one daily candle?...Ignored
Disliked...then do you find you only need to look at the daily close to base your decision In your EU trade...Ignored
Dislikedyou are willing to forfeit pips, in order to see how far the market will go? -is it so that you can continue reading the balance and keep the consistency of your trading plan for future trades? - (if that makes sense) thank you so muchIgnored
Thus I try to keep as much profit as possible while still retaining the ability to participate if the next imbalance occurs in my favor...I don't think of it as "forfeiting" as much as I think of it as "preserving" profit...Every winning trade whether 1 pip or 1,000 adds to my account balance...and ultimately, THAT is the real reason we are all here.