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Thanks for the interesting thread. I've utilized support and resistance swing trading strategies on equities for 25 years and and believe them to be extremely rewarding setups provided you are patient and wait for the shenanigans to play themselves …
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.
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