GBPUSD playing!!!!
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(binned per thread starter's request) Market bottom rotation trad
- #6,177
- Dec 6, 2018 9:00am Dec 6, 2018 9:00am
- Joined Nov 2012 | Status: Trader | 12,211 Posts
Some tape examples today from TST on equities. Basically the same pattern explained on previous pages: low float stock, bs news, bad financials of company, big gap up on low pre market volume. Once that is in, then watching the tape when sellers start to hit it is the key, watching for big orders only once the flushing starts usually this trash assets wont be able to reclaim it unless some big soaker decides to jump in and soak all the sellers and shorts.
2,07 was line in the sand where big buyer came in, so once that is spotted you need to watch tape closely if sellers are pushing into that buyer, its likely that they will overrrun him , as thats what usually happens and when that goes, there is no more buyers left, only short covering that pops price up here and there.
Same pattern over and over again, the key on watching the tape is to find the big soaker or big hitter, and not watching every tick of price what is trading, but just observing until that large player is spotted, then shaping the plan around it.
Shorted initial rejection around 2,15 added 2,05 on break, covered half the rest still in the game.
2,07 was line in the sand where big buyer came in, so once that is spotted you need to watch tape closely if sellers are pushing into that buyer, its likely that they will overrrun him , as thats what usually happens and when that goes, there is no more buyers left, only short covering that pops price up here and there.
Same pattern over and over again, the key on watching the tape is to find the big soaker or big hitter, and not watching every tick of price what is trading, but just observing until that large player is spotted, then shaping the plan around it.
Shorted initial rejection around 2,15 added 2,05 on break, covered half the rest still in the game.
