Extracted Thread (per thread starter's request)

Thanks Rocky and TraderinSD, I agree on your thoughts.

I think there is competition at the higher levels, but also solidarity. Probably everybody wants to be the best, but at the same time, everybody wants to keep their privileges (and they have a lot to lose if they start a war against each other).
So in the end, I guess some of them sold EUR today, someone else bought, someone won, someone lost; but in the end, if Italy or Spain are going bankrupt, and one of them knows in advance (I have no doubt), I'm sure he'll share the news with his competitors.

To "hide their hands" they have some workarounds: option market is one of them, and the diligent trader should have a look at the options volume; as individuals we already have a lot to do when analyzing charts, and I confess I never looked into this, even if I know it can be a factor.

I want to show you this interesting thing that confirms part of what I was stating in my previous post.
Look at these two order books. They're both EUR futures; they show bid and ask levels and quantities. I only have the closest 5 levels (if you want more you have to pay).
The first order book is taken exactly 8 min 50 sec from US GDP data release today; normal trading activity: bid/ask spread is 1 tick, and to force price in one direction you have to either: buy 635 contracts, or sell 891 contracts at market.
Now look at the second order book, taken exactly 5 seconds before US GDP release. Smart money suddenly deleted a lot of buy/sell limit orders, and they're ready to mark price up or down with a small effort. Now you just have to buy 77 contracts or sell 47 in order to move price by 5 ticks.
This is usually done on each data release, and it's also the reason why stop losses are often hit in both directions just after news.

Interesting info you have there Pecas..Interesting how technology has allowed the retail trader more opportunity to look inside the SM to some degree..No, its not a full picture but a far cry from when I started back in 99'.

Options are interesting. Jon Najarian ( Dr J ) is a big options guy. He developed a program that took option data from all the exchanges, their option flow. His idea was that big option players will not put all their contracts on one exchange. They spread it around as not to plant a large foot print. If you can see this order flow in real time of puts/calls on a given instrument, that large picture, you may be able to act accordingly.. At least thats the idea. I know there is a lot more to this but an interesting idea never the less.

TSD

Thanks Rocky

Glad to hear you where able to pass the humor along

TSD

Rocky,

Could you kindly post a few more NQ trades with notes.

With thanks,

Canadian Futures:

Here is the daily chart from yesterday and the 240 min. from earlier today. The favorable GDP release this morning at 8:30 am helped propel the Cad upward gaining good ground towards this potential setup.

Update on Silver:

Attached are charts from yesterday and today.

GBP futures is inside an area of interest; daily supply zone with a trendline cluster and FIB extensions all the way. I'm trying to spot VSA patterns for an entry point right now.
Although the zones I drew might seem too large, they're right on a daily chart, don't forget the shot is H4 chart.

Down to M15 chart: price was rejected by the area, and now I'm trying to spot a no demand pattern.

The problems are that:
-volume is low at the moment
-in 50 minutes there is an important data release on GBP (manufacturing PMI)
I would wait after the release to operate safely, but on the other hand I might see a no demand pattern before the release, and miss the train.

Rocky, if/when you have time, please comment on what you would do, although I know you don't trade at this time (it's 3:43 AM EST)

Hi, everybody! I was out of the thread for a while, it is great that the thread is doing good- thanks to Rocky!

Looks like I missed the train on GBP.
I didn't see any "no demand" pattern till now in my M15 chart. If I was looking at a M5 chart I might have seen a couple; this is one of the "obscure" points for me.
I'm trying to find a rule; for example, if zone is daily, look for entry at M60, if zone is H4, look at M15, and so on; so far I failed to find a rule for this.
I will still make this trade, if price retraces enough and shows "no demand", but with NFP due in 2h40m, time is limited.

Thx Rocky, illuminating answer.

As I posted this trade I got stopped out for a fast plus $100.

That's how you scalp...

Thank you, really appreciate it.

No Problem 4xfactor. The best time to trade the NQ is between 9:30 am to 11 est....2 to 3:30pm EST.
If I have time Monday morning I'll trade NQ "Live, In Real Time". Because of the fast pace of this instrument
I'll write my chart Analysis after my trade is complete. But I'll still show the trade as it happens, Rocky...