[Soultrader]

Tape reading is one of the most useful skill to have in short term trading. Alot of the tape is noise and its important to understand how to filter out noise from vital information.

The key to reading tape is to practice. Practice makes perfect... and this is very true in tape reading.

I like to watch the tape as price reaches a critical pivot level. In this example, my trading plan was to watch for two pivots at the opening. The value high pivot at 12048 and the value low pivot at 12016.

As price opened and declined to test the value low pivot, I will time my entry using tape. Notice the tape at the critical pivot level. (see attachment)

We had a huge 80-lot come in with multiple 10+ lots at this area. For me the 80 lot was enough to confirm my entry point at 12016. (this column only shows lots of 10 or more)

Price then went on to lift. Tape reading requires fast eyes and fast hands. Master this skill and youre timing will be way ahead of most traders.