Flip Flop Footprint

MarketDelta Trader is a new product by MarketDelta that combines a Footprint chart with the DOM. I have found the Footprints provide some good insight to what the algorithms and high frequency traders are doing. At times in looks like all they are doing is playing games with each other just to suck us all in to erratic price activity, but at least the Footprint sheds light on what is going on gives me an edge. I like this example because it shows normal trading with a jump up with all much of the trading occurring at the ask. Then, it reached a point where probably another algo said "enough" and hit the bid. This occurred at price I highlighted. Price was then auctioned right back down to where it started. If you had looked away for a minute you would have missed the whole thing.

It is moves like this that tend to shake scalpers out of their trades because they price jumps so quickly in one direction, but this really helps because you have confirmation of what is going on each step of the way.

The Afternoon Breakdown

Institutions won the day