I´ve decided to write this new thread since my last thread on Crude Oil for me is closed, So I think it is time to write about this not only because of the people that can grab something from it, but mainly because of me!.
Order Flow trading for me should be simple and easy, not using some programs or codings but something easy to use and easy to make money on it, (at the end we all are here to make some money from this markets), so i have taken some indicators togheter and one Moving Average, took Volume, and voila! it is working!!!, these indicators are not what you think! (they aren´t a fancy analysis, with a show/fancy look!, Nop, i´m sorry to dissapoint you, but the indicators are just lines, they draw lines where the market could and possibly sit orders and here you come as a hunter, you let the price approach this high % levels, and read the price and order flow with the help of Volume, and let me tell you that is really, really working!!! just today 11/09/2013 I Made $600 minus commission, (it is the mage attached) so i will focus on this and ONLY this, that I will call, "Order Flow trading made easy"-
So welcome aboard to comment and add to this thread.
Ok, what do you need to read order flow, First of all: THIS IS NOT A CONVENTIONAL WAY TO READ ORDER FLOW,
what we do is establish some levels, in which the price will interact with volume and therefore we will know if order flow and smart money is playing the game,
1. you need Prior day OHLC indicator,
2. Camarilla Pivots
3. Volume
4. WMA 200
I have attached some images on this indicators and an explanation on how to use them, i will write extensively about this, on later posts.
As I said in the previous post, price was tempted to test this level of 108.61 and it did, i did take a trade but i took it earlier since i was heading to a meeting, i saw price would go up so i got in, and monetize the move,
Posting a little bit late, but, still there is trading day ahead...
Ok, it seems the market is protecting (For NOw) 107.30 level, this level will play this day, pressure is for the down side, volume has been high on the test of this level meaning stoping volume stepped in and break the price to fall much more, I would like to see a test on this level with low volume to enter a short position here.
Good morning all, i have attached an image on the levels for today, it seems the market is posed to test lower levels, i will be positioning my self to trade accordingly.
I ended today with $260.00 on profit, after three trades, two losers and one winner.
Analysis was correct, The market went our direction, but timing and reading on price movement, made me go short
earlier, anyway ended with profit.
thanks for starting this thread, it is an interesting read. I don't trade CL but I do use camarilla pivots on other futures. I was wondering if you are using the prior day's close of CL for input to the pivots? I ask because when I look at the camarillapivots as shown on Emini Day Trading, , for CL with the contract month shown on your chart, there are some differences in the levels.
On your chart (of today) looking at H4 - H41 here are the differences:
well i just finished my day trading on the higher levels,
The price is still testing today´s high, and it will try to break this or capitulate or be rejected on high volume, price will tend to go higher.
ended my day with $300.00 positive, after a negative trade of -$300 still fighting with anxiety, (I need to overcome this) but the second trade was good for $600.00, ending with $300 positive.-. good day.
Do you feel that the difference in using the settlement price verses the close price is irrelevant in the placement of the pivot lines (as in it is close enough?)
Appreciate your thoughts.
"Money is better than poverty, if only for financial reasons." - Woody Allen
The following 2 users say Thank You to Tasker_182 for this post:
GM All, Today seems a that will be a slow Day, price is testing some upper levels, and think the market could surprise us in the hours ahead. It seems to be accumulation for now and then we could have some serious distribution-
This morning has started earlier, price is definetely heading lower but surprises could come, right now the price is sitting at a hard level, 102.63 there is very high volume by price activity, and low volume meaning sellers are making pressure to bring the price lower, to 102.28,
I just finished my trading day, for a positive $300.00 I had identified the zones the market was testing, using my two indicators Volume and Volume by price (volume zone NT), i worked really well, price was above the WMA 200 this means for me that the pressure will try to continue up and in the process i could make some ticks, price supported itself at 102.78 and this happenned to be a high level on the volume by price meaning some trades and stops, limits could be laying there, trigering some sparks, price went up to 103.06 where is another level of stops and traders positions, and also happens to be the high of the 5 min opening range, so I entered the market @ 102.88 2 contracts, and exit @ 103.03, very good trade, watch this levels,
102.78
103.06
103.27
103.96
To the upper side, Market will try to test this ones,
To the lower side, price needs to break 102.30 to enable 102.20 down to 101.82
A description of pivots based on the Camarilla equation can be obtained by searching via google or your favorite search engine so I won't provide that here.
