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Re: Identifying Short Covering: Day Traders Perspective
G'day mate nice write up. After the events of last week I have been watching our local markets here closely to see what would happen as our major stocks took a tumble. I tried to anticipate when the short coverings would come. I have to use end of day data at the moment and basic market depth data which is not only confusing to me but also misleading. Once I have enough money and knowledge to open up a futures trading account I'll be able to use more up to date data!
Soul, do you think you could explain the working of the Volume Delta a little more? So far the only indicators I've tried to get to know are the P/C ratio, Tick, Trin, Volume, Price, and im trying to read about tape reading. Fib's are also a little alien to me atm but one step at a time i guess!
Cheers and good luck with your trading.
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