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I know this is a forum for futures and my question is stocks related, but I see that the Order Flow tool is being used primarily for scalping futures, and I was wondering if it could be a good indicator (for entry and exit) when scalping penny stocks as well?
I just never saw any day trader using it when day trading (or scalping for the matter) penny stocks
Thanks a lot, any help is appreciated
Can you help answer these questions from other members on NexusFi?
Absolutely orderflow can be used IMO even though there is a lot of manipulation. Concentrate on the liquid stocks.
I generally look at stocks with:
average daily volume > 2million
Daily ATR > $1+
Market cap > 2billion
Price > $10
Ideally some news whic will generally make them move.
You will usually see these as gappers in pre-market.
