Thread by @abetrade

A little bit about orderflow and footprint. I'm still getting an overwhelming amount of messages and screenshots from people sending me bid/ask footprints with delta asking if this is absorption or breakout and so on. 1/

As much as I can understand using these new tools can be exciting, when you are learning something new it is really good to just start with the basic stuff first and slowly build upon it. 2/

I have recently noticed this great post from @NOBStrades about these two types of patterns. There is no bid/ask or delta, this is just a simple y-axis volume profile for each bar.
ttps://twitter.com/NOBStrades/status/1423107825564332033?s=20 3/

Although this way you don't know what exactly happened in the bar, if there really were overwhelming about of buyers/sellers in the wick and they are therefore trapped or not. As we all know you need seller for every buyer and seeing a large participation on VP is often enough 4/

This is a 30-minute chart of Bitcoin from the last 2 days, as you can see this type of stuff happens every day as this is how all moves essentially start and begin 5/

It works on any timeframe, make sure to understand that weekly positioning starts weekly trends, something you see on 30m or H1 might start some medium terms moves and tick charts are good for scalps, in other words do try to catch swing trade because you see trap on 5m chart. /6

Only once you are comfortable with simple stuff you should be adding more complex things, watching more in depth footprints generally helps to get into trades early with more confidence /7

You can very simply set up that volume profile inside the @ExochartsC, alternatively, @TicinoTrader has a chartbook for Sierra Chart that combines VP and delta in one so you can see clean volume distribution but also large delta trades. /8

So thats it, tldr is to start simple before going inside with all the new tools you learned. Here are two blog posts that will help you understand things little better if you are really new to all this

tradingriot.com/volume-profile
tradingriot.com/footprint-char…