FX market moves where there are orders|The real mechanism behind price movement
When I first started trading,
I only watched candlesticks.
Will it go up next?
Or will it go down?
I added indicators,
and kept looking for entry points.
But at a certain moment I realized.
The market moves only where orders come in.
If you enter where no one has placed orders,
the market won’t move.
It always moves from the same places.
- Moving averages
- Round-number levels
- Highs and lows
- Pullbacks
There, without fail,
orders and closures accumulate.
Today was a perfect example of that.
After a drop,
I waited for it to return to the 5-minute 25MA.
There,
it’s a place where sell orders gather easily.
I waited without rushing.
And as expected,
it started to drop from there.
Only the juicy part,
I took.
Thank you very much.
There’s no need to try to move the market.
Just wait for the place where it moves.
Trading,
is, I think, a repetition of that.