If Smart money concepts and order blocks are something you are familiar with, can anybody tell me whether or not this is useful in stock trading? Does anybody use it in stock trading? The reason I ask is that all the examples I see are for FX. If you do use those for stock trading which time frames do you use for observing the intermediate trends within larger trends? Any good books on this you could suggest? Thanks
Order blocks are actually ABC corrections. None of this is new. It's just a partial explanation of what's actually happening. Learn the big picture. Here are some mitigation levels failing. (SNAP) What was really happening? P.S Why haven't I been trading this?????
Thanks for the responses. I'm not sure I understood the first answer though. Those don't look like order blocks to me. I think that's what the second post was referring to. Does anybody find that using order blocks are an effective way of trading?
Now the market is extremely quiet because today is the US holiday. So I have tons of free time today. Anyway ... Professional writers like to write about those things. The more bombastic words they use, the more books they can sell. After reading a few hundred books, you will suffer from data analysis paralysis. Professional traders just focus on the simple plain charts. BUT! You have to spend millions of hours analyzing the simple plain charts until you sweat blood. Both earn $$$ in a different way. Both cannot be together; if they do, they will kill each other. Good luck. And Happy reading. Happy writing. Or Happy trading.
%% Somewhat, +no those principles are not limited to FX; over simplification, but even different market$ , like REALTY +ETFs have certain things in common. Maybe use different names . Did not go thru the bank 100%with RE, but did mostly. I uses most all the time frames................includes but not limited to 50dma . IBD uses 40 week ma + WSJ uses 65dma, but I seldom use those.