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how do you quantify the 40k share volume at one price? I guess you would use the matrix window? |
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yes, 40k is watched in my matrix window (ES.D not ES).
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The one caveat I would add to what you said about the need to chop would be regarding run-away days. |
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yes, this is 'breakout mode' --- I won't look for this on days where I would expect a directional move to be likely. but this condition is the exception, not the rule.
Have noticed that often best to wait for volume to build about 30k contracts at one price --- then expect back & fill until it becomes 40k. I faded a move yesterday for 5 pts based on this tendency. Caveat is that once it builds to high 30k zone, even a 'fake' move can go quite a ways before reversing --- so I like playing this fade just maybe 1 time and then stop once it starts to close in on 40k. After 40k, I will look for an afternoon trending move.