The video is very helpful, thanks.
May I ask, do you find using delta helpful with the reading of tape?
Does delta divergence help you spot any discrepancies in the bid ask and thus fine tune your entry any better?
I really want to learn more about reading tape. I have read all the posts but still a bit lost. I trade the euro dollar and look for rejections of S/R or a break pullback and continuation off pivots always in London open. I am currently looking at delta divergence to help the entry off the pivot, but it's hit and miss, that's why I want to learn the tape, but very overwhelmed.
Could someone maybe do a video as before but place some commentary after (audio if possible) to help explain what has just happened.
Last edited by shahab121; December 11th, 2011 at 06:05 PM.
My first post in this thread, and this forum. This question is for people who trade solely on the order book. I'm spending some time learning the order book, and I'd like to know if, when you initiate a position, is it primarily based on 'feel' ie, you just get the overall impression that the market is being bought or sold off, or is it specifically by way of setup - one setup might be:
1. Lots of trades not breaking through the offer;
2. Large bid disappears and is replaced by large offer;
3. price breaks x ticks down immediately;
Initiate short position...
I know there are specific setups that have been described, but sometimes I just 'feel' like the market is going to head in a direction, and i'm not sure why. Should you be able to describe the action before you initiate, or are you guys successful just by the 'feel'?
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