Blog

Written by Published in Blog

Buying known support is a standard trading practice.  Sometimes support holds, sometimes it's breached.

 

By using ...sceeto a trader has real-time information on how to know whether a trade to buy known support is likely to hold or not.


Also, once support is bought, ...sceeto provides traders with insights into whether the market will continue higher.


Here is an explicit walk-through of the 21st century tape reading inferences of how we, and other ...sceeto traders, knew to buy and then hold, the 1832's.

 

IMG 18022014 133506

 

We understood that support was at 1832, and that other traders knew that support would be at 1832 as it was published in the Follow The Bots, "Daily morning Briefing".

 

"Currently the key support level is prior resistance at 1828; with the globex holiday low at 1832 acting as minor support."

 

 By monitoring 'the tape' at and around 1832 via ...sceeto, we noticed the following telltale signs:

 

1). Retail MacDaddy tucked below Institutional MacDaddy, and hence retail was more 'bearish' than insititutional.   As retail traders tend to be wrong at the wrong place at the wrong time, we took this as a sign that support at 1832 would hold.

 

 2). WIND also strongly revved upwards at the 1832 low.  This inferred that the equity trading bots had ceased selling.

 

3). Just after the low was put in, ...sceeto's Order flow Monitor algorithm sufaced [EQ-HFT-REV] which indicated that the equity trading bots had quickly gone from selling to buying.

 

4). After the low was put in, traders had tangible information that the move up would continue as MacDadddy showed not only steady buying, but also posted a series of Higher Highs.

 

Read the tape & take advantage of the bots by joining us on Follow the Bots & at ...sceeto

 

 

sceeto banner

Written by Published in Blog
http://followthebots.com/