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facc
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I will have a look there, thanks.
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I cannot attach a chart , since my chart saves it as something called ch. But what i am talking about is imbalance. For example after unemployment report came out today around 08.30 est price went up 10 points and there was around 38000 lots traded at the bid and 11000 at the ask. Or we have a lot of buyers buying at the bid or there is clearly something i am missing here.
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I trade of the 5 min chart and I don’t scalp I normally try to go for 10 to 20 points on the fesx and on a trend day I will try to hold my position until I think the move is overdone or before a news event comes out. I also don’t use level 2 but just time and sales. And the bid vs ask I mentioned are the real volumes being traded so those are transactions. I do see value in volume on daily chart. But on a 5 min chart I sometimes see thousands of lots being traded while price goes nowhere for minutes and then it moves on less volume, and it doesn’t always move in the same direction as the thousands of lots traded minutes before.
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I trade the euro stoxx 50 and I am amazed that price doesn’t move if there is a big imbalance between bid vs ask volume, on several occasions this week I saw bid vs ask ratio of more than 5:1 or 1:5 and price went nowhere not even a single point. Am I missing something here? I do find the speed of the tape very helpful but it seems that it doesn’t always matter how many contracts are being traded.