There are myriads of ways traders get to CP. One of these ways could be by finding just one good setup that repeats itself many times a day in the periodicity you prefer to trade.
The chart below is the MNQ 39 Range using Orderflows footprint software. It has a long list of hard wired order flow conditions, each of whican be both alerted and signaled with colored triangles and other objects. You can see some bars have a very large triangle either below or above that bar. The large triangles show Delta Breakouts, one of my favourite metrics. Delta Breakouts are exactly what it says on the box:: there is a price breakout with a large delta.
Now imagine adding some other order flow conditions to a bar that has a delta breakout, say multiple delta imbalances and say a volume metric. You now can trigger a bar with these metrics. The next job is to look how far the bar(s) after your trigger moves and where to put a stop loss - testing. You now have your one setup to learn to trade in your goal to get to CP.
No comments:
Post a Comment