aliassmith wrote:Note to self. Make post about interplay of order stacks.
So order stacks as I have been calling them are price points/areas
that have a higher concentration of orders. They are basically zlines,
S/R, Supply/Demand, etc.
These price areas are created different ways and on different timeframes.
An example of a popular one here at kreslik.com is the zline/mightyzone.
A small body candle forms and then a larger body "MOMO" candle forms.
Within the Mightyzone there was most likely a breakout that occured. After
the people are in profit for a little bit they move their SL to near BreakEven
,this cause an order stack area to occur.
In my trading I choose to fade these order stack areas. Just about every
time, these areas create a speed bump/bounce of some magnitude. They
don't always make big market turns, but it is a major one of MightyOne's
principals that I have researched and find as a valid area to take notice.
When trading before you came to kreslik.com, where have "YOU" been
known to place SL orders?