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  • #2,581
  • Feb 1, 2017 4:03am Feb 1, 2017 4:03am
Quoting rocky
{quote} YM 03-17 (987 Volume) 1_29_2017.jpg;2165925 {image}
Rocky, Thank you very much for looking at this for me, very kind of you. Your response makes perfect sense.

One question if I may regarding the 2 "zones" you highlighted:

The grey demand zone makes perfect sense.

The green zone however, whilst I can see it is an area that the market has "reacted" to multiple times and I think an area Damian calls "structure" how do you define that green zone? I have studied all your posts going back 5 years and I very rarely see you drawing that type of zone.

The zones I see you drawing are demand/supply, stop hunt and volume profile zones. The Green area zone looks like some sort of supply turned demand zone but has been hit so many times I assume it isn't a S/D zone strictly speaking. Just wondered what you call it.

Thanks again you are a gentleman and a scholar!
  • #2,582
  • Feb 1, 2017 5:27am Feb 1, 2017 5:27am
Quoting Harmonic1976
Hope I did this right, wasn't sure how to organize the bars - so organized them by 5min but can do tick size, range, etc. Lately I haven't cared much about "time" as much as volume traded at price. Let me know what you think/see here from the opening bell onward. The numbers are colored based on being 200, 300, and 400 x the bid/ask diagonal volume. The brighter the red/green the more that the bid/ask volume was different from each other. Thank you for taking time to help out!! {image}
From what I make of your footprint chart, it looks like there was a short trade Imbalance at around 08:49 followed by a substantial drop. This Imbalance took out the buy Imbalance at about 8:36am. Those buyers felt pain as their stops started to get hit. Now you can consider the short trade Imbalance a Supply Zone. Any retrace with the proper Bid/Offer Imbalance into that zone would be a good short. When you can locate traders that are in pain then you have found your edge.
  • #2,583
  • Feb 1, 2017 5:29am Feb 1, 2017 5:29am
Quoting dashfx1990
Rocky, did you find the "No BS Day Trading" course to be of any value?
I didn't take his 2 week course just the intermediate online course. I did find some value to his method.
  • #2,584
  • Feb 1, 2017 5:51am Feb 1, 2017 5:51am
Quoting anatman0000
{quote} Rocky, Thank you very much for looking at this for me, very kind of you. Your response makes perfect sense. One question if I may regarding the 2 "zones" you highlighted: The grey demand zone makes perfect sense. The green zone however, whilst I can see it is an area that the market has "reacted" to multiple times and I think an area Damian calls "structure" how do you define that green zone? I have studied all your posts going back 5 years and I very rarely see you drawing that type of zone. The zones I see you drawing are demand/supply,...
Good morning Anatman, the green zone is simply a supply zone turned Demand. This is something I've been doing for many many years. As i have progressed as I trader I've learned that It does not matter how many times a zone gets hit. If there is liquidity supporting that zone and the proper Bid/Offer at that zone then the zone is valid.

This is why professional traders use tools that would identify these opportunity at structure. A trader can not see trade Imbalances just by looking at a candle. They can only guess. This is why you see day traders taking 50 pip stops and not being able to recover or simply breaking even. This business is all about controlling your risk.
  • #2,585
  • Feb 1, 2017 6:26am Feb 1, 2017 6:26am
Quoting rocky
{quote} Good morning Anatman, the green zone is simply a supply zone turned Demand. This is something I've been doing for many many years. As i have progressed as I trader I've learned that It does not matter how many times a zone gets hit. If there is liquidity supporting that zone and the proper Bid/Offer at that zone then the zone is valid. This is why professional traders use tools that would identify these opportunity at structure. A trader can not see trade Imbalances just by looking at a candle. They can only guess. This is why you see day...
Brilliant, that makes great sense, thank you very much sir.
  • #2,586
  • Feb 1, 2017 9:48am Feb 1, 2017 9:48am
Attached Image (click to enlarge)
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  • #2,587
  • Feb 1, 2017 11:23am Feb 1, 2017 11:23am
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  • #2,588
  • Feb 1, 2017 12:08pm Feb 1, 2017 12:08pm
Quoting rocky
{quote} From what I make of your footprint chart, it looks like there was a short trade Imbalance at around 08:49 followed by a substantial drop. This Imbalance took out the buy Imbalance at about 8:36am. Those buyers felt pain as their stops started to get hit. Now you can consider the short trade Imbalance a Supply Zone. Any retrace with the proper Bid/Offer Imbalance into that zone would be a good short. When you can locate traders that are in pain then you have found your edge.
I see, so do you wait for price to "re-test" the new supply zone or do you short immediately when you see imbalance if you predetermined that area to be a supply/demand zone?

Also are your footprints volume based typically? If so, what volume do you use? It seems like there is a huge difference in the footprints depending on volume, range, or time. But I guess the concept still applies to all of them since volume at price is basically the same regardless of the footprint?
  • #2,589
  • Feb 1, 2017 12:10pm Feb 1, 2017 12:10pm
Quoting rocky
YM 03-17 (610 Volume) 2_1_20171.jpg;2167373 {image}
Wow, very impressive trading!
  • #2,590
  • Feb 1, 2017 1:28pm Feb 1, 2017 1:28pm
Quoting rocky
YM 03-17 (610 Volume) 2_1_20172.jpg;2167563 {image}

Attached Image (click to enlarge)
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  • #2,591
  • Feb 2, 2017 1:55am Feb 2, 2017 1:55am
Quoting rocky
{quote} YM 03-17 (610 Volume) 2_1_20174.jpg;2167728 {image}
Nice tick total.....Trade well
It's a dirty job but someone's gotta do it!
  • #2,592
  • Feb 2, 2017 2:16am Feb 2, 2017 2:16am
Harmonic, do you use the Pulling Stacking feature on the DOM within Sierra? I'm trying to get my head around how to read this, the documentation doesn't really help me to understand this. Any input appreciated.
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  • #2,593
  • Feb 2, 2017 3:22am Feb 2, 2017 3:22am
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  • #2,594
  • Feb 2, 2017 7:50am Feb 2, 2017 7:50am
Quoting rocky
{quote} YM 03-17 (610 Volume) 2_1_20174.jpg;2167728 {image}
What a day, nice job Rocky!
  • #2,595
  • Feb 2, 2017 8:04am Feb 2, 2017 8:04am
Quoting rocky
ES 03-17 ( OFA 6_5 ) 2_2_2017.jpg;2168783 {image}
Nice read, certainly makes sense. The OFA software is hands down easier on the eye than the Sierra setup. However it's hard to justify the cost, at the moment anyway. Hopefully I can learn to read it on the SC, if not I'll have to take the plunge!
After watching a few of the John Grady videos the next purchase is probably going to be Jigsaw.
  • #2,596
  • Feb 2, 2017 11:28am Feb 2, 2017 11:28am
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  • #2,597
  • Feb 2, 2017 12:50pm Feb 2, 2017 12:50pm
probably last trade
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2017-02-02 18-46-20.png Size: 100 KB
It's a dirty job but someone's gotta do it!
  • #2,598
  • Feb 2, 2017 12:55pm Feb 2, 2017 12:55pm
Quoting LaBoca
probably last trade {image} {image}
....Out
Trade well
Attached Image (click to enlarge)
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It's a dirty job but someone's gotta do it!
  • #2,599
  • Feb 2, 2017 1:15pm Feb 2, 2017 1:15pm
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  • #2,600
  • Feb 2, 2017 5:47pm Feb 2, 2017 5:47pm
Quoting LaBoca
{quote} ....Out Trade well {image}
Really nice read on the zones, well done.
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