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“Predicting Short Term Price Action Is A Myth”
Introduction Into Tape Reading
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Introduction Into Tape Reading
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What Is Tape Reading?
Tape reading is the ability to read order flow. Order flow includes the relationship with the bid and ask along with the time and sales. Recognizing what big hands are doing in real time to fulfill their agenda.
Tape reading is the ability to read order flow. Order flow includes the relationship with the bid and ask along with the time and sales. Recognizing what big hands are doing in real time to fulfill their agenda.
Where Did It Origiante?
Tape reading originated at the beginning of the exchanges. Whenever someone placed an order back then it would print out to the trading floor. Here you would have “Tape Readers” looking for big buy orders to follow.
Tape reading originated at the beginning of the exchanges. Whenever someone placed an order back then it would print out to the trading floor. Here you would have “Tape Readers” looking for big buy orders to follow.
How To Recognize a Hidden Seller
Here is an amazing example of a hidden seller. You have a “300” share seller at $26. But you can see thousands of shares and green orders going through at $26. But that “300” share seller is still there. Professional platforms (1/2)
Here is an amazing example of a hidden seller. You have a “300” share seller at $26. But you can see thousands of shares and green orders going through at $26. But that “300” share seller is still there. Professional platforms (1/2)
give you the option to hide your size. So for an example here he only showed he was selling 300 shares at $26 but then you had thousands of shares of buying going through. Unfazing the 300 shares. Meaning this player was actually continuously selling into those $26 buyers. (2/2)
How Do I Use This?
Once I find an area of heavy selling such as $26 in this example. I now know where a large player is sitting. Depending on the narrative of the stock they will sell just like they did at $26 to push us to lower prices to accumulate more.
Once I find an area of heavy selling such as $26 in this example. I now know where a large player is sitting. Depending on the narrative of the stock they will sell just like they did at $26 to push us to lower prices to accumulate more.
How Do I Use This?
Once they accumulate more they will then retest the $26 price. Once that seller at $26 gets taken out I will take my short term long. Anticipating that the original selling was to accumulate lower, once that $26 seller lifts he has fulfilled his agenda.
Once they accumulate more they will then retest the $26 price. Once that seller at $26 gets taken out I will take my short term long. Anticipating that the original selling was to accumulate lower, once that $26 seller lifts he has fulfilled his agenda.
