Ok folks, here's the first example of what I've found. The video has no audio, so you'll have to read this along with the video so you get an idea. I don't have a mic just yet. I'll get one next week. But here's the gist of it.
From my observation, I've found that the bid and ask matrix provide lots of info particularly if the price will go lower or higher from it's current level, especially in determining breakouts.
If you see the video, 649 6/8 (this is Wheat commodity in case you're wondering) is at
VWAP. From there, the prices move down, so we're watching the market going down and see how it does it before it happens. When the current stays red (the right panel with price and volume columns), there is still buyers support that price. When that same price turns to green, support is about to give, buyers have either abandoned that order or the sellers have stepped down to absorb that price level. Usually expect the price to move down. 648 6/8 was day's low (support), when it turned green, it was ready to go down. Keep watching as I annotate the price levels on matrix and T&S on the way down.
The second part is watching that same level being taken out with the vol on T&S matching the orders shown at that price level on the matrix. This is to verify that the orders were NOT being canceled but were taken out by a sell order (this is to determine if the buyer is fooling by showing large orders only to pull them, T&S helps filter that).
This is the first example and first segment of my observation. Any comments/opinions welcome (including bad video taping... pls be gentle... I'm a virgin... with presenting with the vid cam).
http://www.traderslaboratory.com/for...1&d=1185822576