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Head2k

Tick Chart Patterns

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I am a newbie who just recently got out from the Holy Grail Quest phase and I decided to start tape reading. But instead of using T&S I decided to watch 1 tick chart with volume. I don't know if some of you actually do it too, but anyway, I have a question (I guess a noob one).

 

Could anyone give me a hint what the attached pattern means? Apparently it is a big order split into several sequences. Each sequence is made of 8 steps.

 

9 contracts @ 1875.00

4 contracts @ 1875.00

2 contracts @ 1875.00

1 contract @ 1875.25

4 contracts @ 1875.25

2 contracts @ 1875.25

1 contract @ 1875.00

1 contract @ 1875.00

 

What is buying and what selling? What is the interpretation of such a pattern?

 

And I am interested if anybody else reads the tape this way. And if there is someone out there, what patterns is he/she looking for.

TickPattern01.thumb.jpg.0a74ef37568c8879ec5de41f322723fe.jpg

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The Article 'Reading the Music of the Market' by JC may help you to use TICKS differently

http://www.smartmoney.com/options/index.cfm?story=sfo-music

(click on the print button to view without the clutter)

 

I use Tick chart in a similar manner JC explains with candle body and tail size relationships while crossing the Tick levels

Tape mostly as order flow @ 'change or continuation' zones of S&R areas & trendlines on price chart

 

Hope it Helps

Minoo

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The Article 'Reading the Music of the Market' by JC may help you to use TICKS differently

http://www.smartmoney.com/options/index.cfm?story=sfo-music

(click on the print button to view without the clutter)

 

I use Tick chart in a similar manner JC explains with candle body and tail size relationships while crossing the Tick levels

Tape mostly as order flow @ 'change or continuation' zones of S&R areas & trendlines on price chart

 

Hope it Helps

Minoo

Not exactly what I was talking about but thanks anyway. I didnt post NYSE TICK chart but 1 tick chart where every point represents one tick in Nasdaq 100 index futures. The pattern shows some kind of big institutional order, automaticaly sequenced so the size is not obvious. And I was asking how to interpret this order. I noticed a lot of similar sequences, but I find very hard to understand them (perhaps thats their purpose :) ). So I hoped for somebody more experienced.

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Mr_black,

 

Interesting set up. Looks like Ninjatrader, yes. How do you get the graphical representation of the DOM on to the chart? That looks much easier to view than trying to eyeball the columns themselves.

 

Brit

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Those two post by Tams are probably the most helpful "tick reading" posts i've ever come across. No one has ever quantified the "how" or "what it means" before.

 

Kudos to you sir!!!

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Those two post by Tams are probably the most helpful "tick reading" posts i've ever come across. No one has ever quantified the "how" or "what it means" before.

 

Kudos to you sir!!!

 

 

credit goes to Jack Hershey.

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Those two post by Tams are probably the most helpful "tick reading" posts i've ever come across. No one has ever quantified the "how" or "what it means" before.

 

Kudos to you sir!!!

 

 

Hope nobody really gets sucked in by these Jack Hershey-followers!

 

 

Guys, it's really boring how you try to blind people:

 

- One guy ("MasterTrader") posts something that was posted a hundred times elsewhere

- The other guy comes along and applauds on the genius behind this

- repeat all over

 

In case someone is interested you can find the exact same postings from quite a time before:

 

If it were really that easy (2-pair working):

- The pattern that is proposed in the 2-pair thinking is so simple that it could be coded and exploited easily by any programmer knowing how to interface to a trading API and be used to make extreme amounts of money if it worked.

- Just take the time and look at some high-speed feed at the tick level (which is very instructive for other reasons): Nothing like the famous "2-pair" thing can be found there.

 

 

The question and idea behind this thread is good.

Edited by Soultrader
redirection links removed. phrasing revised.

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credit goes to Jack Hershey.

 

FYI.

 

The Stretch / Squeeze portion of the 'hand drawn' 2 - pair shift in dominance is backwards for current market conditions - specifically where the drawing says, "Stretch - Neutral - Squeeze". The sketch (as drawn) represents the market when cash leads (See Premium) the futures, rather than, futures leading the cash (as is the current state of affairs). The rest of the drawing remains accurate.

 

HTH.

 

- Spydertrader

Edited by Spydertrader
clarity

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Not really criticizing any individual, but if you can understand the action of a DOM with those two pictures, you could be a genius.

 

Considering the drawings (and the topic of the thread) represent what to look for on a Tic chart (or more specifically, the One Tic Range [OTR] chart), and not the DOM (aka Price Ladder), I doubt a genius level IQ is required.

 

Attached, please find an OTR (Friday [EOD] 8-28-2009) from my display (Trade Navigator). The alternating Yellow and White sections represent a five minute bar.

 

HTH.

 

- Spydertrader

otr.jpg.8fb4093440c9ebb083dcc59317be2e64.jpg

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Considering the drawings (and the topic of the thread) represent what to look for on a Tic chart (or more specifically, the One Tic Range [OTR] chart), and not the DOM (aka Price Ladder), I doubt a genius level IQ is required.

 

Attached, please find an OTR (Friday [EOD] 8-28-2009) from my display (Trade Navigator). The alternating Yellow and White sections represent a five minute bar.

 

HTH.

 

- Spydertrader

Doesn't that say DOM? meaning this is a (tick) chart representation of DOM? Which is the whole purpose of this thread.

 

attachment.php?attachmentid=13151&stc=1&d=1251768245

DOM2009-08-31_212252.gif.44a26193727063ecbc797febe4d3e0d1.gif

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attachment.php?attachmentid=13155&stc=1&d=1251769827

 

 

I apologize in advance for not knowing the authors of these 2 illustrations.

Please post their credit if you know them.

2pair_explanation.jpg.ab69b09abd380d68c9b69f50b901beb6.jpg

Edited by Tams

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Doesn't that say DOM? meaning this is a (tick) chart representation of DOM? Which is the whole purpose of this thread.

 

DOM, as in DOMINANT (in contrast to NON-Dominant), and not, DOM as in Depth Of Market. An easy mistake to make considering the acronyms are the same.

 

HTH.

 

- Spydertrader

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Head2k,

 

Youre on the right track with tape reading. people say its hard to get or its a load of crap. Im not tell you what i look for cause its my edge in the market. One nugget that i will leave you with that i found very useful during my tape reading adventure. look at a time period whether it be the first or the last hour. look at patterns in your given time frame and dissect them. Youre on your way grasshopper and goodluck.

 

strtedat22

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