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| Status: Super Moderator Join Date: Aug 2006 Location: Tokyo Posts: 3,618 Thanks: 545
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Blog Entries: 4 | [Tape Reading Video] by Traders Laboratory Part 1 Part 2 Part 3 Charts created by Tradestation Prestend by Traders Laboratory
__________________ Last edited by Soultrader; 12-04-2007 at 05:45 AM. | ||
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![]() | Re: [Tape Reading Video] by Traders Laboratory | ||
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| Status: Super Moderator Join Date: Aug 2006 Location: Tokyo Posts: 3,618 Thanks: 545
Thanked 1,346 Times in 484 Posts
Blog Entries: 4 | Re: [Tape Reading Video] by Traders Laboratory
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![]() | Re: [Tape Reading Video] by Traders Laboratory Really enjoyed the video. I usually dont look at the tapes but I am thinking to learn and incorporate it into my trading. Thank much. | ||
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![]() | Re: [Tape Reading Video] by Traders Laboratory When watching your 3 videos I noticed you had various horizontal lines on the @ym chart. If you don't mind me asking what do these lines represent? I'm assuming the main ones were the value area levels but how about the others? Do you follow R, PH, Pvt, PL, & Support levels (floor pivot levels) as well? Thank you for your time & consideration. Sincerely, traderboy | ||
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| Status: Super Moderator Join Date: Aug 2006 Location: Tokyo Posts: 3,618 Thanks: 545
Thanked 1,346 Times in 484 Posts
Blog Entries: 4 | Re: [Tape Reading Video] by Traders Laboratory The lines I use are VAL, VAH, and floor trader pivots. The green lines are R1, R2, R3, S1, S2, S3... the pink/purple lines are the monthly pivots and the cyan lines are the weekly pivots. The red dotted lines are VAH and VAL. They are the same for all my videos. Hope this helps. Soultrader
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![]() | Re: [Tape Reading Video] by Traders Laboratory it's very helpful by watching your tape reading video. would you mind do more video on tape reading. and one question, can you use first 10-30 mins of tape reading to tell which direction is the market likely to go in that day. thank you. | ||
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| Status: Super Moderator Join Date: Aug 2006 Location: Tokyo Posts: 3,618 Thanks: 545
Thanked 1,346 Times in 484 Posts
Blog Entries: 4 | Re: [Tape Reading Video] by Traders Laboratory I'll try to make more tape reading videos. I'm just having difficulties recording live and trading at the same time... may need to upgrade my computer. Some tape readers may be able to tell the market direction within the first 10 minutes of tape reading. I can not... what I like to do though is at the open, I will focus on a closest line of pivot price opens at and read tape. If I see enough sellers or buyers at the pivot, I can determine the short term direction. This is usually my opening setup... but its a quick trade and I dont intend to stay in it for long. It usually takes me the first 60-90 minutes of trading to really figure out what the market might do in the afternoon. Of course the moment sentiment changes, my bias will change also. Its very hard to explain in words what I see... I'll try to make a video on it.
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