Disliked..footprints, never used them before, watched some 101 vids about them last night; be great to see what you look for within the print to time your entries. If i've understood correctly, there are patterns within footprints that help build an edge.Ignored
15640 was approximately the 50% retracement level for the opening move. So I look for a finished auction. I can clearly see finished auctions by seeing single prints on why side. In the above chart the single print is on the ask side and I need it to be small (less than 10).
Once I see this I then use a O-2-X setup that I learned from Mike Valtos of Oderflows. Basically its when a small single print is at a high or low (for me any horizontal line) and the market rejects the level and then retraces back to within 2 ticks of the level.
with NQ - the price moves so fast so I try to get in within 5 ticks of the high. I use a 8 tick stoploss if i get in within 2 ticks of the high and a 10 tick SL if 5. My target is always 44 ticks.
Rinse and repeat all day. MMED - Make Money Every Day.
Not sure if it will be useful to most traders. Most people don't like footprint charts, but it works for me.