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    Tape Reading

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    jadie ali
    The document discusses reading the tape, which refers to time and sales data, to identify trading opportunities for scalping strategies. It explains that the tape can show imbalances in supply and demand through indicators like block trades, order flow momentum, and the speed at which bids and offers are taken out. An example clip is provided of identifying a buying imbalance on a one-minute EURUSD chart by reading the tape.

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    Tape Reading

    Uploaded by

    jadie ali
    117 views5 pages
    The document discusses reading the tape, which refers to time and sales data, to identify trading opportunities for scalping strategies. It explains that the tape can show imbalances in supply and demand through indicators like block trades, order flow momentum, and the speed at which bids and offers are taken out. An example clip is provided of identifying a buying imbalance on a one-minute EURUSD chart by reading the tape.

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    The document discusses reading the tape, which refers to time and sales data, to identify trading opportunities for scalping strategies. It explains that the tape can show imbalances in supply and demand through indicators like block trades, order flow momentum, and the speed at which bids and offers are taken out. An example clip is provided of identifying a buying imbalance on a one-minute EURUSD chart by reading the tape.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    117 views5 pages

    Tape Reading

    Uploaded by

    jadie ali
    The document discusses reading the tape, which refers to time and sales data, to identify trading opportunities for scalping strategies. It explains that the tape can show imbalances in supply and demand through indicators like block trades, order flow momentum, and the speed at which bids and offers are taken out. An example clip is provided of identifying a buying imbalance on a one-minute EURUSD chart by reading the tape.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    You are on page 1of 5

    As many of you know, there are many day trading strategies out there.

    Some
    with robust risk management and some without. One day trading technique
    that many traders struggle to find solid risk management strategy is Scalping.
    Nonetheless this is not the case for day traders that understand the art of tape
    reading.
    6E futures: Supply IMBALANCE seen on the tape

    The tape is short for time and sales. Some will prefer to call it time of sale aka
    TS. Many platforms will not give time and sales information thus showing the
    power of this information or data feed. The TS window or indicator will
    basically relay level II data in real time.

    Level II data shows active buyers and sellers real time, the volume or contract
    size and the prices at which they are getting filled. One indicator that does this
    very well is the vvAggregatedTS for Ninja Trader 7. Refer to my previous post
    on ‘DELTA’. The 3 magic words are Price, Volume and Delta.

    Block Trades/Large Prints on the other hand help us identify order flow
    momentum. Many day traders tend to think that when a block order long is
    fired one should buy in the direction of the block trade. That cannot work as
    shown in the screenshot below
    Who takes out Who?

    Speed of the tape does also helps spot momentum. For example, If offers are
    being taken out quickly it means the buyers/bulls are really strong. If the bids
    are taken out quickly, means the bears are strong. This is all momentum and
    scalps can be made if the direction of the order flow.

    Here is a example of how I read the tape looking out for supply demand
    imbalances. It happens relatively fast and on one minute charts. Just watch
    this short amateur clip
    Buying Imbalance 6E EURUSD m1

    To download NT7 Reconstructed Tape Indicator [vvAggregatedTS] click the


    link here: https://jmp.sh/aLcCI4Y
    To download mt4 trailing stop EA. A must have for Time & Sale scalpers, click
    here: https://jmp.sh/dGd2XPP
    To join our public telegram group, click here: https://t.me/orderflowp

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