TPO count

[Trader_JG 10]

Reading Dalton's book he says a 16/25 TPO count is bullish, yet someone on here, as well as Alex Benjamin say the opposite. Just watched Alex's MP201 vid.

Which is the correct interpretation, or is there something I am missing when analyzing the count?

 

Jonathan

[TinGull 10]

When the TPOs are more plentiful underneath the POC, it's showing that there are more buyers at those prices because price is stopping and filling there. When there are more prices above the POC, it is showing that more people are selling off their shares/contracts above the POC, so sellers are in control. A TPO count like 16/25 would show that buyers are in control, buying more at the lower end of value because they feel that it is just that....undervalued.