Level 2 and Tape Signals

[Flint 2]

Lets have a step by step break down of the signals on level 2 or Tape 

that you noticed your trading sessions like:

Tape standing still at the up motion - time to get out

or 

A lot of red on the tape - time to get out of a long position

 

Your turn!

[Carlos M. 232]

This is interesting. 

I am not great at reading the tape but this i see often and it has helped me get out of trades or take profit. 

The flow of Order on Tape slows down, No Heavy Ask on Level 2 = TIme to Partial on my long or get completely out

Of course, there is more to it you also have to match it with that the chart is doing as well. 🙂

 

[Alastair 114]

Questions on Tape Reading ..... If reading the tape with level 2 is abt reading patterns right ? well why not read the patterns on a 15 sec chart ? My thoughts ? pls explain why not ......

I can understand u can see future orders on level 2 info while is tape is executed orders.

 

I strongly think we (BBT) should have dedicated training on how to read T&S/Level 2.  List out all the conditions, wht to look for,  how to focus eyes, and have recordings of T&S Level 2 that show each condition, it seems like abt 15+ setup/conditions tht I hear abt.  Any REAL T&S experts in the BBT group ? maybe Norm ?

Edited September 8, 2019 by Alastair Mowatt
update