Hi everybody,
Does anybody use a combination of both technicals and DOM to trade? I guess this applies mostly only to day trades as DOM would be of more significance if you are entered a trade at that moment and scalp for a couple ticks or points.
Basically, you will wait for price to reach an area of interest and you watch the DOM to try to figure out if the bulls/bears have won and enter a trade based on what you have figured out. This will fine tune entry points as opposed to waiting for a signal bar to form or even worse, a signal bar may not form and market just leaves without you.
Thoughts on this?
Willing to elaborate further if you guys don't understand what I'm trying to put across.
Cheers!
Does anybody use a combination of both technicals and DOM to trade? I guess this applies mostly only to day trades as DOM would be of more significance if you are entered a trade at that moment and scalp for a couple ticks or points.
Basically, you will wait for price to reach an area of interest and you watch the DOM to try to figure out if the bulls/bears have won and enter a trade based on what you have figured out. This will fine tune entry points as opposed to waiting for a signal bar to form or even worse, a signal bar may not form and market just leaves without you.
Thoughts on this?
Willing to elaborate further if you guys don't understand what I'm trying to put across.
Cheers!
TA + DOM Trading
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