In this video, I’ll be ripping apart GBPUSD via my publicly available OFA script.
For this analysis, I’ll be looking at both the daily and the 8h, which details the action from a session by session standpoint.
When it comes to unpacking the daily order flow, the OFA script has been signaling to stay bear and bear only since last sept…
Ever since, there has not been one single instance in which the script turned bullish…
What this implies is that this market, on lower timeframes, has and continues to be one characterized by looking for short setups, which as I’ll show once we go down the 8h, signals have flourished and prospered.
The script analyzes order flow based on fractal structure breaks. Every time there is a fractal breakout in the opposite direction of the dominant side in control, a new leg ( bullish or bearish ) forms.
This script comes with the added value of displaying the velocity and the magnitude of each leg/cycle. The script reads the aggregated flow. The proper reading of order flow provides information advantage.
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