Ok, it's time for me to start a journal, both for my own benefit as well as the futures.io (formerly BMT) community.
This is not a journal in the traditional didactic sense in that I will not be showing setups and trades (thought occasionally you will encounter a scalp or a swing on my charts), but will be rather exploratory in nature.
This journal is about order flow, reading it, thinking about it contextually, and using it in a supporting role for your own trades. I will try to post something I notice in order flow every day, typically in the first hour.
What I will post is not in hindsight, but how I was thinking about it in real time.
Specs:
ES, 2 mins, RTH, with PPs, YHOD, and YLOD as basic S&R.
RED = trade on the bid.
GREEN = trade on the offer.
Filter: trades only over 40 contracts.
I will not be using DOM for order flow, but just Time and Sales. This is a decision that I make as a minimalist. T&S together with the chart tell enough of a story... I think. :)
Ok, here we go. From today:
Comments: Strong trend off the open. We hit YLOD and encounter some resistance. Will the trend continue and this is just a pullback in a strong trend day.... or are we getting ready to reverse here?
600+ prints at 52.50 (BLOCK). This doesn't seem like aggressive shorting here, more like profiting taking at a good spot.
If we get a "green surge" higher as a confirmation, the trend is likely to continue.
Strong block buys at 53 confirms. These buyers are not profit takers, but rather new positions.
Soon, we trade higher and higher.