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THE KEY METRICS
1) Is this stock in play now?
- Volume traded
- RVOL
- ATR
- Net Change - from prior close and from open
2) The next step is the chart, what is the Set Up?
- What is the price action telling us?
- What levels on the chart seem REALLY important?
3) Then it’s the Time and Sales
- How is it printing?
-- Speed
-- Slow
-- Fast
- What size is it printing?
4) Then Level2. What does that look like?
- Thin and spready?
- Thick and heavy?
- Choppy?
- Fluid?
This checklist seems to be a long one, but in reality it’s less than 3 seconds once you practice it.
So take this process and practice it every time you pull up a symbol.
#tapereading #level2 #scalping
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