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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)

  #1311 (permalink)
Russia
 
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yachusai View Post
hi , @bloom



https://youtu.be/goX8ehtlKA4


@912 some sellers hit the bid then market pullback to 917 from there it again goes to 913 to 912 area . @913 to 912 area lot of sellers hit the bid but price not movedown further so price moves to 915 with less transaction and again goes to 912 this time also sellers hit the bid but no movement , so sellers think something went wrong against them , this time in the move up lot of buyers hit the offer and move the price above .

Correct 100%
Aslo exist scenario than sellers not covering after they saw price is not going down. Think why


Last edited by bloom; May 29th, 2018 at 03:49 AM.
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  #1312 (permalink)
madurai
 
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bloom View Post
Correct 100%
Aslo exist scenario than sellers not covering after they saw price is not going down. Think why


I dont know but from your notes i give this answer .

1) Maybe they expect more down side and they put their exit bid below 912 level and they expect late shorts hit their bids


2) at 2nd retracement from 912 to 916 less transaction happen so shorts think no buyers or buyers are not convinced there is long opportunity . so shorts not cover their orders

But above 916 level more transaction happen at offer side and rollon so this maybe shorts stops and new longs

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  #1313 (permalink)
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yachusai View Post
2) at 2nd retracement from 912 to 916 less transaction happen so shorts think no buyers or buyers are not convinced there is long opportunity . so shorts not cover their orders

Good. Still one more reason exist


yachusai View Post
But above 916 level more transaction happen at offer side and rollon so this maybe shorts stops and new longs

This is why shorts start to cover as they saw no strong enough conviction to sell and strong conviction to buy

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  #1314 (permalink)
Dubai UAE
 
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@bloom, Hi!

Frequently notice the following behavior in ES: very large orders hitting the offer, for example, and the price reverses to the opposite direction immediately or quite soon. What happens to this large trades? Is it a "loss" in our terms? I understand reasons behind such action can be different, but just curious of what you think about that.
See the screenshot of price action of one of recent day (these orders were not covering, definitely new orders hitting the day's high according to me).

Thanks!

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Tape is my shape (tape reading, time and sales)-large-orders-hitting-offer.jpg  
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  #1315 (permalink)
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roadahead View Post
@bloom, Hi!

Frequently notice the following behavior in ES: very large orders hitting the offer, for example, and the price reverses to the opposite direction immediately or quite soon. What happens to this large trades? Is it a "loss" in our terms? I understand reasons behind such action can be different, but just curious of what you think about that.
See the screenshot of price action of one of recent day (these orders were not covering, definitely new orders hitting the day's high according to me).

Thanks!

Attachment 253618

Those prints are stops + breakout traders. They are trapped and train goes the "Pain Station"
This train do this already 100 years. Welcome

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  #1316 (permalink)
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Hey bloom, just started to read your thread here. Lots of insights. Glad to see you still on track with all that dom stuff as I`m started to learn order flow myself recently. Do you still recommend to watch monochrome time and sales? Greetings from Moscow Russia tho) Удачи!

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  #1317 (permalink)
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druzhinin View Post
Hey bloom, just started to read your thread here. Lots of insights. Glad to see you still on track with all that dom stuff as I`m started to learn order flow myself recently. Do you still recommend to watch monochrome time and sales? Greetings from Moscow Russia tho) Удачи!

Yes i do recomend. Thanks

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  #1318 (permalink)
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Hello everyone, long time lurker, first time writer here.

EDIT: this is in the ES

I have a few, maybe not questions but rather points open for discussion. I decided that I wanted to both learn tape reading and make this my approach to the journey of trading in the beginning of July last year. So as you can see I am a novice still.

I did nothing but watch the numbers run down my laptop screen for for multiple hours a day (I was in University still, so what else would I do from 3.30pm - 10pm?!) until about October last year when I first "saw" something. No kidding, it was pretty exciting.

