Longs when price wants to break key levels on bookmap
On bookmap, there are certain order concentrations where there are massive orders.
Typically these orders get hit. In fact, in my experience, it is wise to expect such places to get hit. If not further.
Not immediately, but eventually.
To exploit these for trades, my observations lead me to two ideas.
The first is illustrated in this chart and idea.
When price really wants to fill these orders, it typically breaks it. All hopium fails. We eventually get it.
So we can place longs underneath massive such orders on the next such order concentration, as shown in the chart.
Another idea i'm considering is that its a good idea to expect these areas to get hit as targets during a strong trend in one direction. So if we're going down and there are big orders in a certain area, then take it as confluence to TA that we want these levels to get hit.
Typically these orders get hit. In fact, in my experience, it is wise to expect such places to get hit. If not further.
Not immediately, but eventually.
To exploit these for trades, my observations lead me to two ideas.
The first is illustrated in this chart and idea.
When price really wants to fill these orders, it typically breaks it. All hopium fails. We eventually get it.
So we can place longs underneath massive such orders on the next such order concentration, as shown in the chart.
Another idea i'm considering is that its a good idea to expect these areas to get hit as targets during a strong trend in one direction. So if we're going down and there are big orders in a certain area, then take it as confluence to TA that we want these levels to get hit.
Penafian
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