{quote} initial balance is something that i have on my radar aswell that will help me understand the out look for the session and the day because what i have seen is that smaller IB = larger range days bigger IB = less range expension days
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That's something new to learn for me, i haven't looked for it. I usually look for breakouts or failed auction according to my bias. Never looked at it in this way.
Guys any thoughts on reading the tape or how you use it
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Best Answered by DON'T! Forex is a decentralized global exchange. All of the 200 +- pairs are linked together. Trillions of exchanges happen every day across all the markets and they are all linked. Sometimes support and resistance seem to work on levels and other times they are sliced through like a hot knife in soft butter. My coach uses a simple approach that has proven success over 3.5 decades and it works on all markets on all time frames. Don't ask.. do you own research. https://youtu.be/Jh3R_bQxpl0?si=nnDb1joNnZDJY3EV
{quote} Best Answered by DON'T! Forex is a decentralized global exchange. All of the 200 +- pairs are linked together. Trillions of exchanges happen every day across all the markets and they are all linked. Sometimes support and resistance seem to work on levels and other times they are sliced through like a hot knife in soft butter. My coach uses a simple approach that has proven success over 3.5 decades and it works on all markets on all time frames. Don't ask.. do you own research. https://youtu.be/Jh3R_bQxpl0?si=nnDb1joNnZDJY3EV {image}
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Yah agreed that Forex is decentralized market but I was majorly talking about futures markets where we have access to centralised data of who's buying and who's selling in nq Es Dow etc
One thing I have learned in recent times... The more confirmation you try to seek in a trade the less likely it will go in your way. Pick up 2 or 3 systems... Make a model around them... Backtest, forward test the model. Take a trade when u see the opportunity not when u feel that this is right opportunity.
