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GoCharting
@gocharting
World's first multi-asset Orderflow charting and trading platform on the web App: https://t.co/gWXMVjdmX2 Official Telegram: https://t.co/rlID56p7lo

Nov 10, 2022, 6 tweets

1/n
Let's start with the definition of COT High/Low and how it is used in Daytrading with Orderflow

COT is the abbreviation for Commitment Of Traders. There are two COTs:
COT High
COT Low

🧵 #daytading #gocharting #orderflow

2/n
COT High is cumulative bid/ask Delta starting from the moment when the price makes new high or repeats previous one.

COT Low is cumulative bid/ask Delta starting from the moment when the price makes new low or repeats previous one.

COT helps to see buy/sell balance after new price level has been reached. In other words, it helps us identify TRAPPED buyers and sellers in the market

4/n
We can consider new high as a market test whereas COT will be reaction for it. If new higher price is rejected by the market, we will see negative COT High price falling.

5/n
If the price stays at highs and COT High is negative and is growing, then this means strong support by buy limit orders.

We will add some examples today with chart to explain this better

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