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  • #2,621
  • Feb 7, 2017 4:32am Feb 7, 2017 4:32am
Quoting rocky
{quote} Anatman, The supply zone on the OFA chart was solely based on what I saw in the structure on the 233 tick chart. When PA enters my area of Interest It's then that I flip over to the Jigsaw tools/OFA charts for possible entries.
Fantastic, thanks so much sir.

Couple of questions if I may please Rocky when you get a moment:

a) You said earlier "Also, make sure there's strong (Offer) Liquidity in the .786 fib zone" are you referring to the jigsaw DOM limit orders and looking for what Peter Davies refers to as "Thicker liquidity at support/resistance areas" ie thicker "stacked" limit offers in that area on the DOM relative to surrounding areas. I assume you expand your DOM levels to go as high up/low down as possible?

b) Quick question regarding your setup. I know from previous posts you have 3 x 27" monitors I was wondering if you have up say for ES for example one chart for longer term (eg 240/720 min etc) and a separate one for shorter term (eg Tick/Volume) or whether you do both analysis on one chart. I know everyone is different but was just wondering out of curiosity how you did it - all on one chart or split your longer term/shorter term onto separate charts of the same instrument.

Thanks you very much!!!!
  • #2,622
  • Feb 8, 2017 9:58am Feb 8, 2017 9:58am
Yesterday I was not home to trade. I did a summary of the day's action and my analysis for the following day.


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  • #2,623
  • Feb 8, 2017 9:59am Feb 8, 2017 9:59am
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  • #2,624
  • Feb 8, 2017 4:48pm Feb 8, 2017 4:48pm
Dollar Index Structure. I need to use this as leading indicator for GC/6E trades since there seems to be a high correlation.
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  • #2,625
  • Feb 9, 2017 9:19am Feb 9, 2017 9:19am
Harmonic, nice structure on the above chart. No trading for me until I return home later today!

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  • #2,626
  • Feb 9, 2017 9:43am Feb 9, 2017 9:43am
Thanks Rocky.

This is how the DX has played out so far. It looks like the structure was spot on.

Now if only I can get to being consistently profitable. I've gotten my face ripped off this week, thinking that I was reading something in the DOM/Time and sales/OFA charts that weren't there.

How long did you struggle before you became consistently profitable? What did you do different to change that?
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  • #2,627
  • Feb 9, 2017 9:51am Feb 9, 2017 9:51am
Quoting Harmonic1976
Thanks Rocky. This is how the DX has played out so far. It looks like the structure was spot on. Now if only I can get to being consistently profitable. I've gotten my face ripped off this week, thinking that I was reading something in the DOM/Time and sales/OFA charts that weren't there. How long did you struggle before you became consistently profitable? What did you do different to change that? {image}
Harmonic, I'm about to leave for the day. I'll catch up with you later.
  • #2,628
  • Feb 9, 2017 6:38pm Feb 9, 2017 6:38pm
Rocky, I just experienced and traded my first real "imbalance" trade. It felt awesome and painless! I slowly trailed the trade one the way down, giving it room to breath. Exited when I saw an imbalance that would favor the bulls. 2 tick drawdown. +20 pts.

I actually tried to add a contract but the iceberg wasn't letting it fill, guess I should have hit the bid but it's ok.

Wow, thank you for what you do here, it helps the not so consistent trader with the small account. I'm looking forward to being a pro like you one day. I still would like to hear about your struggle and how you got past it if you wouldn't mind sharing.
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  • #2,629
  • Feb 9, 2017 7:20pm Feb 9, 2017 7:20pm
Wow, just experienced another one, had levels marked this time of "areas of interest" and saw an iceberg and price couldn't get past the level, so I shorted it with 2 contracts. Couldn't get my limit order filled so hit the bid. (4 tick total drawdown) Another +30 pts
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  • #2,630
  • Feb 10, 2017 3:35am Feb 10, 2017 3:35am
Quoting Harmonic1976
Rocky, I just experienced and traded my first real "imbalance" trade. It felt awesome and painless! I slowly trailed the trade one the way down, giving it room to breath. Exited when I saw an imbalance that would favor the bulls. 2 tick drawdown. +20 pts. I actually tried to add a contract but the iceberg wasn't letting it fill, guess I should have hit the bid but it's ok. Wow, thank you for what you do here, it helps the not so consistent trader with the small account. I'm looking forward to being a pro like you one day. I still would like to hear...
Well done Harmonic. I'm not sure where the Iceberg is. Maybe you can explain on the chart or i'm missing something

The green and red dot's are they Imbalances?

