Trading a pattern on a higher time frame lets say 30 min or 60 min bar flag takes time to play out. I dont wait for the volume to kicks in instead i would allready have position when the BO occurs. There are 2 types of risk involved when entering a trade information risk or price risk. I prefer information risk over price risk, Bcz certain pattern and behaviour on particular instrument hardly fails. Happy to take a loss and reenter opposite direction
Watching the DOM /price ladder or orderflow charts are brainf**k for me. "Most of them are just gimmicks" says Linda Raschke
I am more inclined to market profile auction market theory. Found more valuable information when break it down to 3 session Market profile.
This is how I see it.
Having a context based on concepts(market behaviour)>market structure>impulse/corrective wave>supply demand/Support resistance>price action.
Keep it simple.
Watching the DOM /price ladder or orderflow charts are brainf**k for me. "Most of them are just gimmicks" says Linda Raschke
I am more inclined to market profile auction market theory. Found more valuable information when break it down to 3 session Market profile.
This is how I see it.
Having a context based on concepts(market behaviour)>market structure>impulse/corrective wave>supply demand/Support resistance>price action.
Keep it simple.
risk management is paramount