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I'm using a footprint chart. So on the left side of the candle, you have buyers and on the right side, you have sellers, each level is 1 point. Now, on the marked candles you can see that the sellers (marked in yellow) overpower the buyers, yet the market goes up anyway. I wanted to know what could cause that?
Note. The volume is quite lower in the last 2 days than it was before. Typically you have anywhere between 500-700 contracts per every 5 min candle, but last 2 days you have around 200-300 per candle. Could that be the reason, also because it's summer?
Can you help answer these questions from other members on NexusFi?
Right side are buyers. They bought at the ask (paid/hit the offer). On your DOM the offers from the sellers are right. For a buyer to be able to buy she has to pay the offer. So your footprint chart shows aggressive buying. Demand (from the buyers) drives the price up.
What Mich said, on a footprint chart showing volume that has traded buying is on the right. (note that on a DOM or Depth or Market it is the passive sellers looking to get filled that are on the right above the market and passive buyers on the left below the market).
Regarding low volume you don't say which month Nasdaq contract you are trading. The equity indexes rolled over from the June contract (M), to September (U), at the end of last week/beginning of this week.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
On the marked candle, on the left side, you have an imbalance. Assuming sellers are getting aggressive and they are hitting the bid, hoping that the market will go lower, why then market reverses?
