How To Tell Where Other Traders Have Placed Their Stop and Buy Orders
From the attached PDF...
I find myself spending more and more time focusing on analyzing market structure, looking for the clues price has left right in front of me about its probable path of price. I still use my all of my normal tools: Median Lines, Geometric or Fibonacci Expansions and Retracements, lines drawn from multiple tops and bottoms ‐‐ and of course, solid money management and risk control.
But the more I work with other traders trying to help them improve their trading, the more I realize just how much my successful trades rely on correctly reading market structure, identifying changes in the market's behavior and knowing just where the majority of the market players are massing their buy and sell orders.
Let's look at a recent example in the Canadian Dollar on a five minute bar chart and see if I can show you what I mean:
Read the attached PDF for the rest.
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