Linear regression channel , sorry . Yeah , the OB at 850 est broke to the downside and it was all bearish from there . The OBs are really good for an ORB setup with proper confirmation , like an oscillator .
""In my previous life"" I liked for example stochastics a lot, but ""in my present life"" I recalled to myself who I traded a few years ago without charts at all and was really successful, just price, volume and anything else which will help to make big jump after I enter position.
So now I use almost solely price action, levels, ranges and watch what is behind 3-5 level of bid ask, I wish I could have depth of bid/ask like on SB 11 it helps a lot
+ institutions see what kind of orders sitting in DOM, i.e. they see whether that is stop limit or market limit, see whether that are stops or buy/sell orders to enter position.
So, unless I found how to see the same I'm forced to watch and remember DOM very carefully, all that delta volume stuff not helps or may be I use it wrong.
Apart from that I use pure price action and confirmation of it by price, say price is going to broke some level, ok I watch how it broke and than awaiting price to confirm that level only then I enter or I wait for certain level and then wait for explosion in order to catch that wave, again better to have also confirmation from DOM, that big orders going to ride or defend that level.
I'm not doing secret of all that stuff, so, if any will be glad to discuss it further.
The following user says Thank You to Andrew for this post:
Eric - I must say, this is by far my favorite/most useful indicator I have come accross after years of trading. It has been a game changer for me and makes sense to me, as it is simple and straight forward. Together with trading discipline, it is great.
Thanks for sharing this!
The following user says Thank You to ticker for this post:
Glad to hear that . Props go to @Silvester17 for showing me and the others how and when to apply reversal bars like OBs and IBs . That dude is a master at identifying volume exhaustion , support and resistance and reversal opportunities .
The following user says Thank You to Eric j for this post: