Went long at the 2ND IB extension

we are at the extremes of the last two days

Say major cumulative delta rising and very posotive delt on my foot print

Going to see if we can come back into value now and target RTH Vwap

Attachment 102101

What i did today

We opened up in ETH value and inside yesterdays range

NO trade off the open

We saw GLOBEX highs get tested and the IB came in

cumulative delta started to fall as buyers started to back off of the ASK

We rotated out of yesterdays value area and i started to sell the IB highs and RTH developing Vwap highs

@greenr

Great trading there! Did you place any weight on the single print area from yesterday as a place for a reversal(or at least a quick move away from it) and therefore another reason to take the trade you took today?

Wolf

Does anyone in here only do gap closes, 3-4 tick, when there is more than 10 ticks between the 13ema and a strong barrier? I have been off and on with this and I am looking for some advice. Thanks alot.

This may be the wrong thread for your question.

Sorry man, I am New here. Do you know what thread might be more up my alley?

Sorry man, I am New here. Do you know what thread might be more up my alley?

Great question. You can certainly do that as well. It comes down to personal preferences. I prefer to see the volume printing in real time as it fits within my trade criteria.

One of the reasons I prefer to use the footprint is that it enables me to see inside the bar. I know that sounds cliché at this point but I can't think of a better way to describe it. I want to be sure that I'm trading in line with the order flow. This is not as visible in other ways of looking at the market. Additionally, I'm in a trade well before other traders are waiting for a signal bar and have started to scale out of my position. This is obviously much more advanced and wouldn't recommend this for everyone. In the example I provided, this was not the case obviously but on many other examples it clearly gave me an advantage. The footprint also helps me in managing my risk on a trade. If I'm in a position and I see a continuance in the direction against me, meaning orders are strongly breaking through my entry area, it allows me to get out before I take a hard stop. What I mean by strongly is large volume in the other direction. Again, this is a bit more advanced but that's the gist of it there and its not after the bar has closed, its real time.

Looking at a fast chart IMO, does not provide you with the bigger perspective of volume filling in. Not only that but a fast chart will provide many false signals. When you are referring to a histogram, you aren't able to decipher what side of the market the volume is printing and how its a continuance of the order flow or resting orders cutting off the opposing side. In a market like CL, it is notorious for overrunning key levels to shake out the weak hands. The footprint is the absolute best tool in seeing that in real time. My example from Friday is precisely that. Hopefully that makes sense.