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Tape is my shape (tape reading, time and sales)


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Tape is my shape (tape reading, time and sales)

  #1291 (permalink)
yachusai
madurai
 
Posts: 19 since Aug 2016
Thanks Given: 79
Thanks Received: 2

[IMG][/IMG]


Above images is offer filled @4872 This is point 2 in my comment


[IMG][/IMG]


above image shows before price reaches there it reduces it sizes . this is point 3 in my comment

@sierikas

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  #1292 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
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yachusai View Post
[IMG][/IMG]


Market trading at 4872 to 4870 support zone

1 in rectangle marked area @4870 bid is 110 ,price test the bid @4870 and eat all the bid and goes to 4869 then less happen @4769 so market goes to 4872 .

2 @4872 offer size is 25 it fills slowly and then 100 offer appear @ 4872price then price drops to 4870 , @4870 area again decent amont of transaction happen . then price moves to 4872

3 this time there is decent amount of offer appear @4871 4872 4873 4874 4875 but price reaches one by one this level they pulled their order and price goes to 4875 this time very small transaction happen at all level . then it drops to 4872

4 @4872 100 lot appear @ offer it fills slowly after it fills 25 only market goes to 4870 and eat all the bids and goes down . money flow comes in

[IMG][/IMG]

pls explain what happen at 3 and 4

reaction - sell off as there are no buying pressure

https://mobile.twitter.com/DaytrdScalpTape

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  #1293 (permalink)
 sierikas 
Vilnius, Lithuania
 
Experience: Intermediate
Platform: NT7, MD
Broker: Mirus Futures, AMP Futures
Trading: 6E, NQ, YM, ES
Posts: 21 since Apr 2012
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yachusai View Post
[IMG][/IMG]


Above images is offer filled @4872 This is point 2 in my comment


[IMG][/IMG]


above image shows before price reaches there it reduces it sizes . this is point 3 in my comment

@sierikas

I think, do not believe in level II too much...
believe in T&S...

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  #1294 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
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sierikas View Post
I think, do not believe in level II too much...
believe in T&S...

Big boys need liquidity. Public provides liquidity and believe in to the levels. This is why big boys respect levels - liquidity there. Especial CLOSE AND OPEN. Your antogonism wont make you happy. To read flow you need to became a market and this cant happen if you resist to any part of it.
Levels matters.
Order flow creates price action and than price action creates order flow. In yan

https://mobile.twitter.com/DaytrdScalpTape

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  #1295 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
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Order flow is about how to make market believe idea. Than use this idea to get liquidity. Thsn stop out naive traders. Order flow not about finding setups or focusing at one aspect.
To read flow you need to know how market works.

https://mobile.twitter.com/DaytrdScalpTape

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  #1296 (permalink)
yachusai
madurai
 
Posts: 19 since Aug 2016
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Hi @bloom ,


yesterday crudeoil move to support area 4891 to 4888 without much volume but in support bids filled in slow pace then market goes high .

[IMG][/IMG]

[IMG][/IMG]


Pace of tape in breakout breakdown stage goes fast .

in pullback times it goes slow . pace of tape really helps much Thanks

But in some times pace of tape in retest of low or high moved fast so i expect it to break low or high but it failed and moved opposite . i didnt able to find cleus in that time

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  #1297 (permalink)
 sierikas 
Vilnius, Lithuania
 
Experience: Intermediate
Platform: NT7, MD
Broker: Mirus Futures, AMP Futures
Trading: 6E, NQ, YM, ES
Posts: 21 since Apr 2012
Thanks Given: 1
Thanks Received: 7

try to filter the tape by volume - get more information
[img]https://a.radikal.ru/a17/1805/ba/89c919e7abad.jpg[/img]

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  #1298 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
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yachusai View Post
Hi @bloom ,


yesterday crudeoil move to support area 4891 to 4888 without much volume but in support bids filled in slow pace then market goes high .

[IMG][/IMG]

[IMG][/IMG]


Pace of tape in breakout breakdown stage goes fast .

in pullback times it goes slow . pace of tape really helps much Thanks

But in some times pace of tape in retest of low or high moved fast so i expect it to break low or high but it failed and moved opposite . i didnt able to find cleus in that time

Yes. This happens more often than you think. High pace of tape does not mean it will break out. Tape does not predict anything. High pace of tape means that there is a huge ammount of traders involved and that there is a high emotional gradue in this movement. Nothing more. No one know future. If someone knows it - future instantly changing by the actions of those who think they know.
Tape does not predict - it is shows what is happening
in your examples than Pace of tape high but level do not brake this means that there was attempt to brake through and it failed.

https://twitter.com/DaytrdScalpTape

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  #1299 (permalink)
yachusai
madurai
 
Posts: 19 since Aug 2016
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@sierikas hi , as per your chart it is in 71.60 level

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  #1300 (permalink)
 sierikas 
Vilnius, Lithuania
 
Experience: Intermediate
Platform: NT7, MD
Broker: Mirus Futures, AMP Futures
Trading: 6E, NQ, YM, ES
Posts: 21 since Apr 2012
Thanks Given: 1
Thanks Received: 7


...and look attentively your tape where in my photo the blue square is...

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