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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)

  #221 (permalink)
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DionysusToast View Post
I can't recall seeing a thread on Tape reading as informed as this one on any forum. Let's all keep it up.

Pete

I agree.

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  #222 (permalink)
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bloom View Post
You can see there (all of the tapes) very large block at ask 1335.25-00 that shows you a big limit order seller on the ask. And so there is result
So this is was reversal print
Attachment 42643
Attachment 42642

How do you insert the pictures like that? When I insert pictures it says "Attached" above it and its at bottom of post.

O, Nice reversal.

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  #223 (permalink)
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pbylina View Post
How do you insert the pictures like that? When I insert pictures it says "Attached" above it and its at bottom of post.

https://futures.io/help-tutorials-how-tos/10992-how-capture-upload-screenshot.html

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  #224 (permalink)
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rocky9281 View Post
Ohh..actually I didn't know that sizes like 2500 is considered as a big block...now I realise

It's all relative, isn't it?

If we consistently take 200 contracts to get through a level and then this goes up to 1000, then 1000 could be considered a large block relative to the other action so far.

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  #225 (permalink)
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pbylina View Post
You could of went LONG on the way up in addition to going SHORT at the swing high. I just marked some swing highs and lows from 4hr, 1hr and 15min time frames.

Attachment 42649

9:10:47- Big Prints BID(1.4450) (Stop levels-XX00, XX50)
Smooth Prints at ASK. Normal Liquidity.
9:12:03-Medium Orders at BID (1.4455). Level Holds. Now at 1.4450 you can see a Big Limit.
9:12:20-Another Big print at BID.(1.4456)
9:12:46 -Fast tape on ASK. Running threw prices on low Liquidity at ASK. 1.4455-Big BID LIMIT.
9:13:02-Big prints on BID. Then fast Tape.
9:13:40-Big Prints on ASK(1.4460)Tape Pops Up.
Go SHORT at 1.4461. SL-2 ticks. Easier said then done.


Just remember this situation and look how it will develop in the future. It would be once again and once again and once again. You must to know this scenario)))
I am glad you set up levels))) Easy to look tape at specific prices.
You do not go short in a few reasons
1) You see not familar situation
2) Your DOMs price were to high and you do not see higher ask limits, and this information could be important
3) Stop loss 2 ticks on such blowable and fast instrument))) You are a hero

What situation on EURO in Global
Trieshe is living his last days as the BIG BOSS of ECB. He would be fired soon))) % rate of Eurounion could be rised up or not, but the fireing of Trieshe could bring EURO down to the basic support levels there China would go in or maybe some other big GUYS. In Euro there are a few of big moneys and EURO slowly went in to the flat. Very tight flat i must say. But this is IMHO)))
Ok. What i would do at your place of EURO fx trader.
Keep in mind that at this moment EURO is thin and i should choose my trades very accurate.
1)So it would be trades at opening time or near the time of closing market.
2)It would be scalps as there no big money in this EURO FX futures at the moment
3)It would be mostly short,because at any time at any day there may be "unexpected" information or surprize that will move price very good
4)Trades would be there i will see large limit orders and confrimation from tape)))
In this situation with short that you recored on the video i would not go short. Why? I am afraid of this type of trades with uncertain outcome. So i must say you were right not taking this one))))
But near the time of closing market there was one more short from those price levels. And what quality trade it was i dont know

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  #226 (permalink)
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Bloom, till now, I have come to know about 2 setups with the T&S.

1. Price rejection (watching important levels like previous OHLC , Whole numbers etc.)
2. Repeated buy/sell.

Are there other setups/strategies related to T&S trading?Please discuss them..

Thanks

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  #227 (permalink)
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rocky9281 View Post
Bloom, till now, I have come to know about 2 setups with the T&S.

1. Price rejection (watching important levels like previous OHLC , Whole numbers etc.)
2. Repeated buy/sell.

Are there other setups/strategies related to T&S trading?Please discuss them..

Thanks

Break out. Rejection reversal. Trend continuation. Trend exhausting.

In trading you are always have a deal wtih differents ways of behavior. Brakeout or rejection.
Repeated buyer or seller i s a type of rejection at current specific price level.
If you are able to say will it be rejection reversal or brakeout in 80 % of all situations you ll be able to trade all of them in profit
Repeated buyer or seller is a one of the types of rejection. It is also could be "faded rejection" when sellers or buyers fade and are not strong enough to move market.
Setups have different parts and may consist from several different parts.One setup 1) appearing big print 2) first reaction 3) confirmed reaction on back test. Or another setup where you would not see anything like in the first one
It is many situations. All i can show you is the important parts of which each situation are. But universal chain (INFORMATION- REACTION) is always will be.
What is repeating buyer? This is information, but how market reorganized itself according to this new information shows you what is really occurs.
So setups from the tape had many "IF" "THEN". It is difficult to say "reversal setup is" and describe it.
Right way is to say "IF" price go to the support level and "IF" there prints big block at BID and the speed of tape slow down "THEN" we have reversal, but "IF" after slowing down tape begin run faster on downticks "THEN" there is a continuation of downmovement. All of the situations are not 100% but have some % of probability.
What all the traders must know to be succesfull:
1) What type of reaction you see at the current price or level? Is it a breakout or rejection reversal of the this level?
Breakouts supported by big prints and fast running tape. Some times it is a light speed.
Rejections reversals are quite different. There may be big prints, but tape will move slowly or push and brake.
Also there are exists difficult activites that difficult to understand and yoll have to do is stay away.
2) Does we are see continuation or exhaustion? Hold position while move continues and go out with exhaustion.

If there is a big ASK limit this is a micro resistance and same for the big BID limit. So for them whould be true all of support resistance rules and supply and deamand rules.

I am glad to give you material as for advanced traders, but the way i did this one is the best i can do))))
I hope you received answers. If not ask once again. We are here at one boat))

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  #228 (permalink)
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Low of Day Breakout

This setup could not be any easier. At low of day there is Huge Limit on BID. It fools public into placing market order buy. This fills the Professionals who are short on Limit ASK. I would of took this setup.

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Bloom, you should make a video. I will give you the program I use in PM.

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  #229 (permalink)
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pbylina View Post

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Bloom, you should make a video. I will give you the program I use in PM.

Ok. No problms

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  #230 (permalink)
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pbylina View Post
This setup could not be any easier. At low of day there is Huge Limit on BID. It fools public into placing market order buy. This fills the Professionals who are short on Limit ASK. I would of took this setup.

Attachment 42678



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Bloom, you should make a video. I will give you the program I use in PM.

If it's ok, I'd like to join the party lol.
Many thanks to bloom (may your garden grow ) and all for this thread.
I've been doing a similar thing (tape reading) but via a different route using Gomi delta and POC's.
ie: reaction to levels.
I got a lot of good info from another Russian on Forex Factory that is on the same lines as bloom so all great stuff
from my ancestors...!

If I can bore you all with my simple questions ?
pbylina, thanks for the videos.
When you say huge limit on bid, could you clarify (ie time/price), because I'm not really seeing it and there for not understanding ?
I didn't see any noticeable larger prints ?
Many thx

Every moment I wake up I realize I know nothing, and then I smile...

Last edited by zt379; July 6th, 2011 at 03:01 PM.
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