Is it really needed though?Ignored
DislikedI don't know. Darkstar said you can get some useful info from Level 2/DOM but I have no idea what he was talking about.Ignored
Is level 2 Important? I would say it depends on your morals.
I'm looking at using level 2 because after reading so much into Order Flow I can see that TA Rsi Macd Ouija Boards Fibs (I could go on) have absolutely nothing to do with price. I remember reading "Trading in the zone" the story about the analyst and the Trader. The Trader simply picked up the phone and placed an order which proved the analysis wrong. Its orders that count. What I'm looking at is seeing if its possible to monitor how the bids and offers are absorbed,...Ignored
DislikedWe have Market orders Marketable limit orders aka Stop orders and Limit orders.Ignored
DislikedOut of the three types only the Limit orders supply liquidity. Therefore any informed trader looking to trade a large volume will be looking for the Limit orders to demand liquidity from.
Dislikedcame across a bit of order flow edutainment for ya on how warren buffet bought silver
although contrary to zerohedge's opinion i think it's just about time to start shorting it now for at least potential down bounces from 35 and 37.Ignored
DislikedBut how would you know,when the orders of this particular deal would come through.I mean the timing of this? Isn't it to late by the time this sort of thing hits the public?Ignored
EDIT: That is of course, assuming they still have GBP to transact. If it dips much below this level, that will be enough to show me that perhaps it's a done deal.Ignored
DislikedHey Guys I wish I could have posted this pre trade.
Previous Mentality: Macd MA Cross.
Order Flow Mentality: CMHC Release is forecast to be good for the CAD and as it is a major indicator should move the market by at least 20-30 pips.
Previous Stop Mentality: Previous Swing High
Order Flow Stop: Well above swing high out of reach of stop hunters.
Now for the news skeptics: Enter pre news with a narrow spread. Exit post news when spread narrows again.
Mr Grkfx is this what were looking for?Ignored
DislikedCMHC is the Canadian mortgage housing corporation.
The reason why I looked at the trade was because it was classed as a market moving economic release.
To be more exact:
"Annualized number of new residential buildings that began construction during the previous month"
Its forecast was in my opinion going to be good for the CAD so I was looking to short the USDCAD. It was nice to see how the release created a "bearish outside bar" on the hourly chart for the pa traders, as for the order flow traders the move was already over and...Ignored
DislikedGot any homework for us Grk?Ignored