We’re all familiar with the tactic of selling at a peak and purchasing during a dip. Despite its sophistication, it appears that only a few traders, including some prominent ones, actually employ this approach. Now, let’s delve into the substantial order blocks found in ninjatrader. The originators of these sizeable order blocks remain somewhat mysterious, denoted by green circles for long positions and red circles for short positions. It maybe institutional traders or maybe retail traders, we dont know.
What we can see is the prevailing pattern of buying high at the momentum and maybe selling later
First hour of the session on 8/23
Session snippet from 8/24
On the next day we see prices dropping and large blocks are placed not at the high places but on the low. Again it supports the idea that majority scalping trades go with the momentum and not with Buy Low and Sell High idea.