Support And Resistance Based On Order Flow

This week I decided to re-post a training I taught last year on support and resistance based on the order flow in the market. I have included a link to the video and a summary below:

Click Here To Watch The Video On My Patreon Page

 

What is Support and Resistance?

Most traders learn about S&R in their first few months of trading. So I am sure you know that support is a level below the current price that the market may struggle to break through before going lower.

Or the price may also bounce back up at this level. On the other side, above price, you have resistance levels where the market will struggle to break higher or bounce back from.

These levels are commonly derived from swing highs and lows. The problem however with using the swing high and low is that the price many times will test through these levels and then come back.

Why does this happen? The answer comes partly from what was taught last week – limit orders. I will be showing you how to spot these levels in the webinar by looking at market sentiment.

 

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What Are Tick Based Charts?

In this week’s training you are going to learn about tick charts and why they can give you an edge over the typical time based charts.

You will also learn how to add a tick chart on our trading platform – Informer.

Click Here To Watch The Video On My Patreon Page

 

What Is A Tick Chart?

Instead of each bar representing a certain amount of time (1 minute, 5 minutes, 1 hour, etc.), a tick chart is based on a certain number of ticks (price movements).

For example, a 10 tick chart means that each bar makes up 10 price movements up or down. So instead of getting a new bar every 5 minutes on time based charts, you only get bars when there is price activity.

In some cases it might take hours for a bar to print depending on the number of ticks you have it set to and the volatility in the markets.

Tick charts are similar to Renko and Range based charts, except they are not based on a certain number of pips.

 

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