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Old 02-11-2007, 11:21 AM
FLX FLX is offline
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Cool Re: Tape reading substitute for forex, Need one more chart!

You need to follow the future chart/ currencies to get a head up of the coming event in the the forex pairs, this will give you the tape reading your looking for at market open (London, Toyko, NY) EST> 8:30am, 3:00am ETC. It is hard to read any other time of the day because the volume is to lite. Use the tape bid and ask indicator and the market delta on the Euro. It works well in trade station.
Also use these indicator on News event like the NON Farmer pay report ETC!!!!!!!!!!!!!!
The reason you use this indicators is because the bid and ask will show the true direction of the Market delta turning red and green. Volume pile up so fast that it is hard to determine the direction so you use the TAPE bid and ask indicator. One or three minute is the best setting, using charts any longer will slow your reaction time down and miss the move. Use this indicator at the pivot areas to determine a quick direction indicator. FLX Full time trader! ER2


Last edited by FLX; 02-11-2007 at 11:24 AM.
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