Following today's session, there isn't much to add, but the sellers were able to successfully break the daily trend of higher lows. I will continue to closely monitor the levels of 4183 and 4163.
Gotcha thanks! Is that what you'd use intraday for spotting a setup or reversal, or is there a different interval (either time or trade based) you tend to use most intraday for the footprint charts? Apologies if mentioned in previous blogs/reviews since I'm newer here.
I mainly use Range Per Bar, and I typically switch between 14/16/20 depending on the volatility. 20K-50K Trades Per Bar is used for a broader perspective.
I noticed each new footprint is not based on time (ex. every 5 minutes, 15 minutes, etc). What is it based on?
This one is 50K trades per bar.
Gotcha thanks! Is that what you'd use intraday for spotting a setup or reversal, or is there a different interval (either time or trade based) you tend to use most intraday for the footprint charts? Apologies if mentioned in previous blogs/reviews since I'm newer here.
I mainly use Range Per Bar, and I typically switch between 14/16/20 depending on the volatility. 20K-50K Trades Per Bar is used for a broader perspective.
Thank you! I'll keep that in mind as a starting point for when I start setting up my footprint charts for the first time very soon.
Is there a precise definition of a closing rally? (=M-period rally?)