DTs Day Type Journal

[HowardCohodas]

Thanks Dash.

To be honest, I'm only using it to see if I can identify trending days so I don't attempt to fade extremes. I just have a 5 min chart up for each on one screen and I eyeballthem to see if they are all doing the same thing or all doing different things.

2 of the ETFs are not sectors - Semiconductors & Banks. I have those up because they are quite speculative and in theory may act as an early warning.

Remember - I'm just trying this out for now. I don't actually have a firm view on what I should be looking for. Some things seem to be common sense though...

Surprisingly common sense is rather uncommon.

 

[robster970]

Why don't you look at NQ and YM as well - generally when they go, all 3 go in tandem. If one of them is struggling, the non-confirmation tells me there might be weakness and a range day.

It's just one more thing to consider.

 

[amit1986]

As an extension of Rob's comment, also try out stocks :-D...more variety and you could use your tape reading skills on them as well!

 

[temporarilylight]

''large bids not being pulled'...long'

how does this show itself on the screen? Can you elaborate at all, or can it really not be dumbed down any more for a knucklehead like myself? The DOM has always just been a maze of flashing numbers to me.

 

[DionysusToast]

TL

Let's consider the following:

1298.50 500
1298.25 2200
1298.00 1830
1297.75 2000
1297.50 3400

This would be pretty normal bid size for the ES in the day session (with the exception of just prior to the news).

When price drops to 1928.25 - you have to see what to that 2200 happens - which will be one of the following usually:

1 - The 2,200 will reduce rapidly but not many sell orders are coming through. This means orders are being pulled.
2 - The 2,200 will reduce but a lot of orders are coming through. This means it's genuine size and means that someone really wants to buy there.
3 - The 2,200 will reduce, lots of orders are coming through and the bid increases/remains the same as orders hit it. This means someone is buying there but doesn't want to tip their hand.

 

[DionysusToast]

For various reasons, I have to end this thread here.

I do sincerely apologise to those that were interested in where this was heading.