Is this part of Sierra? Or third party add-on ?

trade well
It's a dirty job but someone's gotta do it!
  • #2,631
  • Edited 3:23pm Feb 10, 2017 3:07pm | Edited 3:23pm
Quoting LaBoca
{quote} Well done Harmonic. I'm not sure where the Iceberg is. Maybe you can explain on the chart or i'm missing something The green and red dot's are they Imbalances? Is this part of Sierra? Or third party add-on ? trade well
You have to watch icebergs happen in real time by watching price, DOM, T&S. The red and green dot show when a certain volume at that level has been exceeded, I have it set to be 500% more for either the bid or ask.

I think there is a bug though because it doesn't calculate if the bid or ask is 0. So I'll have to write sierra charts.

What I'm starting to see is that you have to 1. Be able to identify an iceberg. and 2. It has to happen in an area of interest (i.e. continuation or reversal at a particular level/zone). In the first example, it was in an area where there was sell imbalance (from what I've learned from Rocky here) and so I took the short with a tight stop right above the sell imbalance.
  • #2,632
  • Feb 10, 2017 5:24pm Feb 10, 2017 5:24pm
What are you actually looking for an the DOM and T&S?

Are you using standard ones, or third party software?
  • #2,633
  • Feb 10, 2017 8:53pm Feb 10, 2017 8:53pm
Quoting Forexgineer
What are you actually looking for an the DOM and T&S? Are you using standard ones, or third party software?
Looking at the first chart I posted, I expected a reversal (south) based on the seller imbalance. So what I saw was HEAVY volume on the ASK (meaning aggressive buyers) yet price didn't even move up 1 tick, 108 contracts traded on the ask, then it jumped up 2 ticks and right back down. An "iceberg" seller, someone with lots of capital was absorbing all of the buying and once there are no buyers left, price has no choice but to fall. You really know you're at an iceberg level if you put a limit order at that level or below and it doesn't get filled, that's what happened.

I tried to even add a second contract and didn't get the fill. I should have sold at the bid at that point or market to get the second contract because it was clear absorbsion in an imbalanced area.

On the Time/Sales, you want something that can combine orders if they are the same time or within a certain time frame sort of thing. That way you can see the true amount of contacts going through in a large amount. So I keep one T&S that shows the actual T&S and one T&S that combines the similar orders. If I see aggressive buying (like the 108 ASK fills) and say 100 contracts hit at once and price doesn't move, that is a sign of iceberg.

So either the iceberg intends to move price up drastically from there or down. That's why it is important to have an area defined where you expect something to happen, in that case, I expected price to go down, saw the iceberg in that area, and went short with a stop above the imbalance. If I was wrong, it was 8 ticks loss. Price only went 2 ticks against me. I then slowly trailed candles until I saw sellers pushing down heavy and then an aggressive buy and got out. Price turned around right then and there.

Its very important to note that you REALLY have to have an area of expectation for this to occur because it can occur anywhere and somethings it is just accumulation to move in the current direction, but if you have a reason for price to turn around at a level - say at a supply area that you drew or a fib level or whatever, then that's where you look for the iceberg. The reason I got my face ripped off this week was that I traded a "reversal" on every iceberg and this is not the right idea. They could be accumulating for a move in either direction when it's out in space.

Does that make sense? Rocky correct me if I'm wrong with any of this. Just my observations so far from what Rocky teaches and what I see in the market.
  • #2,634
  • Feb 11, 2017 3:36am Feb 11, 2017 3:36am
Quoting Harmonic1976
{quote} Looking at the first chart I posted, I expected a reversal (south) based on the seller imbalance. So what I saw was HEAVY volume on the ASK (meaning aggressive buyers) yet price didn't even move up 1 tick, 108 contracts traded on the ask, then it jumped up 2 ticks and right back down. An "iceberg" seller, someone with lots of capital was absorbing all of the buying and once there are no buyers left, price has no choice but to fall. You really know you're at an iceberg level if you put a limit order at that level or below and it doesn't get...

Thx for the explanation Harmonic. This 'Iceberg' thingy is way above my pay limit. But one that I will lookup.

Regarding your footprint chart with the green and red dot's - Is this third party ?

