I may have to use video instead of screenshots because I'm trying to get pics of the DOM as price makes new highs but it's hard because it keeps changing so fast. A short video would be better because then people could explain in a specific way exactly what is happening to suggest that price is making a high and is going to reverse, or to suggest that price is going to keep going in a certain direction at different points in the video rather than having to look at images of a single point in time.
With this thread I am looking to answer the following. Time and Sales questions: When you see huge influxes of orders coming in on TaS, what does that imply? Does it matter if they are at the bid or ask? What sort of TaS activity, if any, implies the start of a trend? What sort of TaS activity, if any, implies price is going to keep going in the same direction? What sort of TaS activity, if any, implies price has made a swing high/low and is going to reverse? Is TaS activity significant anywhere or only at specific levels (such as prior S/R levels)? DOM questions: What sort of DOM activity, if any, implies the start of a trend? What sort of DOM activity, if any, implies price is going to keep going in the same direction? What sort of DOM activity, if any, implies price has made a swing high/low and is going to reverse? Is DOM activity significant anywhere or only at specific levels (such as prior S/R levels)?
Here is the ES making a triple top on a 10,000 volume chart. What clues does the DOM hold to suggest that price will go back down or will break through?
On the advice of a PM I have enabled a setting called "Auto Sum Bid/Ask" which shows the total order sitting at the bid and ask.
Your list is inappropriate. As a trader, you need to learn that trading is NOT the most active part of the market's operation. Trading is no higher than third highest activity. Try to grasp this. I watch the DOM and I pay particular attention to where "big money" is making mistakes. You cannot see what I see so far. Try to consider finding out what the greatest activity in markets is. Next try to figure out what the second biggest activity is. Most people never actually "see" the markets. So far, it has been pointed out to you that you are one of them. I know you "passed" on the first excellent advice you were given. Return to the rich part of this thread and accept and act on that advice, please. you have a chance to increase your trading "take" by a factor of ten as a first step. also google the word: WALL.
Limit your totals to five elements on each side. Next, use these continuing results to define trending. Also , learn to determine where the next turn price value will be occurring as told to you by the DOM. Soon you will have to learn about first and second derivatives as calculated by using a substitute for differential calculus.
You may like to read through the following thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=103293&perpage=6&pagenumber=1
Don't you 'retire' from ET? The total 5's on each side do not tell anything. What the heck does last paragraph mean?
I tried reading DOM and T&S for clues. Didn't succeed, changes too fast for me. DOM is the best tool to enter/adjust orders quickly though, so I always have it on the screen to manage trades.