hi you mention order flow , how do you determine this. thanks
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Order flow or transaction flow occurs when someone believes the price of a security will move and then decides to execute an order(transaction) in the market. The individual may want to be aggressive and execute a market order and pay the spread. That is one potential option. The other option is for that individual to enter in a limit order or stop order specifying the order flow or transaction to be executed at a certain price (limit order) or executed after the market hits a certain price (stop loss order). Both are various kinds of order flow.
I draw a map, with fibonacci telling me where the market has the propensity to go. This way I know the (order flow) of the market. I have an algorithm that looks at price action on weekly price to determine the fibonacci levels
Price was rejected from 50% level yesterday on #usdcad forming a doji bar on the daily chart. The market is telling you it's time to go back to the trend. Listen to price action. Weekly Fibo levels can help you do that. Look at the chart, after NFP week, price managed to go down all the way to 50%, breaking the 61.8% and telling us traders that it might be a possibility to more down movement. But, the analysis that we made told us the order flow was to the upside, and to be careful with short trades. If you follow my trade explorer you might have seen that one of the shorts I took was stopped at break even. I thought price was going to continue down for a bit until 38.2%, but yesterday's candle had a different story to tell. I entered long yesterday at the break of prev daily high @ 1.33573, a couple of pips before. we touched 1.3400 and is retracting a little bit, I know today there are oil numbers, that will play a huge part in movement today.
#usdcad have not been able to break the 61.8% level, possible scenario if it does not break this level is going down to test 38.2% @1.3209-1.3200 area. There are news today from both sides, good luck! I entered short on #audusd yesterday on another strategy of mine and it paid off. I'll leave you the chart here also. You can see the power of the this fibonacci levels
If you know where the market is going, who's going to stop ya'? I entered short #usdcad @1.3315 knowing price was going to test 50% levels @1.32839.. What happened? TAKE A LOOK AT THIS!! I still have a position open as you can see waiting to see if we are going all the way down to 38.2% level.. Get this levels today.. They are posted somewhere in this thread, they have not changed still.. or get the indicator an plot it to your chart! read post #1 for details
Good evening traders, it's been a busy week for me. Sorry for not post that much this last week. #usdcad manage to close to the downside triggering the levels to the downside. Here's a screenshot of the levels. Remember to check the first post for more details on the indicator.
