That FDAX is a great trading instrument because of the volatility it offers and good liquidity. Here is a bid ask Footprint chart on a 1 minute time frame from this morning that I couldn’t pass up showing. It offers two valuable things.
- A topping pattern that you would only see on a Footprint chart. (longs stuck at the high) and,
- Short term reference point based on an area of volume that served as resistance.
The second screenshot below developed as I was writing. Notice how this trade continued to play out in our favor!
Click for larger view
Click for larger view
