I look like that. I look prints on the BID and ASK. Well that they were blocks. If no blocks, then look how long kept the price. Usually, when typed pose, pose slab or brick. If I have seen large blocks of BID, in large quantities, without the movement of prices, and then put the brick on the BID, I know what the pros have Long and want to move the price higher.
If there are more prints of ASK large blocks, then everything is OK.
In general, think about what makes the pros. It is easiest to tops of the day or on the low of the day, ironically. But the market is the paradox)))
This is just one of the situations. Tape reading is not simply the observation of prints. It's like trying to understand who does what. This requires a lot of experience. I have experience. I started out as a scalper on the Russian market and seen so much in 12 hours trading per day, which did not dream any position trader)))
And you're trading stocks or futures?
The following user says Thank You to bloom for this post:
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 2 users say Thank You to Big Mike for this post:
i use jigsaw, i watch the dom for zn zb and zf, i trade only zn, i am learning to read the order flow, also i watch the charts, MP, levels, etc
When the action speed up, it is very diffficult to realize exactly what happens, but overall one get an impression of momentum
I use absortion to my entries and also when disappair the fakes orders at bid or ask, i can enter
I have a lot of doubts about the tool,and also it terrible the difference between the data from differents providers
I would like to have a data that i can consider exactly
tape reading and large swings at big news releases
As I am trying to learn about how tape reading can, possibly, help in optimizing entry/exit levels, I would like to ask if anyone could kindly take as an example what happened to ZB 03-14 this afternoon few minutes next to the release of FED decisions on QE’s assets purchases and on long term interest rates. As indicated by the arrows in the attached chart, in just half an hour, there have been 5 reversals. I am wondering whether through tape reading one could actually identify (quickly enough, or even anticipate) these reversals. Thanks. guidoisot
The following user says Thank You to guidoisot for this post: