Webinar: OrderFlowAnalytics on Game Theory, Part II | Trading Reviews and Vendors


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Webinar: OrderFlowAnalytics on Game Theory, Part II

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Elite Member
san diego
 
Futures Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker/Data: FXCM, Interactive Brokers
Favorite Futures: FOREX, IWM, SPY, XLE, NQ
 
Posts: 220 since Apr 2010
Thanks: 70 given, 122 received

I have been observing the OFA charts for a few days and would like to give an example of how the charts are good at revealing support and resistance lines.

Below is an OFA chart for today October 1, 2013. I have added the green and red arrows. At the bar of around 13:50 I identified the upper resistance line drawn in purple by drawing it through the two bars at around 10 am identified by the green arrows. I drew the lower support line through the points identified by the two red arrows. Thus, I had the resistance and support lines in place to trade after about 13:50.

I was able to trade on sim and make 3 ticks several times. For example when the bar at 13:50 was forming by moving from top downward, when it reached the upper purple line I could see in advance it was going to break. It slowly approached the line, then started moving rapidly back and forth and then broke through for a nine tick run. The other bars could be traded at the end of the ranges to make three ticks. Towards the end of the session around 15:50, I had plenty of indications from the formation and movement of the bar that there was going to be a breakout. When it finally broke out it moved 18 ticks.

I have enclose two charts below. The first is a picture of the OFA chart used to trade. The second is the range chart of the same area with the two support lines (drawn in orange) to illustrate that on the range chart it wasn't obvious where to put the support lines in advance.


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