It would be very helpful if you would figure out the difference between THEN and THAN. I found it hard (impossible) to follow your post because you seem to use them indiscriminately. I think you may have had something interesting to say, but I gave up trying to decipher what you meant vs what you wrote. I'd love it if you'd try again with THEN and THAN corrected.
I think someone will ask for statistical analysis, backtest results or simulation trading results before they ask for verification of any real money trade performance. Those that typically do that have not arrived to this thread. Hopefully they're not sick from Covid-19. Seriously, I've notice a few active members in this forum have not posted since mid March. wrbtrader
Hi Sprout, this is going to be a can of worms. Ok so yes there are contracts at every price point and those contracts are retail limit orders, maybe small institutions as well, you will never see institutional orders. What moves the market is Institutional market orders. The volume you see is retail volume and even the chart itself we trade is just filled retail orders. Our retail limit orders go to filling institutional orders.
it comes down to understanding who you are buying your contracts from and who you are selling them to...which you will never know but there are clues within the chart. If you are buying from an institute or selling to one - your trade failed the minute you hit the execute button. Trading on the same side as the institutes is the only viable trade and it means getting the best possible entry based on clues that the institutes have left behind
It's not the Corona. They were so busy exchanging crap among themselves on this forum they forgot to sell their stocks.
Im going to place a chart up showing the varies different levels that can form. Individual bar swap levels, groups of bars that swap, highs of bars that are showing a lower high form sell levels as well as higher lows demonstrate buy levels - it is not a trade - it just shows how to find levels
Individual bar swaps can be used to ensure the trade is developing in your favor. In saying this there are bars retracing showing swaps in the opposing direction. Basic rule if price is falling we do not want an up bar to close higher then the nearest opposing down bar, which is the direction you want. Once we get a higher close then the nearest up bar it signals that momentum is changing - the sell orders are drying up leaving only buy orders.