My honest notes so far:
- 07:59–08:04. Aggressive prints line up with direction more often than not. If buyers lift the offer repeatedly and price holds above the pre-open high, the first leg usually has follow-through of 6–10 pips.
- 08:05–08:12. Still readable, but the signal gets noisier. Large prints show up on both sides and you start seeing absorption instead of clean pushes.
- After 08:15. For me it becomes almost useless on a retail feed. Liquidity is back to normal, the book refills, and whatever "flow" I think I see is mostly my own bias.
One caveat. FX has no central tape, so all of this comes from one broker's feed. A different LP mix might show a different picture, which is exactly why I don't size up on it.
Anyone here using flow tools beyond the first quarter hour and getting something consistent out of them? I'd like to hear what instrument and what feed.