I see it now a big puzzle, and if you don't have the "corner pieces", you're essentially lost. You need to find some fundament and build on top of that. Incidentally, those "corner pieces" you choose may pose limits to your final system. Rinse and repeat until you get a meaningful breakthrough. It can happen on the day you're just about ready to give up. Perseverance against all obstacles is key. Never got any meaningful results with volume profile, but it maybe help within a larger system. For me volume profile and even volume is not a "corner piece", but trend and price itself is.
That explains why I see market orders hitting iceberg orders every day. I always wondered why traders would hit a limit order that keeps refreshing. Time and sales is just half of it; you have to look at the DOM as well. It takes quite a bit of time to understand orderflow trading. Orderflow trading is as simple as it gets. Price does not move unless market orders overwhelm limits. How can you trade when you do not watch this stuff?
I have looked into this. Are you making money doing this? If it was that easy everyone would be doing it. The problem is it may look like market orders overwhelmed limit orders or there was an iceberg order but the information is incomplete and it could all change in a split second. Have you found this info Reliable? It seems out of no where price takes off and there was nothing in the DOM to indicate this. Or it looks like it broke free and out of nowhere more limit orders show up.
My experience has been allot of people talking up DOM trading but I've yet to see anybody make any significant money relying on it. Completely possible that war is, have no idea.
%% Good question WarTr...; some swing-position trend traders study weekly charts, monthly charts-trends.Some investors do the same; Jim Rogers seems to trade/invest off mostly fundamentals + value, strange but true?? Many times i have opened a position, last hour , when many are leaving LOL.
I wrote that it was simple; not easy. It takes a huge investment of time to understand which is probably why "everyone" isn't using it. I only mentioned using the DOM in response to the thread title "What else is there than price and time to analyze?" If you are interested in how using order flow may be helpful to you check out some of the Youtube videos from either Jigsaw trading or Bookmap.
I'm sure as you know...that's a complex answer -- and if anyone truly knew with a relatively high degree of certainty, they won't tell you, I'm not saying this to be arrogant, or anything -- but just learn...to...FREE YOUR MIND, That's like the Holy Grail...of trading talent...to be able to predict/trade the SPY/DOW/SPX chart daily, -- leverage/options on that, Mazal tov,
Barry Taylor's signals at eminiwatch.com include size of each trade data (helps identify when professionals versus small size amateurs are trading), and data showing if trades are happening at the bid or the offer which indicates buying pressure versus selling pressure - plus the usual price and volume data. I am presently paper trading ES (day trading) to get started. I've found these signals invaluable in trying to enter trades with higher probabilities of success.
Time, Price and Pattern which is all wrapped up in Price Action. Everything else is secondary. Pattern = OR, first 1/2 hour/hour R, HH's/HL's, reversal bars, etc. Not silly H&S, cup and handle, etc nonsense