My Journal
Well another week is here and with it comes new opportunity and space for advancement. After much consideration I've fully decided I MUST actively incorporate the daily chart into my place making process.
Only trading smaller TF's without completely knowing where and in what circumstance I'm at on the daily chart dosent provide enough information for me to make consistent, accurate High RR trade decisions on smaller TF's. Although I've been an allstar in intraday trading it seems without warning I could turn out of allstar into seat warmer. In actuality it's the product of failing the ability of this tendency and a high RRR. Learning to work inside ones current limitations will allow you too exceed your limitations.
That is why designing a system with a risk/reward and entry/exit criteria that's appropriate to your ability level and mental/ emotional makeup is critical to ensuring a profitable, long term trading career.
At this point I'm flat E/U with a slight bearish bias but the next few days should point how.
Order flow is what moves the market in 1 direction or the other, an imbalance of buyers or sellers. Market participants place orders when specific conditions are fulfilled IE: Price strikes S/R, Pivot Point, Round Number or an obvious supply/ demand amount ect. .