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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)

  #961 (permalink)
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hi BLOOM!
I really like your thread and your pragmatic explanations. I tried to find a post that explains the monochrome but my eyes became tired. Could you be so kind as to briefly explain the monochrome preference?
Thanks

"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
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  #962 (permalink)
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bourgeois pig View Post
hi BLOOM!
I really like your thread and your pragmatic explanations. I tried to find a post that explains the monochrome but my eyes became tired. Could you be so kind as to briefly explain the monochrome preference?
Thanks

1. BIG transactions - this shows interest of big guys
2. The behaviour of small tape - this shows a crowd and large MO orders of big guys that had been broken to smaller peaces ( so you could not see them)
3. Level 2 - what the are try to show to you
Read a few last posts by Adamov and watch his VIds. Watch 3 things i mentioned and remember or better record somwhere your observations. Than post here. We will dig this stuff and in process you will understand
The main preferenece of monotape is to show you that you are dealing with transactions and not with BID ASK. To show you something that important and with colored tape and with monochrome tape so you did not distracted with something else.


Last edited by bloom; January 14th, 2015 at 06:48 AM.
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  #963 (permalink)
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bloom View Post
LETS GET ROCK )))) Hi everyone - i am so f***ng glad to see you guys )))
I have something new for this thread. I have more experience level than before in tape reading and i am ready to share. Please welcome to my BLOOM TAPEREADING PIT STOP. Share your TAPEREADING CASES (TRC) and i will try to explain them.
TRC requirements:
1) Full chart pattern from very begining of pattern to the end of it.
There is 2 patterns i will watch 1) Breakout of price level and further movement; 2) Fadeout and reversal movement
Notice - your particular PRICE LEVEL of reverse or breakout MUST BE ASSIGNED on the screenshots of CHART

2) Large Tape records from begining of chart pattern to the end of it.
Lets say your chart pattern begins 10:30 and ends 11:30. I need records of LARGE TAPE from 10:30 to 12:00 in the form of screenshots. Large TAPE screenshots i repeat ))) Whos the real slim shady?)))) ok

3) Optional. Screenhots of level II in the key moments of your chart pattern.

PS. I am planning to make this thread something bigger than just TR thread. I think all of you and i together will make such good content to share us experience that this thread will be a good starting place for a newcomers)))

SO LETS GET ROCK

I think it is a time to repeat something:
First of all old things
1) Large prints - use agrigated or usual tape this is your choice. I prefer usual.
2) Movement of small tape, behaviour of small tape - how it changes dependently from situation that devlops right now in the current moment.
3) Places where trasnsactions occures.
Borders of formations: Flat high and Flat low. Consolidation High and Low
Extremums of current day, month, weak, year.
You could use your own levels to see are those levels interesting to big guys.
4) LVLII
Scarecrow - watch 01122015 FESX 3070 breakout - you will see Scarecrow and how crowd reacts, how small tape explodes than crowd see those Scarecrows
Pouchig - watch 01122015 FESX 3070 breakout how someone try to Pouch on BID before breakout
Dumping - watch 3055-3090 movement how big guys standing on the limit ofer side and getiing filled. Why do they show those sell limit ofers?
And little new )))
5) Steping UP (take the Ofer hold the Bid) - Steping DOWN (take the Bid hold the Ofer)
Each move based on those steps. Series of steps makes larger moves. Combinations of steping up and steping down makes Patterns.


Last edited by bloom; January 14th, 2015 at 07:23 AM.
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  #964 (permalink)
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Adamov give us a good Examples:
1) FESX Flat 3055-3040 FLAT LOW REVERSAL PATTERN
Records of pattern from start to the end and result:
A)Small tape
B)Large tape
C)LVLII
D)CHART with assigned levels
2) FESX Flat High 3055 Breakout
Records of pattern from start to the end and result:
A)Small tape
B)Large tape
C)LVLII
D)CHART with assigned levels
3) FESX 3090 High fake Break out
Records of pattern from start to the end and result:
A)Small tape
B)Large tape
C)LVLII
D)CHART with assigned levels

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  #965 (permalink)
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bloom View Post
Ask Pete - Pete what you will do if you see large print at BID? Pete will answer - Depends on what this actuall MO will do. If it brake down i will be looking for short. If BID holds i will be looking for long. So what Pete does and every pros does the same thing? ))))

In my „model” I used some rough assumptions:
  • During that high volume trading all the buyers bought what they wanted / all the sellers sold the whole quantity they wanted / all the stops are liquidated / all the profit realized
  • The buyers and the sellers are in the same „timeframe”
  • they have the same risk tolerance and profit expectations
  • they trading only this market, not hedging against any other markets
  • etc..
You are right only from this information we shouldn’t jump to conclusion that fast. This is just our starting pont, its not going to determine what will happen, just gives some „weight” the possible outcomes. It describes which side is more vulnerable, who has bigger exposure. The actions happening after that will decide where the price goes.

