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I have been started in this trading journey and I have found myself with several doubts, hopefully one of you could help me, my doubt is the following, using the "Order flow" in futures trading to be more precise, when I see that there is a "Big trades" is it possible to identify if it is a turn (or change of trend) or a trend continuation?
I will appreciate your comments
Can you help answer these questions from other members on NexusFi?
I use moving average crossovers to find trend changes, put several moving averages on a chart at the same time like an 8,20,50 and 150 SMA. Also I focus on the shape and color of candles (I use candle charts) to get a lot of information. Look at a daily timeframe chart to see where the price is going. Higher highs and higher lows or lower highs and lower lows? The look at a smaller time frame like a 5 min chart to see what developing- continuation or reversal. Do the moving averages on the bigger time frame look like they're gong in the same direction as the moving averages on the smaller time frame chart?
I have observed that trend changes may occur at highs and lows (support and resistance) levels. These are areas where traders are making choices... should I stay in the trade here... should I get out here? When a reversal is developing the color and size of candles may get small/ thin and there may be several "mixed" candles which to me are signs of indecision (buy or sell?)
Thats what I do. You have to figure keep asking questions, get input from several sources and decide for yourself.
check out nat gas futures today- freefall. see if you can find where it will reverse. After big selloffs there is often a bounce in the opposite direction.
