DislikedI may be wrong, but I think MT-4 displays the bid price.Ignored
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DislikedI stand corrected, gentlemen.Ignored
DislikedThanks for the spreadsheet ScottyB. Someone mentioned you have been watching futures too long, do you trade futures? Or just watching futures for the additional info and applying it to trading currency?
Clever posts in the other forum
I have been teased about that dude my whole life! Yes it's my real name, no I don't like cool-aid, no I have never been to Guyana, no I don't know what my parents were smoking when they decided to name me that!Ignored
Disliked^ Cheer up, could be worse.
DislikedDon't forget these charts. I think they could be really helpful.
Carnegie, you said no charts, but these kind of charts are OK though, right?
I'm studying my ass off to understand it all. Will report if I find something useful.Ignored
DislikedI was worried in the other thread that you had no clue who Jim Jones was. I couldn't resist having a little fun with it.
No problem with the spreadsheet. I hope it helps some folks understand a little more.
Futures..Yes, I look to the FX futures for data, and execute through Oanda. The central exchange, real volume info, time and sales ect. is extremely valuable if you know what to look for.
I was a little disappointed that the other thread gave up on the chart aspect of OF. There was one dude who was getting pretty close to what can...Ignored
DislikedHi, love the discussion... where do you get these charts? I am very interested in understanding this process, and I am a visual learner.
Any help would be appreciated.
DislikedOnce you identify this on the chart, you need to ask why those orders are there. EU is starting to "move sideways" on the chart around the 1.37 level. The market kept pecking away orders in the 3670-3690 range. The market had several goes at this level and could not break it for a whole day. So what in the world is going on? Are these in-fact new sellers all of a sudden who have all there massive buy stops above 1.37 somewhere?
You can't just look at a consolidation and assume there are mega stops there. IMHO I believe these are actually longs...Ignored
DislikedIt looks like this chart is from last night/this morning. IFR said there was a DNT option with the topside barrier at 1.3720. So it looks like it was an option defense. I could be wrong, though.Ignored
DislikedI have noticed sometimes that on the 5/15 min chart we have spikes up in price, from nowhere.. price moves 20-25-30 pips up on one single candle (sometimes more.. but for some reason.. NEVER WITH A RETRACEMENT ) and then the move get's faded 100% and sticks around the same area it moved up from. Then it usually trades in the other direction. I.e. if it moves up and gets faded, it continues to move down.. Why is that do you think?Ignored
DislikedIn your example it appears that there were buy orders 20-30 pips above where price was that were sufficient enough to be filled but not sufficient enough to consume latent and other market sale orders. The market moves up to fill the demand and then drops to quickly fill the subsequent vacuum. There is a vacuum because those buy orders were filled and there are no other orders to be met except back in the 1.00 level. Or better said, there is a "vacuum" because buy orders at that level are now exorbitantly out of proportion to sales at 1.00.
I am thinking about this in another way now. You see Darkstar pointed out that his learning was thru good understanding of markets and CindyXXXX pointed out a couple of days ago the function of the market (supply and demand). What I did was go out and read allot about supply and demand to understand it.
I really think we need to learn the REAL BASICS before moving on. The way I see it; price equlibrium is when the demand and supply curve cross eachother. That's when most of orders are traded and that's the most liquidity...Ignored
DislikedYes, this entire order flow stuff is very complex.
Understanding the markets really well is indispensable to determine a lot of different conditions and to recognize the noise.
1000s of hours can help to improve the experince and how to adopt this knowledge into a useful trading approach.
But without the right tools that help filtering and monitoring other participants, that would be very hard.
Naked charts don't provide enough information.
After the fact, anybody can say or interpret: hey here was a stop hunt,look at that "spike".
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