[Yigal]

Hi everyone,

I know that many of you read the tape and have an experience in interpreting it, I would like to know your opinion on the following action. The thing is that to me it just doesn't make any sense.

[Soultrader]

It doenst make sense at the moment because you do not understand what to look for and how to use it. Tape reading is not easy. You will need to devote a few months observing and staring at it until you start to see information relevant to your trading. You might want to start out by looking at the tape only when price reaches a certain key level. Watch how it behaves when price reaches there and keep an eye on bigger contracts that come across tape.

[Yigal]

Originally Posted by Soultrader »

It doenst make sense at the moment because you do not understand what to look for and how to use it. Tape reading is not easy. You will need to devote a few months observing and staring at it until you start to see information relevant to your trading. You might want to start out by looking at the tape only when price reaches a certain key level. Watch how it behaves when price reaches there and keep an eye on bigger contracts that come across tape.

Thank you Soultrader for your answer, I have seen all of your tape videos, thanks again, very helpful!!! The thing is, I see large buying at the tops today and large selling at the bottoms it's in the attachments, THAT doesn’t make much sense to me, since today is all choppy and range bound, but again I am new to tape reading and that’s why I’d like to know your opinion on today’s action.

[Soultrader]

One thing that comes to mind is that you were not actually seeing selling but instead buying at the bottom. Those orders were basically limit orders. Did you see alot of contracts on the red without further price decline? Many times, longer timeframe traders will have orders set before hand.

[Yigal]

Originally Posted by Soultrader »

One thing that comes to mind is that you were not actually seeing selling but instead buying at the bottom. Those orders were basically limit orders. Did you see alot of contracts on the red without further price decline? Many times, longer timeframe traders will have orders set before hand.

Thanks, didn’t think of it in this way. Appreciate your help.

[trader273]

Just an FYI, a lot of people wont open Word or Excel files. It is best to save your pic as a jpeg or png file.

[Yigal]

Originally Posted by trader273 »

Just an FYI, a lot of people wont open Word or Excel files. It is best to save your pic as a jpeg or png file.

Thanks, next time will save and post in jpeg.

[keymoo]

Yes I won't open them for sure.