The reason that I ask is that I also use footprint when I am looking for added confluence but not been able to flag up percentage imbalances on the bid and ask.


trade well
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It's a dirty job but someone's gotta do it!
  • #2,635
  • Feb 11, 2017 9:44am Feb 11, 2017 9:44am
Thanks for the response. I'll try market replay and so if I notice it. I think some of my issue is trying to spot it while at my day job which is pretty demanding. So even if I have predefined areas of interest, I still may miss it.
  • #2,636
  • Feb 12, 2017 12:57pm Feb 12, 2017 12:57pm
Ok I'm a noob with footprint charts but had a couple of questions, hopefully can get a few opinions here.

Basically just asking if these are general premises on how to use them? Looks like price often responds to the highest volume node and also big volume blocks however I'm not sure if that's a viable strategy using them for entries. I have a couple of charts:

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Also in this chart above, price goes on to close beneath the large sell block. The next bar's highest volume node (537x323) is also underneath this block, so would you short here and put stop above the large volume block?

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And in this chart above, just more reactions around the very highest volume node in each bar.

I guess what I'm asking is how much weight do these have when considering them as sole analysis and also when coupled with other analysis?

Any opinions / tips greatly appreciated.

Edit - not sure why my images aren't automatically showing up.
  • #2,637
  • Feb 12, 2017 2:36pm Feb 12, 2017 2:36pm
Quoting Harmonic1976
{quote} Looking at the first chart I posted, I expected a reversal (south) based on the seller imbalance. So what I saw was HEAVY volume on the ASK (meaning aggressive buyers) yet price didn't even move up 1 tick, 108 contracts traded on the ask, then it jumped up 2 ticks and right back down. An "iceberg" seller, someone with lots of capital was absorbing all of the buying and once there are no buyers left, price has no choice but to fall. You really know you're at an iceberg level if you put a limit order at that level or below and it doesn't get...
Harmonic, good analysis and reasoning. Now I'm not going to go into detail into your post since your pretty much on target with your reasoning. I've been dealing with some difficult family issues the last few days which has taken up a lot of my time. However, just to add that it is very important to have the proper market structure with a clear area of interest mapped out on your chart. Once PA enters that area it is then that I look for any Bid/Offer Imbalance. Regarding the Reconstructive Tape (T&S), I have 3 tapes set up with different settings for the ES. The first I show 30 contracts or above with blocks of 100 or more. The 2nd I show contracts of 100 or more with block orders of 250 or more. The 3rd I show orders of 250 or more with large block orders of 500 plus.I canput this all on 1 recon tape but it would not give me a visual picture of the flow of the market. When I have PA enter my area of interest with iceberg orders hitting the Offer and then I see and hear an alert that says "500 block bid" followed by other block orders hitting the bid then it's pretty safe to say that the larger firms will be shorting the market. I just trail their coat-tail. This is how I'm able to have such a low risk of 3 to 12 ticks. When you're able to follow the large institutional Bids/Offers then trading becomes much easier
  • #2,638
  • Feb 12, 2017 2:56pm Feb 12, 2017 2:56pm
Quoting jmezz
Ok I'm a noob with footprint charts but had a couple of questions, hopefully can get a few opinions here. Basically just asking if these are general premises on how to use them? Looks like price often responds to the highest volume node and also big volume blocks however I'm not sure if that's a viable strategy using them for entries. I have a couple of charts: Screenshot1.png;2184260 Also in this chart above, price goes on to close beneath the large sell block. The next bar's highest volume node (537x323) is also underneath this block, so would...
Hi Jmezz, a perfect example of how I use the OFA footprint charts is I look for a trade Imbalance with momentum with a series of blue or pink dots. This can signal strong support/resistance when PA returns. If however we see strong buying Imbalance then retracing below this area with a short trade Imbalance then we have a retail flush.

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  • #2,639
  • Feb 12, 2017 8:53pm Feb 12, 2017 8:53pm
Attached Image (click to enlarge)
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Correct time, 9:51 pm. EST...
  • #2,640
  • Feb 13, 2017 11:32am Feb 13, 2017 11:32am
Quoting Harmonic1976
Rocky, I just experienced and traded my first real "imbalance" trade. It felt awesome and painless! I slowly trailed the trade one the way down, giving it room to breath. Exited when I saw an imbalance that would favor the bulls. 2 tick drawdown. +20 pts. I actually tried to add a contract but the iceberg wasn't letting it fill, guess I should have hit the bid but it's ok. Wow, thank you for what you do here, it helps the not so consistent trader with the small account. I'm looking forward to being a pro like you one day. I still would like to hear...
Harmonic could y share your chartbook ?
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