What I noticed was both large #'s of contracts per trade aswell as a large number of actual trades hitting only one side, e.g. the Ask, without the level breaking towards the upside (in this example) aswell as no trades or maybe just a single 1 lot hitting the Bid. After that the price would drop for whatever amount of points, but I saw it and interpreted it correctly. This is exactly what I had learned from various videos I watched, that there was "more sellers than buyers" since an accumulated number of 1k+ contracts couldn't break a level.

Over the course of the following months though, I began not to "see" this anymore. Yes it still happens on the tape, yes price still reverses after such an event sometimes. I just don't spot it anymore.

Much rather what I'm "seeing" now are Levels (areas of a few ticks), sometimes even a single price that I can spot that "nobody is willing to pay" and thus price reverts. More often than not a few seconds after I said to myself "short" but didn't do anything

Did the market conditions just change? Did i subconciously shift my focus towards it?

I'm not really sure what kind of answers I'm expecting, basically I just wanted to throw this out there, maybe someone else is "seeing" the same as I do?

Sorry for the long introduction and possible grammar mistakes, english is not my native language.

Greetings


Last edited by MessageOfTheTape; March 8th, 2019 at 03:03 PM.
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  #1319 (permalink)
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MessageOfTheTape View Post
Hello everyone, long time lurker, first time writer here.

EDIT: this is in the ES

...in the beginning...


make your approach to trading from an understanding of what is happening ... without it, the tape will not work well...

and a very important moment you must determine what you are looking for in the tape, and not just the balance or imbalance of power ..
There is something in the tape that will give you the right entry into the deal ... This is the key to understanding the tape reading

Good luck


Last edited by easyjet; March 19th, 2019 at 06:20 AM.
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  #1320 (permalink)
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MessageOfTheTape View Post
Hello everyone, long time lurker, first time writer here.

EDIT: this is in the ES

I have a few, maybe not questions but rather points open for discussion. I decided that I wanted to both learn tape reading and make this my approach to the journey of trading in the beginning of July last year. So as you can see I am a novice still.

I did nothing but watch the numbers run down my laptop screen for for multiple hours a day (I was in University still, so what else would I do from 3.30pm - 10pm?!) until about October last year when I first "saw" something. No kidding, it was pretty exciting.

What I noticed was both large #'s of contracts per trade aswell as a large number of actual trades hitting only one side, e.g. the Ask, without the level breaking towards the upside (in this example) aswell as no trades or maybe just a single 1 lot hitting the Bid. After that the price would drop for whatever amount of points, but I saw it and interpreted it correctly. This is exactly what I had learned from various videos I watched, that there was "more sellers than buyers" since an accumulated number of 1k+ contracts couldn't break a level.

Over the course of the following months though, I began not to "see" this anymore. Yes it still happens on the tape, yes price still reverses after such an event sometimes. I just don't spot it anymore.

Much rather what I'm "seeing" now are Levels (areas of a few ticks), sometimes even a single price that I can spot that "nobody is willing to pay" and thus price reverts. More often than not a few seconds after I said to myself "short" but didn't do anything

Did the market conditions just change? Did i subconciously shift my focus towards it?

I'm not really sure what kind of answers I'm expecting, basically I just wanted to throw this out there, maybe someone else is "seeing" the same as I do?

Sorry for the long introduction and possible grammar mistakes, english is not my native language.

Greetings

you see trees not the forest
All that is happening constantly trapping other traders. You need to know where than how they are trapping. Within that context you can read a tape propely.
They are doing traps using supply and demand phenomens. Buyers always = to sellers. What is differs is that market orders ammount compare to limit orders. If market buy order exceeds selling limits price will go higher and vice versa.
To read the flow you need to know context.
Than i started this thread i was only begining my journey. Tape is only the part of flow. And it is SMALLEST part of it.
I dont know what to say to you man. Just wish you a luck and enough time and resources to study that in a proper way. If not - you are toasted.

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