Order Flow + Trading levels for 11.18.2022, Reports & More!
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
By John Thorpe, Senior Broker
When looking at a level II Depth of Market D.O.M. display we see the bids and offers 10 deep on either side of the market. This used to be tradeable information until the Algorithms started to become more prevalent around 2008-9 and created a less transparent, meaningful order book. Orders or rather, Bids and Offers would be cancelled and replaced making it difficult to see where the aggression was playing out giving the trader a clear as mud picture of price direction. Footprints reveal Points of Control P.O.C. ( highest volume price levels within the time frame bar) and can provide an area of decision making separate or in conjunction with S & R levels, Fib levels or similar areas of probability. Footprint charts, when mastered can reveal order book imbalances , Buy or Sell imbalances and give you, the trader the ability to identify your side of the market as you always want to buy with more aggressive bidders and sell with more aggressive offers.
- Volume Footprint
- Bid/Ask Footprint
- Delta Footprint
Using Footprint charts may aid in trade management.
Cannon offers several trading platforms that offer unique insight into order flow, footprints, market profile and MORE!
Demos are available for the platforms below:
and a few others.
A Cannon broker will be able to assist, provide feedback and help you evaluate.
Plan your trade and trade your plan.
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Futures Trading Levels
Economic Reports, Source:¬†
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