What chart patterns should be ignored in range trading!? A Cannon Trader explains the trading approach using the OANDA order book
The method practiced by the Crab Trader is to identify biases in market order flow using the OANDA order book. On the other hand, in situations where there is no bias in orders and no expected value, he says you should skip trading. In this video, he explains this in the environment of the USD/JPY 5-minute chart ahead of economic indicators.
What you can learn from this video
In this video, you can learn the following:
- When a range continues, order flow tends to be balanced
- However, if news comes out, there is a possibility of a large move in one direction
- Orders accumulate on both the buy and sell sides before economic indicators
- A bias creates an expected value! If there is no bias, wait and observe
- It is a skill to pass on trades when there is no opportunity
● Video: 11 minutes 15 seconds
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