This indicator displays the pivots based on a calculation of the yesterday's High, Low, and …
This morning this is looking very interesting, we have two levels to watch...
101.35 & 101.82
The price will test this two levels watch for any test on low volume, to look for that smart money trap the heard!...price could take a dip low and then try to trap as many as possible to recover back up...
After some days out, price is marking the market, amazing how the market reacts and how the big boys enter the market to capitalize on this moves,
I made only one trade today since i do not have much time now, but the market shows plenty of opportunities, i just want to point the importance of reading the volume, i have attached an image explaining my self how this works.-
It is good to be trading again, it seems that this will be a very challenging week for the markets and economy overall, I just closed my third trade of the day. the first was a bad timing trade, i was expecting the market to rise on the level but ther was no strenght to support the move, so i closed it with -$200.00
Second trade was positive for 2 ticks only..since i saw weakness coming in,
But the third trade i think it had everything needed to be a good trade, i was missing the volume the first two times,
this one the market gave a very good spike on volume telling me some fat guys could be buying there, the Wave Volume was chaging from negative to positive, so I got in, ending with a 30 tick trade,$600.00 on profit, 2 Contracts, minus $200 on the previous trade, i finished my trading day with $400.00...
I made my trade of the day, I was expecting to see some above average volume to position my self in a trade,
the market is poised to test lows, so I used my levels price went to test 101.85 and right at this point, an accumulation of above average volume appeared so I knew this was my point of entry, it was a clean trade, my target i decided to place it at the previous high so the chances to get this price was 50% and it touched it.
Gold is under pressure, and looking to head upwards!!..1222.4 key level
Here is the chart
Hello,
I´m back on my regular trading after some time away..
Today we have crude oil inventories news, the market looks slow now, there is not much to tell for the moment...price is into a zone, and i´m looking for my favourite setup, lightning down or up!.
Since I missed the morning trade on Gold, I was looking at the market, normally I dont Trade the afternoon hours, but i saw this opportunity so I took the trade, It was a lightning Down setup with price under a mid level 1226.4 my CCI was screaming sell!!! so i waited for the setup to develop and ended with 10 Ticks 2 Contracts, $200 profit, for a total day profit of $300 minus commision.
Well, The market has moved already, the reaction to the missing stimates is weighing on the Gold, I see a possible test on my trigger zone on CL, but i also expect a reversal to the down side...i will wait for my favourite setups!!
I was waiting for my setup to develop, it just happened and I just closed my trade,,,15 Ticks, 2 Contracts, Minues Commision, it was a very good day! a very good week...
I guess this year will be an extraordinary year!! I can feel it...
I saw a developing setup "lightning Up" so i placed my pending order,
2 minutes later was filled and closed 4 minutes after.
THis week will be a powerfull week in the markets, and I intend to take the most I can from it,
CL this morning is as every Monday, Low volume, and stright moves, down and up, At the moment I see price testing a zone, and if breaks this i will loook for my setups to go long.
Gold: Price has developed a range from 1248.8 to 1251.2, my trigger zone is at 1248.2 to 1248.8, price is very close to Moving Averages, all this means to me, to WAIT.
Crude Oil: it is moving, testing my trigger zone, 92.06-92.13, and developing a possible setup. lightning down.
Entering the "death hour" from Pit open 9:00 to 10:00, so this means to me set pending order at 92.12 to see if market breaks this level, if is not broken I will look for a W setup to go long.....so I´ll wait.
Always learning that´s the important thing,
I had my lesson, today, I Dont have to trust only in the setup I see!!! I have to look closer!!
What happened today:
1. Overall Trend was long,
my first trade was counter trend, based on a lightning down setup!, the setup was good, but I didn´t realize that price was supported by the White Moving Average, so there was no strenght in short!
it stopped me out!!! -$240.00,
2. Trade with the trend!
My second trade, was triggered by my favourite setup, lightning up, it was supported by the overall trend, it was a long bias trade, when the price reached my entry point, price was outside the moving averages, and supported by them,
So lesson learned.
