USD/CAD

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USDCAD – Option we’ve been reporting this week at 1.0500 is even bigger for Friday’s expiration. Expect level to pull in price and act as S/R if rejected or broken again today.

Quoting EmeraldEyes

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Usd/Cad running those buy stops above 1.0510 this morning.. wouldve made for a good short. For today, large option set to expire (again) at 1.0500 From https://twitter.com/OrderFlowForex: {quote} {image}

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Quoting smash1820

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{quote} Thanks for the post. May I ask how you track the order flow for FX markets, and specifically for a pair like USD/CAD? I have always found this concept confusing since there is no aggregate data, unlike the SPY. I know how to read order flow in the Level II for stocks and options, but not for FX markets. Do you look for order flow in the charts, or something else?

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Quoting EmeraldEyes

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Sure, no secrets here. I get information from a couple paid news sources, dealers, and/or traders that trade on the interbank market. Some of these guys can actually see orders from GS/UBS/JPM (all the evil ones) via EBS. Without a centralized exchange us retailers are at a big disadvantage without this information. You could use just the chart to find order flow info like where TA traders will place stops but I like to get confirmation as well. Pertaining to Usd/Cad, I got word that there were buy stops above Friday(11/8) high of 1.0505....

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Quoting EmeraldEyes

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Without a centralized exchange us retailers are at a big disadvantage without this information.

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Quoting smash1820

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{quote} Thanks for the response bro. I like some confirmation as well (but not too much), and I think that's why it's hard to trade off of the charts alone. I know it can be done, it's just not as easy, so why bother? May I also ask, is one your paid sources OrderFlowTrading.com, the website of the infamous Darkstar? If it is, I'll need to look into that ASAP! Otherwise, would you be kind enough to provide a little more information as to what these sources are?

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Quoting EmeraldEyes

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Well ya, you don't know a resistance level until it's made by looking at the chart. Helps when you hear of a 300M order from a big bank that ends up being the high/low of the day or stops in which traders have an incentive to trade towards them, knowing that they have opposing orders to trade with once they're in profit. Starting off slow, but for this week: https://twitter.com/OrderFlowForex/s...50457361309696 I used to use a couple free sites like ForexLive, FXDaily, Oanda news, with some success.. then trial'ed paid...

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Quoting perebeks

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Bearish divergence on the daily chart {image}

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Quoting eraserfx

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Oil is up almost a dollar since this morning and is still blazing up, GDP is better than forecast, US is not really going anywhere, why is CAD not going up? Is it waiting after 10am for the big money to wake up?

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