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hi ignacio , nice explanation of these components and thanks a lot!
but canu take a little time , and tell me where can i go to learn these three components since i am new to trading of ?
Hi @fasih
At this forum you can learn a lot from other orderflow traders. There are a few. You can ask what you need and sure you will have the help you need for cave your own way on this.
Speaking about orderflow today was a nice day in the e-mini to look at orderflow. Quiet day with a few actions. Following the previous post and speaking about how orderflow can help you in taking decisions (not winning money, of course) we can discuss about this:
1)work zone or area to look, is what is called context. 1893 was a nice place to look. Near friday's close zone, up point from fifteen of this month
2) Intentions. For this we can see how was the intentions at this specific area and we can see a lot of limits orders trying to jump in the market. If someone wants to sell 3000 contracts someone will buy it. My understanding is that this buyers need to mantein this zone for expecting a movement up. Let's see:
3) Market orders. We can see at this zone, sell intentions. Previously we have an agressive buy movement, followed by a buy action, volume that need to support the way up, throught the previous supply absorbed. Down to this point the short trade was a possible action to take:
It's a short term analysis that can help you to spot how price action is reacting at buy and sell activity. It's not the only way to read it, but it's my way, and this is what anyone need to find, his way. In my case orderflow is a must tool, but i know other traders that don't use it. This is way previously to try to learn orderflow one need to define if it's somenthing confortable to him and then go ahead and support the large curve to master it.
Could you, please, tell us what are the indicators added to the charts you presented? Does the second image show the GomVolumeLadder or the VolumeLadderMetroEdition? Your data look very clear and I am having difficulties selecting the right parameters for both ladders. Could you, please, share a NinjaTrader chart template of your settings?