why is market microstructure so useful? @ Forex Factory

HOW TO FIND STRONG SUPPORT AND RESISTANCE LEVELS

For those of you who don't have the foggiest idea about, here's a straight-to-the-point brief training on what backing and obstruction is.

Initially, we should take a gander at a case of a very much characterized dimension of opposition on the GBPUSD:
This is the latest (in respect to the season of this post) outline from the GBPUSD pair. Each 'Tom, Dick and Harry' far and wide will know about this dimension @ 1.29 – 1.29100 ('hound zone').
A dealer will allude to a value level as obstruction if cost is either returning to a dimension that has been tested previously or like the precedent above, is presently coming up to 'check' old help. In the model above on GBPUSD, in the event that cost pivots back up toward this dimension at 1.29-.1.291, at that point we can think about this as the first pinch of opposition. This is a direct result of the old help (which is featured in the blue box) and that cost is bullish into the dimension. On the off chance that cost was bearish into a dimension of equivalent criticalness like this, at that point we'd allude to it as help (once more, similar to what we've seen sketched out in the blue box).
Backing and obstruction is an inherent piece of any monetary market. They're characterized by market members (you and me) and is a dimension in which free market activity (otherwise known as request stream) quickly moves. It's where the bulls and bears impact and as a total, the triumphant side wins. It's where the market is nearly in an accommodating or receptive point as purchasers or merchants respect their counterparties.
For what reason is backing and opposition helpful to your exchanging?
In the precedent on GBPUSD above, realizing that 1.29 – 1.291 was already huge help, we're ready to set 'traps' in expectation that if GBPUSD returns to this dimension, we're prepared to respond. Said another way; we're needing to know about key potential defining moments to limit the hazard and augment our reward however much as could be expected. What I'm alluding to here in exchanging is known as "R products" however that is for another article.
On the off chance that we can feature a noteworthy dimension of help or obstruction, at that point we know where an ideal passage point in the market is.
As this is an optional procedure, we should know about a couple of things while thinking about a dimension as huge or not. This is on the grounds that in spite of the fact that this is definitely not a reasonable science, we can in any case recognize some basic rationale.
The most effective method to discover critical help and obstruction levels
Let me set out the expansive tenets from what I've seen over almost 10 years in Forex:
Cost doesn't turn on a dime.
They're not exact dimensions but rather 'ranges' or 'zones'
Higher the time allotment, the more solid
The more a dimension is 'checked' with hardly a pause in between, the more likely it is to break
'Separation influences the heart to become fonder'
On the off chance that cost repulses from a noteworthy dimension for an extensive stretch in time, that dimension turns out to be progressively huge to penetrate on the first return to.
Dividing from each pinnacle/trough is essential
Concentrate more on the nearby cost of each bar while assessing a dimension
Backing and obstruction levels are bound to break amid higher fluid occasions of the day.
Entire numbers hold more intrigue – for example 1.2300/1.2000 (Carol Osler Ph.D. composed a drawing in distribution on small scale structure of Forex).
By and large, what can make your life simpler in finding these dimensions is to look on the "line chart" on Meta-broker 4. This will demonstrate to all of you the nearby costs of each bar.
Once more, this is the every day time span on the equivalent GBPUSD diagram. You can see that I am not searching for impeccable dimensions where cost has turned on a dime yet I am generally adjusting to the expansive focuses above.
Get into the daily schedule of illustration critical and clear dimensions of help and opposition. It not just serves you in monitoring 'obstacles' or levels in which cost may battle, however more critically how you can be set up to exchange these dimensions if and when cost returns to them.
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Carol Osler Making money at the figure: A test of trader psychology . Leslie K. Mcnew. December 01, 2014. Prices move in a series of peaks and troughs that create the market trend—this, in turn ... Source: King, Osler and Rime, 2011, p. 4 These charts represent average daily interdealer trading by time of day. “Note: The horizontal axis shows hour of day (GMT), and the vertical axis shows the average number of trades. The five lines are for 1997, the three 4-year average for 1998-01, 2002-05, and 2006-09, respectively, and finally for 2010. From e.g. GBP/USD (figure c) we see the ... In the last article i'm reading, "The market microstructure approach to foreign exchange: Looking back and looking forward" by Michael R. King, Carol Osler and Dagfinn Rime,much in line with this one by darkstar "why is market microstructure useful" i understood "Order flow can and does reveal the intentions of private information" but still remain the main question " Is determining order flow ... The Foreign Exchange (Forex) Market Explained: Dynamics, Participants and Transaction Methods 1. A graphical translation of “Foreign Exchange Market Structure, Players and Evolution”, by Michael R. King, Carol Osler and Dagfinn Rime, last revised on August 14, 2011 NoBrainerTrades.com 2. Price is nothing more than an advertizing mechanism. It's its part of the "price discovery process". The Price/ticker/quote is advertizing. It moves to solicit and encourage trade (looking for a response) It moves in search of participants in order to facilitate trade. Different prices at different times attract different TF participants. Beste forex indikatoren. Carol osler forex. Cysec forex brokers . 04.07.2017 Andrew_1 3 Comments . CySEC was cysec in as cysec of Article 5 of the Cyprus Securities and Exchange Commission Establishment and Responsibilities Act as a public body of the company. When Cyprus joined the European Union inCySEC has become simultaneously a part of the European MiFID regulationgiving the companies ... "carol Osler" (Do a google search and download all the papers on her site) ... Nothing can replace you doing the word and going over charts yourself. 3) If you spend an hour on Forexfactory, you should spend another hour going over charts...way more valuable! 4) Read "Hedge Fund Market Wizards"...the best book teaching you how the SMART MONEY thinks. You can also learn about failures of people ... It's better to learn and discuss the mechanics of orderflow and forex market microstructure than to focus on specific occurrences suggested by the chart posters along with their own personal speculations that nobody cares about. Give a man a chart interpretation; you have fed him for today. Teach a man how to trade, and he will post more charts. Post # 462; Quote; Jan 26, 2011 11:05pm Jan 26 ... BUT, we can predict it because we know some internal variables (our charts). Imagine this: A coin toss has a 50-50 chance. But if we know that if that coin toss occurs in a hot weather, it will throw a heads more often. If it's cold, it will throw a tails more often. I think our charts are like the weather in my weird example above. The market ... All content in this area was uploaded by Carol L. Osler on Apr 16, 2016 . Content may be subject to copyright. FRBNY Econ omic Policy Review / July 2000 53. Supp or t for Resis t anc e: T echnical ...

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