I have made a document with my process and I will have it right in my desk prior to enter a trade!
It was a Huge day yesterday so I expected range trading today, and it was, Price dind´t opened above 94.64 nor below 92.73 so the price opened in the middle giving the clue that it would be a range market, i took my short trade after a Lightning Down Setup, for a 16 tick and 2 Contracts.
Pretty good move, the price bounced after touching my level 93.81, Divergence was present in the WoodiesCCI,
Buyers are under pressure, sellers are comming to the prices, so i came in as a seller after the price penetraded back down the 94.64 level, Opening was above this level but sellers brought the price down inside yesterdays range quickly this was a clue!.
Ok, i´m back to trading, I hope I can make my week this three days left of trading,
On CL Price is near a supply zone from the third of January, I see a possible test to this zone later in the session if buyers keep the pressure up, so I´ll wait until a signal is triggered for me.
I was able to trade in the CL, I normally wait 5-10 min after the News release,
7 minutes after the news release I got my signal, to enter the market, It was a bullish day since the open, and the data came close to expected, so the move was a regular one, moving a bit down fading the sellers just to turn and enter, go the other way around and there was where I saw my opportunity,
Hi, I've enjoyed reading your journal thus far. I am trading CL as well.
I've been looking everywhere for the Supply/Demand indicator and the PLOD/PHOD indicators that you have on your charts, but I have been unable to find them. Can you please post the indicators that you are using (particularly the Supply/Demand indicator and the PLOD/PHOD indicators) so that I can import them to my Ninja Trader platform?
Thank you very much!
The following user says Thank You to cjlouie for this post:
Hello, I'm glad you find my journal interesting, regarding the indicators you mention, the supply demand indi, is for free on the ninjacator . Com website, just need to sign up with them, the prior day high and low is standard indicator in ninjatrader, under the name of Current day OHL, it plots the prior day OHL and current day as well.
Thanks for the interesting posts, hope you keep them coming!
Some questions:
1. Your first rule is to identify Trigger Zone with Fibs, im unsure how you do this and would appreciate a short description if you have the time to spare.
2. Your fourth rule is to check if price is near any important or smart levels. How exactly do you determine these? What do you look for? Just PriorOHCL levels and/or CamarillaPivots?
Also, I was hoping to grab a copy of your charts, as they too seem interesting- but the latest template i found from you was from 2012. Would you mind sharing your template?
Many thanks,
Daniel
The following 2 users say Thank You to danielk for this post:
I haver several fellow traders interested in my templates and trading style, i will be posting soon all the info you need if this method works for you!...
I saw two opportunities on CL as known if we had a wide range the previous session the next session has an 80% chance to be a narrow session, and that was exactly what happened today,
here are the opportunities, I Saw.
JD
I will post my method and templates on the Elite Trading Journals.
@JDNeeman, thks for having journal, where to look in the "Elite Trading Journals"? for your method and templates, looking forward to them.
thanks in advance
The following 2 users say Thank You to learning0101 for this post:
Today I traded the TF since i needed to finish my trading day earlier..
Lightning up Setup, price was supported by the major cloud, and minor cloud, signaling a possible up trend continuation, I entered with two contracts, so i was out the trade 10 mins later with $300 in my account..
My plan to become a millionaire in one year seems to be working good!!
Today I was expecting a very good trading day, and it was a very good trading day,
After news the market always gives opportunities to enter and make some ticks.
I saw a developing Lightning Setup, price was above the major cloud and going above the minor cloud, so I placed a pending order at the swing and almost inmediately i got filled, The market went all the way to my target,
I will be sharing the Alpha Trading Method (ATM) next week in the elite trading journal,
Thanks for replying to my question and showing me where to find the Supply and Demand indicator. I appreciate that very much.
I have not, however, been able to find the PLOD/PHOD indicator that you have on your charts (Please see attachment. The indicator that I am describing is circled in red).
The Current Day OHL indicator that comes standard with Ninja Trader that I used did not produce the desired result(Please see the second attachment). The "PLOD" and "PHOD" that appear in yellow boxes on your charts do not show up on mine with the Current Day OHL indicator.
Please post or PM me the indicator that you are using for your charts. I ultimately want my charts to look like yours.
