The price of anything that "trades" in an auction market, is determined by the supply of or demand for that something.
Supply and Demand is also and always motivated by price.
We find the supply and demand of the market through our orderflow charts. Truly if you know the orderflow of the market, you will not get a lot of your trades wrong. It is not 100 %, as no system is, but good enough to ensure that if you take every single signal from it, you will not go home poor.
Here is the latest OrderFlow chart of Gold futures.
Don't need to follow your bias, don't need to follow your indicators.... just follow the market.
Orderflow is the market.
OrderfLow BankNifty :
Tuesday, August 2, 2011
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2 comments:
The Buyer we were watching in the US futures at 1266 has given way...
I now expect this market to test the lows of 1241.
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