Hey traders,
Once again we are letting the power of the OFA script dictate whether or not entries are triggered at key areas of interest.
This time, I will showcase a neat short example in the USDJPY.
Remember the intervention by the BOJ just a few days ago? Well, the inertia and market gravity led to the USD tapping back into the origin of that orchestrated selloff…
Typically, you’d see emerging opportunities on a revisit of that level, provided that the aggregation of order flow suggests so…
How can you tell if that eventually eventuates and we get an entry?
Answer: By reading the marker structure that the OFA script so succinctly distils for all of us.
Remember the two key main features of the OFA indicator:
Magnitude: A major clue that will help determine the health of a trend is the type of progress by the dominant side in control of the trend. We need to ask the following question: Are the new legs in the active buy-sell side campaign as identified by the script increasing or decreasing in magnitude?
Velocity: When it comes to the distance the price moves, the magnitude is only ½ the equation. The other ½ has to do with the velocity of the move or the speed. Was the new leg created after a fast and impulsive move? Or did price make a new low or high with the movement being sluggish, compressive and taking too long to form? A good rule of thumb is to count the number of candles it took to achieve a new leg.
DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
Once again we are letting the power of the OFA script dictate whether or not entries are triggered at key areas of interest.
This time, I will showcase a neat short example in the USDJPY.
Remember the intervention by the BOJ just a few days ago? Well, the inertia and market gravity led to the USD tapping back into the origin of that orchestrated selloff…
Typically, you’d see emerging opportunities on a revisit of that level, provided that the aggregation of order flow suggests so…
How can you tell if that eventually eventuates and we get an entry?
Answer: By reading the marker structure that the OFA script so succinctly distils for all of us.
Remember the two key main features of the OFA indicator:
Magnitude: A major clue that will help determine the health of a trend is the type of progress by the dominant side in control of the trend. We need to ask the following question: Are the new legs in the active buy-sell side campaign as identified by the script increasing or decreasing in magnitude?
Velocity: When it comes to the distance the price moves, the magnitude is only ½ the equation. The other ½ has to do with the velocity of the move or the speed. Was the new leg created after a fast and impulsive move? Or did price make a new low or high with the movement being sluggish, compressive and taking too long to form? A good rule of thumb is to count the number of candles it took to achieve a new leg.
DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
👉👉 Join The OFA Inner Circle:
📓📓Learn Order Flow like a PRO:
www.ofa-course.com
🧑🏫🧑🏫 Author of the #1 Order Flow Script:
www.tradingview.com/script/WhQSEfKT-OFA-Order-Flow-Analysis
📧📧 DM me if doubts (100% response rate)
📓📓Learn Order Flow like a PRO:
www.ofa-course.com
🧑🏫🧑🏫 Author of the #1 Order Flow Script:
www.tradingview.com/script/WhQSEfKT-OFA-Order-Flow-Analysis
📧📧 DM me if doubts (100% response rate)