DislikedHello Rick, thank you for sharing your setup. i have a question on it … on the same candle where you have at the bottom a double 0 setup that you fade we also have at the top of it another double 0 setup. why not to fade the double top setup and fade the double bottom. well from the candle direction we can see that you were correct…. You opposed the double bottom setup and the price moves up …. However the candle closed with a double 0 on the top….. The only logical explanation is that the strategy is only relevant for the same candle and you took...Ignored
Its relevant as a setup for both trades short & long on one candle or it can be used as a swing low / high setup.
So that would be about 4 tick short and a bigger 6-8 tick long.
We do however need some form of content to trade profitability therefore I would of been looking for a stong Complete Auction setup only as a Long. not as a Short. The content would therefore be based on a swing Low setup.
What the footprint chart doesn't show us is speed, those double 0 are normally executed instantaneously offering no chance to enter a trade till maybe 1 ticks later.
How's your speed?
Do you practice speed drills?
For me to be able to profit from these Complete Auction setups, I had to be able to see setup, hit my Mouse / Stream Deck pad and have it executed on the CME exchange in Chicago within 0.5 seconds. To achieve this, I practice 20 minute speed drills every single trading day before I trade live, and use the faster's trading platform that's linked to the quickest execution Futures broker I can get my hands on.
Whilst I'm not as fast as an HFT Algo from Citadel Securities, I just may be quicker than the average small- time trader which now becomes my prey.
Basically a bigger mug than myself.
Cheers
P.S.
Zego asked how I exit - yes by Data when it flips.
However sometimes a TP place several ticks ahead is just smarter.
Trading thin liquidity at the boundary of the charts
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