Another day with sellers failing to gain downside traction resulting in a massive squeeze with heavy aggressive buying piling on, powered by #Powell.
Smash, I have a question on a comment you made on your chart for this day, 11/30/22. How do you determine it was a passive buyer instead of seller when the selling was so much larger and red in your chart at 3950. The delta on that bar is negative. If it was a passive buyer how do we determine that by looking at that delta bar that compared to the other buying positive delta bars you point out higher in the distribution. Can you elaborate on what I am missing thinking it was selling and not a passive buyer. I show 5138/412 at 3950 in B period. Thank you!!
Footprint gave clear signals at 3943--buying imbalances, poor low, leaning against weekly support. Obvious trade in retrospect, but I had a short from E-period and didn't pivot long. Ironically, if I hadn't been in the short, the long from 3943 would have been an easy trade to jump into. I was biased due to current position.
Thanks for the re-caps Smash. Great learning material!
Today’s initial flush down to 3950 upon the JPow dovish remarks and the subsequent rip above was a thing of beauty. Basically a study in “first wave is the algo wave” theory. The true move and retest of 85-86 from above happened almost immediately afterward as you call out. Excellent work as always!
Thanks Smash. Great advice about staying off Twitter too on days like today. Really upset with myself over how I handled today's trades. I keep trying to get better, hopefully I'll figure this out soon.
What do you follow closer, VPOC/Vol Value or TPOC/Time Value?
I see thanks
Hi. Thanks for sharing! What’s MGI? Thanks!