CAD had high volume today and also on weekly chart. I am still finding ways to translate OFA and figure out if this volume was buyers/sellers and most of all if large players are the buyers/sellers to help determine future direction.
So, if you are a user of Gomi, Market Delta or OFA tool of some sort, and like to share your expertise, your input is welcomed. Thanks.
high volume nodes or poc can be misleading when you are new to volume profile. you have to look at two or three different things ... one how fat or wide the poc is and how short the daily or weekly range is... if you put up a weekly volume profile chart...you can see big moves come out of very short and fat profiles.... on the other side if you have a profile that is long and skinny the poc does not mean that much... as far as ofa... i have all there stuff for 5 years....they are a lot better at selling new stuff than teaching you how to use it.. i wait for traders to int. trade from my key inflection points then but a limit order 3 ticks from the high volume print in the cluster ... stop 3 ticks under high volume print... i do not wait for it to work ..if the market does not pull away in 60 sec. i am out ...if you are correct you should get movement... ofa training vetos makes it more binary.. stop goes in targets two are three times stop...peace of cake...i have not found that to work in that manner