Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
DT i would also add that its of utmost importance not only to look at the imbalance, but also on the way market behaves - e.g. if big limits as per your example appear in the DOM and market orders start to eat those limits quickly, this really shows the buying initiative and is an indication that one needs to go long at this very spot. Moreover, those market orders don't have to be big block trades, the best moves actually happen when these market orders consist of big chunks of small lots.
Can you help answer these questions from other members on NexusFi?
Marker Order flow (Active flow) with large volume moves prices. And large volume can be made in several ways:
1) Large amount of small market orders.
2) Sufficient ammount of large market orders
3) Mixed large and small
And exist also limit order flow (Passive flow) as limit orders are come in and come out too. And this type of order flow STOPING market. And a few ways to actually stoping or fade market from movement. Guess which ways are)))
Hey Bloom, We were talking about cumulative bid and ask previously. THought I would share this imbalance with you. Seems like some pretty large resting offers for this time of day. I don't recall ever seeing resting orders of this size during the overnight. @ 2079 there are 3444.
"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
Hi @bloom,
Good to see that you are back! Its a pity I didn’t see your post earlier, I thought I was subscirbed this thread but wasnt just a lucky accident drove me here.
Anyway, I am here now and ready to learn this purest form of trading: reading the tape and the market depth.
I’d like to see and read the market like you do and I am willing to do the necessary work to achieve this.
According to your instructions I've created my workspace:
- monochrome tapes, one for a big and one for a small prints
- DOM
- a very limited chart
I am planning to make recordings from this for looking back analyzing and discussing them.
As you can see there are multiple instruments on it. In the beginning I am going to focus only one (the one you trade as well, so it is going to be easier to discuss it) of course, later as my skills are developing I might pay attention the other products too. Btw there is high correlation between ES and FESX so I guess there must be similarities in tape too.
FESX first
1. You see big transactions in a short period of time. Someone sells at the ofer someone buys with large market orders ro someone sells to the large bid. No metter. In which place occures this transactions or in which situation? Is this a top of the day? Or is this main resistance?
2. Begins consolidation 3078-3081
3. Trying to break 3081 top of consolidation.
In this moment what do you see:
1) Do large orders try hard to push higher from consolidation? Do you see large orders in a tight spread in a short period of time?
2) Small tape moving fast or slow or with unstable (faster slower) behaviour?
3) What DOM says you in this situation? Weak ofer - strong bid. What does they try to convince you to do as they know you watchig a DOM?
You mean the breakout just happend about half an hour ago from 3084? /different time zone its 1313 here now/
In theory yes, I've been recording it for an hour.
