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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)

  #371 (permalink)
Trading for Fun
Canada
 
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Instead of staring at the DOM, you should just learn some basic programming and set alerts for yourself.

It would be insane to stare at the DOM when 99.9% of the time there is nothing useful shown.

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  #372 (permalink)
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8. Part 1 - Big Orders

Lets set the scene: There was a big move about 150 ticks that got done 8 hours before this one. Now we are at a support and a lot of orders are getting filled but price is more or less sitting here so probally gonna be a big move.

1)Something seems to be pushing tape down.
2)Then fast tape and big prints at 1.4440~. But tape steadily slows down fast and comes to stop like car putting on breaks. Absorption.
3)Goes up steady but slow back to 1.4444.
4)Comes back to 1.4439~ and again fast tape, big orders and absorption.
5)Flow is nice now going up. When going down getting absorbed.
6)There is a struggle from 1.4445 to 1.4450. But overall uptick tape flow is smoother

Bloom, you say you keep your position open till before the close? Why?


Last edited by pbylina; July 28th, 2011 at 11:08 AM.
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  #373 (permalink)
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pbylina View Post
Lets set the scene: There was a big move about 150 ticks that got done 8 hours before this one. Now we are at a support and a lot of orders are getting filled but price is more or less sitting here so probally gonna be a big move.

1)Something seems to be pushing tape down.
2)Then fast tape and big prints at 1.4440~. But tape steadily slows down fast and comes to stop like car putting on breaks. Absorption.
3)Goes up steady but slow back to 1.4444.
4)Comes back to 1.4439~ and again fast tape, big orders and absorption.
5)Flow is nice now going up. When going down getting absorbed.
6)There is a struggle from 1.4445 to 1.4450. But overall uptick tape flow is smoother

Bloom, you say you keep your position open till before the close? Why?

Take a look at the daily charts. As a trend up, days in 80% of the situations close at the higher prices. So if you take a long at the low of the day there is high probability of closing prices higher than your entry point. And it would be a days range.
As the trend up you bull and buy low and hold
As the trend down you bear and sell top of the day and hold
previous days HLOC helps you to Determine low or high of the current day with high probability
And i hold position only with a runners. 3 CARS buys. 2 take scalp and money to my pocket. 1 CAR run to the closing time.

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  #374 (permalink)
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bloom View Post
Take a look at the daily charts. As a trend up, days in 80% of the situations close at the higher prices. So if you take a long at the low of the day there is high probability of closing prices higher than your entry point. And it would be a days range.
As the trend up you bull and buy low and hold
As the trend down you bear and sell top of the day and hold
previous days HLOC helps you to Determine low or high of the current day with high probability
And i hold position only with a runners. 3 CARS buys. 2 take scalp and money to my pocket. 1 CAR run to the closing time.

That would be crazy cool! Euro daily range is about 130 ticks! Nice strategy! Thanks.

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  #375 (permalink)
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10. 200 sma support



Last edited by pbylina; July 28th, 2011 at 11:09 AM.
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  #376 (permalink)
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11. Swing low, Support 2, 200sma support



Last edited by pbylina; July 28th, 2011 at 11:10 AM.
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  #377 (permalink)
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12. Daily Low, Support 3



Last edited by pbylina; July 28th, 2011 at 02:52 PM.
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  #378 (permalink)
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pbylina View Post

Is it clear that tape moving fast at the low of the day so there is good probability of breakdown?
Pay attention to 1.4415 there is big BID limit. If it get filled then reaction will happen. Your entry point is this price 1.4415 because after filling this order many traders would sell and make good flow
9:06:05 enter to the breakdown.
Note to yourself how market behave itself relative to big limits. No reversals no slow down of the tape. This orders are get filled and this indicates large supply. So tell me. What a quality of how they are get filled? Is it good or is it bad? I think you already know the answer .
BEARS run this market at the moment.
9:08:18-19 you can see how move down supported by BIG guys and they are agressive so they are expected lower prices.
9:08:24-28 appears big prints indicates there are big passive buyers, so its up to you take your scalp or protect position by setting SL closer or to the entry point. Done
1.4400 market slow down? is quality of filling orders became worse? If yes than protect if you are still wait for a great ONE TRADE)))
Take your profits manage your SL

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  #379 (permalink)
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pbylina View Post

Show us a breakdown of 1.4400 if you have a video

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  #380 (permalink)
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Important Notes


I will post some topics,which are SUMMARIES of multiple posts under this thread, I tried to bring them under a single post.I request the seniors to review whatever I am posting here and please point out those assumptions which are wrong.

Please note that our country does not provide a well defined DOM. So, I have used the Time and sales prints as the only tool.

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