In Market profile, the auction theory is all about the buying and the selling of the market.
Fortunately in our trading room, we keep a record of this through our OrderFlow indicators.
The orderflow measures the buying and selling of the market and puts us ahead of some great trades through it's uniqueness.
It is based on the actual money chasing longs/ shorts and always a good window on where the market is selling off and where it is buying into.
On Wednesday, the buying in the market was depicted through a blue streaming line ( blue is for buying and red for selling) and this morning we had a red orderflow straight off the open.
Today the buying has been less, evident in the lesser blue in today's charts compared to the one on wednesday which was all blue until the close.
Friday, April 15, 2011
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