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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)

  #921 (permalink)
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bourgeois pig View Post
Thanks Bloom. I like to hear your interpretation of what is going on. This gives me more insight. In the future I will have to set up 2 tapes. One with a large block filter...maybe 20 + and a small tape. I guess i'll have to keep an eye out for the deconstructed orders however on the small tape.

Large tape 100 contracts filter
Small tape without filter. At the begining you only need large tape as large trades making infrastructure of price movements and market

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  #922 (permalink)
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bourgeois pig View Post
Thanks for the commentary Pete. now that i think about it, this makes perfect sense. Kind of like the price action is leaving a wake in its path.....If I am understanding correctly. The limits on the side taking the heat are just sitting there, in some cases getting stacked, in some cases getting pulled for a host of reasons wether it be true intent or peacocking or drawing lines in the sand as i have heard you call it. But whats left behind in the aftermath of a move is left over limits that didn't get filled, Orders getting queued by traders looking for a optimal entry. But since there is kind of like a new building of posistions going on there it does not equal the cumulative of the side taking the heat. AM I understanding this correctly?

Absolutely - that wake is also known as a "liquidity vacuum".

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  #923 (permalink)
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Very good VID illustrates FLAT breakout at 2053 50. Monotape. It has everything. large prints at short period of time, good activity at the small tape. bourgeois pig this illustration to your short you post. Just think about this long the opposite way ))) Everything very similar - short or long )))) 2055 watch with attention. 2055 short sellers start to close short.


Last edited by bloom; December 1st, 2014 at 01:26 PM.
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  #924 (permalink)
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Please explain this

My indicators point long but to me the DOM says no.
How do you interpret the order flow at this snapshot in time?

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  #925 (permalink)
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bourgeois pig View Post
My indicators point long but to me the DOM says no.
How do you interpret the order flow at this snapshot in time?

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My friend you should read previous posts which was 2 days ago by me and Pete. As we say large limit orders 80% of times are to be taken. So your DOM also indicates that long takes a place as the offers are larger than bids
And once again there were accumulation 53-51 shorts locked at 51-52 and as price goes higher they want get out with small losses. So 55 is short covering. Why i manage 53 50 ill explain later

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  #926 (permalink)
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bloom View Post
My friend you should read previous posts which was 2 days ago by me and Pete. As we say large limit orders 80% of times are to be taken. So your DOM also indicates that long takes a place as the offers are larger than bids
And once again there were accumulation 53-51 shorts locked at 51-52 and as price goes higher they want get out with small losses. So 55 is short covering. Why i manage 53 50 ill explain later

I agree - especially when it's overwhelming like the above pic. 400 on one side and 450 on the other is meaningless.

Just be aware it doesn't guarantee continuation though. I was talking to one guy on Skype yesterday (not sure if he;s a member) - he trades crude and a the bids looked like this.... -

20 68.03
43 68.02
35 68.01
200 68.00
24 67.99
43 67.98
20 67.97

We were talking about going long with market orders and I said that at that time, you'd probably want to put a long limit order at 67.99 - just the other side of that bid. This is WITH a bias that's already long. Sure enough - went down to 67.99, traded there enough you'd have got a fill (I think it ticked to 67.98) and then up again.

So look at overall imbalance on the book but also for a cluster of bids/offers causing that imbalance.

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  #927 (permalink)
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bloom View Post
My friend you should read previous posts which was 2 days ago by me and Pete. As we say large limit orders 80% of times are to be taken. So your DOM also indicates that long takes a place as the offers are larger than bids
And once again there were accumulation 53-51 shorts locked at 51-52 and as price goes higher they want get out with small losses. So 55 is short covering. Why i manage 53 50 ill explain later

i read that ,and you are right. I ended up making my first winning follow through after that. If you want to see what i was looking at check out my journal. Feel free to critique me. I am just trying to learn. i try to update when i can but sometimes I lose focus when I journal and i should be paying attention to price.

Hope you had some good trades. Going to bed. see you next time.
https://futures.io/elite-trading-journals/33998-out-pen-into-pit-pig-s-journey.html#post457309

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  #928 (permalink)
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bloom View Post
Why i manage 53 50 ill explain later

Unfortunatly i have erase my screenshots of monotape of yesterdsays long at 53 50. And i do not want to waste my time to find this moment in the tick history. Ill try to describe this in the words
1) 51-53 was accumulation - this simple means we have a fuel to move. Breaks 51 we going lower - breaks 53 we going higher
2) Why 51 and 53? Cause this is the prices that was on the big tape. And at those prices swings happened as price goes to 51 and sellers pushing lower than from 51 behaviour changing and price goes higher to 53 50. And from 53 50 once again swing from buying to selling and move to 51
3) At 51 i see large transactions with attempt to brake, but sellers could not brake through LBO and buyers fade a brakeout.
4) At 53 50 i see large printing and buyers push higher so i see a chance to break higher as activity of small tape becomes faster. And this is mean small traders locked in a short position too.
I was long 51 50 and 53 50 were confirmation that long takes a place

Удачного трейдинга )))

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  #929 (permalink)
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bourgeois pig View Post
If you want to see what i was looking at check out my journal. Feel free to critique me. I am just trying to learn. i try to update when i can but sometimes I lose focus when I journal and i should be paying attention to price.

I am not Elite member and cant to read this )))
But i am not here to critigue. I just want to share my experience to help myself and everyone around me ))) And i want to create society of tapers who will share and help each other

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Another todays WID with good examples of breakouts. This is a good example of fast small tape. Remember this and never stood against such HOT pupblic
1) 56-57 short covering
2) 61-62 breakout
3) At 63 good example of exhausting of the move as volume of aggresive trasnactions becomes weaker and small tape calm down. Sellers begin to taking control. If 63 holds we go lower. If 63 not holds go higher

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