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The most commonly played areas to trade off also tend to be those that are the most visually appealing. It should therefore come as no great surprise that the most visually appealing Support and Resistance are the ones that are most discussed on trading …
When i use CD i like to see that it trends along with the price trend, I also pay attention to delta spikes, which are better seen on delta volume indicator. Consider second chart attached (bottom indi)
Overall, all reversals happen in 3 stages:
1. Culmination - big sells or big buys, usually at some S/R level.
2. Accumulation - low volumes (small range delta bars) price ticks up and down (best seen on range bars).
3. Stop run and initiative - pressure builds up in opposite direction (delta bars and volume gains strength).
Also here's the video which explains reversals from order flow point of view. When responsive demand meets initiative supply - that is where you get big volumes.
Hi guys, I have been following this thread and am starting out to learn how to read the order flow.
I have a question on the DOM window. I noticed that on some DOMs, there is a column of numbers on the right for each price level. On some DOMs, this column is missing.
What do these numbers represent and how do they help out in tape reading?
Are they a necessary component of the DOM? The reason for this question because some DOM windows i saw only have bid/ask and price columns.
Big Mike
Manta, Ecuador
Site Administrator Developer Swing Trader
Experience: Advanced
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It's a volume profile distribution and the numbers represent the amount of volume traded at that level.
You can check the main Volume Profile thread for discussion on value areas, points of control, and more:
I felt that we needed a thread dedicated to the discussion of Volume Profile.
Some basics, you can hover over these and click on most of them to get more info in the wiki. I also encourage you guys to improve the wiki articles by editing …
And I wouldn't trade without it. But I am not a scalper.
Tape reading tends be be mentally exhausting, it is relatively easy to miss something, and for all but a gifted few, the trading patterns hidden in this data can not be directly observed
* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
Jigsaw Trading
Posts: 2,988 since Nov 2010
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You could say the same about driving a car when you have just had 2 lessons.
After 100 hours of driving, it's something you do without much thought.
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