According to this lets inspect the cases again:
  1. If the new buying is stronger and price keeps going up the short’s stops will fuel the movement. if the new selling is stronger and price falls the buyers’ stops will fuel the retracement. Both has the same weight.
  2. If the new buying is stronger price will still going up but the sellers wont covering their position because they aint have any so it wont accelerating the upmove. if the new sellers win the battle, the buyers’ stops will fueling the down movement. There is much more potential in the down movement than the up movement
  3. if new buyers win: earlier short stops will fuel the up movement. if sellers win: there is no buyers' bailout to fuel down movement. much more potential for the up movement
  4. eihter side win, no stops will accelerating the move.
Further limitations for this model:
Unfortunately we dont have real-time open interest data we can only suspect wheter money comes in or goes out from market.

So I a guess Pete and the other pros choose the stronger side of the market and go with it.

Btw I am recording the market diligently and going to post them but before I try to read a book I have to learn the alphabet.

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  #966 (permalink)
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adamov View Post
In my „model” I used some rough assumptions:
Unfortunately we dont have real-time open interest data we can only suspect wheter money comes in or goes out from market.

I have real time OI on the Russian market. It doesnt change anything. OI rise - price stand still. OI rise - price rise. OI rise - price fall. 33%))) Guessing is better )))
I do not want to offend you - I think this is not your Idea or model
Your model could only rise from your own practice. I tell you to not offend - Just to show those things good but just a clouds. I suppose you need to think another way - more grounded. You can't check those ideas - but the TAPE is real. Rithm and orders are REAL, they in front of your Eyes. Behavioural patterns of Big guys REAL. LVLII dances real. And Big guys do one thing - REACT to obstacles. BID holds? Long reaction. BID brakes? Short reaction.
You thinking in the term of future. You need to move your focus closer to NOW.
Right now we have LOW breakout. Steping DOWN with Large Transactions. What type of reaction to this type of situation i see RIGHT NOW? How could i understand what type of reaction i see?
LVLII
Small Tape
Large Tape
THis is all TR about.
Throw away all ideas and focus only on the things you COULD CHECK ON YOUR OWN. So this will made your Model

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  #967 (permalink)
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bloom View Post
I do not want to offend you - I think this is not your Idea or model..

well actually I am here to learn TR and not for stroking my ego so no hard feelings here.
Just wanted to answer the question why could sometimes high volume stop the movement and other times why not.
But now I see I wasn’t the original question.

bloom View Post
4) high volume at the low stops the move. - You do not know this, so this is your opinion. As for me not the high volume stops the movement. Sometimes movements stops after high volume and sometimes it continiues further. So what stops or continue the movement?))))

The question was: What stops or continue the movement if not volume?

From now I'll "keep it real" and discuss the real TRC-s and keep away from hypothetical chit-chat.

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  #968 (permalink)
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adamov View Post
The question was: What stops or continue the movement if not volume?

Reaction.
Low of the day, heavy buying - Pro react Short and going against buyer - result breakdown. Pete watch them and go short too )))
Low of the day, heavy buying - Pro react Long and going with buyer - result reverse. Pete watch them and going long too )))
Different reactions will look different and make different outcomes - but reactions are always there


Last edited by bloom; January 14th, 2015 at 09:30 AM.
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  #969 (permalink)
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bloom View Post
Reaction.
Low of the day, heavy buying - Pro react Short and going against buyer - result breakdown. Pete watch them and go short too )))
Low of the day, heavy buying - Pro react Long and going with buyer - result reverse. Pete watch them and going long too )))
Different reactions will look different and make different outcomes - but reactions are always there

Makes sense, but I still fail to see the difference how pros react short or long.

I am a little lost, are we talking about a particular case? Can you show me when and where the pros went against buyers and when and where the pros went with the buyers?
Where Pete went short and where went long?

I really want to understand this.

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  #970 (permalink)
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adamov View Post
Makes sense, but I still fail to see the difference how pros react short or long.

I am a little lost, are we talking about a particular case? Can you show me when and where the pros went against buyers and when and where the pros went with the buyers?
Where Pete went short and where went long?

I really want to understand this.

One of the keys to any trading methodology is understanding the state of the market.

As of today the ES is extremely volatile, sometimes a market will be in a tight range, sometimes it will be putting in a one way move.

So there is no single formula on what to do when you revisit the low of the day on this particular market. But on the most common days, there is a little dance being played when you revisit the lows.

These are visually appealing areas to trade. You will often get a breach of the low by a few ticks to sweep the breakout traders in and then it'll start moving up - as it moves up, you will see buyers jump in. Buyers could come in at the low, before the low or after the low was breached. As they come in the buy market orders will significantly outnumber the sell market orders.

That buying will move price up - but there is a seller looking to absorb that buying. They just know that if they do that too early, it will discourage other buyers.

At some point buying will no longer be moving price up. This is because the sellers are now absorbing it. You see lots of green prints but no more price progression. Sometimes they absorb and then let it go up a few more ticks (making buyers more comfortable again) and then absorb again.

At this point, these new buyers are trapped. They will bail when we go back through the lows and that will give a pop down when it occurs.

But with the market as volatile as it is now - this sort of thing is very risky, so I don't think you will see much of it and if you do , it will happen very quickly. Perhaps too quickly for you to jump on board.

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