http://newsletter.neoticker.com/2006/05/15/basic-tape-reading-the-importance-of-sub-minute-charts/?utm_source=rss&utm_medium=rss&utm_campaign=basic-tape-reading-the-importance-of-sub-minute-charts Tue, 25 Oct 2011 05:59:04 -0400 http://wordpress.org/?v=2.8.6 hourly 1 http://newsletter.neoticker.com/2006/05/15/basic-tape-reading-the-importance-of-sub-minute-charts/comment-page-1/#comment-12207 Matt Sharky Sat, 11 Jun 2011 22:26:52 +0000 http://newsletter.neoticker.com/?p=212#comment-12207 I like to use the Raw Data time & Sales. Watching it live can give you an idea of buying and selling action. But order size is relative. Seeing 300 share lots being traded could be the norm, so you must observe the action prior to price reaching support and resistance levels. Then once you get to critical price levels, notice the difference of size in shares being traded. So, if all of the sudden I'm seeing 2000 share lots being traded and price action is breaking through resistance. I can be pretty sure, that the breakout will follow through. However, like you said this is not fool proof, but it can increase probability that trades over a period of time will be successful. I like to use the Raw Data time & Sales. Watching it live can give you an idea of buying and selling action. But order size is relative. Seeing 300 share lots being traded could be the norm, so you must observe the action prior to price reaching support and resistance levels. Then once you get to critical price levels, notice the difference of size in shares being traded. So, if all of the sudden I’m seeing 2000 share lots being traded and price action is breaking through resistance. I can be pretty sure, that the breakout will follow through. However, like you said this is not fool proof, but it can increase probability that trades over a period of time will be successful.

]]> http://newsletter.neoticker.com/2006/05/15/basic-tape-reading-the-importance-of-sub-minute-charts/comment-page-1/#comment-12202 Jonathan Leon Sun, 20 Feb 2011 22:04:31 +0000 http://newsletter.neoticker.com/?p=212#comment-12202 Tape reading is very essential in reading supply and demand. I believe that most people get confused from the start not knowing what the tape is. Most look at the time and sales window for the answer. Learning to spot strong and weak spots in the market takes time and patience but is very doable. Over the years most people get caught up in useless m/a and brokerage churning indicators and never look to the supply and demand factors of the market. Currently my tape reading ability tells me that 88.90 in April 2011 CL Crude Oil contract is a very strong area. Over the next week we should bang off of this area a couple times and if accumulation is seen the market will test the 95.00 highs from this level. Happy Trades! Tape reading is very essential in reading supply and demand. I believe that most people get confused from the start not knowing what the tape is. Most look at the time and sales window for the answer. Learning to spot strong and weak spots in the market takes time and patience but is very doable. Over the years most people get caught up in useless m/a and brokerage churning indicators and never look to the supply and demand factors of the market. Currently my tape reading ability tells me that 88.90 in April 2011 CL Crude Oil contract is a very strong area. Over the next week we should bang off of this area a couple times and if accumulation is seen the market will test the 95.00 highs from this level. Happy Trades!

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