Fugazi - Order Flow hot data

down we go to 1.3640

04:20 03/28USDCAD- testing 1.100, stops seen below 1.0975
04:16 03/28EURJPY- clears noted stops through 140.00, bids expected 139.80/75
04:12 03/28EURGBP- clearing noted stops below 0.8250
04:09 03/28GBPUSD- stops above 1.6650 in focus
04:06 03/28USDCHF- clearing noted stops above 0.8880
04:04 03/28EUR sold on weak Spanish Retail Sales

=money where the mouth is....

here we are mate

Beautiful.

I was not implying anything other than supporting my statement with action. Nice trade.

I was surprised by Spanish CPI, did you see that coming? Do you think that there will be some good bids .3655?

Yes i know i just seen you post your trade and posted mine too just for "fun", is ok to have some images in the thread from time to time, always and only numbers and levels can get monotonous, me too i was not implying anything.

I was actually looking to sell above 1.3750, but when london opened i've seen price acting aggressively so i've sold in a hurry smelling something (no i didn't see it coming! seems like the forexfactory calendar missed that event).

Yes there will probably be good bids at 1.3640 area (1.3655,1.3630, 10pips more or less, the area is that one), but on the other side the market is also pretty oversold so i wouldn't rule out also a kind of bottoming and recover (that's why i've already put stops at entry level, just to not risk).

Tricky as always!

Note- Not loving having a position ahead of UK news, but it looks like the market is poised for higher, so I am gonna hold.

Closed -10 Look for entry lower...

Sorry to read it. These news are always a casino', unpredictables.

me too stopped out, today the market is fugazi.

see you next week

what can we do, keep an eye on 1.3807

Offers at 1.3750 taken out.
Next level to watch 1.3807, i doubt we'll get there today, however it's friday and the last day of the month, anything can happen.

Stops at be once again and pop corn time once again.

31 days

Oh yes i see now, not the last day of the month. mm..

Perhaps better to forget about 1.38 for today..
I will let it run for sometime untill the momentum fade (for now seems ok).

Anyone with me?

Anyway, the orderboard of eurusd up to date:

Big offers at 1.3874 (stops above)
Big offers at 1.3807
Good sized offers at 1.3750 (destroyed)
Current 1.3754
Bids at 1.3755 (being tested now)
***Bids at 1.3728 1.3754 (moved from 1.3728 to 1.3754, bidders are trailing)
Bids at 1.3703
Bids at 1.3643

Good luck!

Bids at 1.3754 being tested now, let's see if they hold

what a crap, this market is shameful today.

i'm out, back next week

spaceduck, just watched wolf of wall street so really liking the Fugazi name for the thread :-)
Could you hint at what place is the best at gathering this information (stops, bids, offers, etc) quickly?
I'm a student of order flow and would like to do my own research to help me learn to better manage my trades. Thanks.

Hey matrixroot, i have written this before, but i will write again for you.

Where to gathering informations (stops, bids, offers, etc).
Nowhere.
They don't exist.

I know, many websites, blogs, and so on (this thread too) write about orderboards, bids, offers, stops etc.
It's all fake. Let me explain.

The currency market (forex) is not a centralized one, like the futures ones for example.
This mean, that it does not simply exist a centralized marketplace where orders are gathered together.
In other words, it cannot exist any orderboard whatsoever.
Even in the futures markets (that are centralized ones), the orderbook available to traders (even institutional traders, banks etc.) cover not more than 5 pips from marketprice, so even there it cannot exist an orderboard.

Now, if we add the fact that the big dealers (and there are hundreds of them, if not thousands, in the whole world) use extremely complex and fast techniques of orderplacing and orderdeleting (orders get placed and deleted without being filled, tens, hundreds, thousands every second, it is a very complex world where anything can and do change drastically in a matter of a nanosecond), you may grasp how dynamic are the markets, and how it is simply crazy any idea of a fixed reliable orderboard.

This orderboard fantasy is just a fantasy, of course as i just written many websites and blogs write about orderboards everyday, but it is most fantasy (and if you used to trade such levels or just observe how market behave on them, you may found out already that it is just garbage, totally useless and dangerous if you are trading your real hard-saved money). Why they do share such crap? For make traffic, for earn money with advertising on websites, for sell dreams to those willing to buy them (like the people that sell useless ea), just business.
Each of these companies claiming to have orderbook datas are just guessing where bids and offers may are, just a guessing game. Some of them don't even waste time in guessing, they use to write "bids at 0080 0050 0030 0010 stops below", but ok i don't want to criticize, but the world out there is really a joke.

About my levels (bids, offers), they too don't come from an imaginative orderbook (that does not exist anyway, no for retailers, for institutionals, for banks, for god, just fantasy), but they come from charts that up to this moment are the only real tangible thing in this trading world.
On my side i interpret the charts with my understanding, and always am 100% objective when write down the orders levels.

The good thing is that they have a sense (are taken from real charts), and most of the time do work well.
Clearly, the price will bounce on a bid level most of the time, how much the bounce will go, how long it will last, how much the "drawdown" before the bounce will be, all these things unfold in a natural way that is not fixed, surely on a strong uptrend price will touch the bids and bounce immediately, on a downtrend buying at bids will be a little bit dangerous instead. (and viceversa for the offers)

So.. that's all

wow i think you've really addressed my concerns with trading on "order flow" information. I get the whole charts ascertainment of stops, etc but I'm always afraid my interpretation of it is not correct and the market may want to fadeout some different level first or decides to breakout and I'd really be making losses. I guess I'm thinking I'm more of a scalper. Going to have to research some good scalping strategies where the profits are more consistent in my opinion. thank you for your time spaceduck