To fully understand this lesson we strongly recommend you study: Footprint, Volume and all prior TPO modules.
Single Prints are comparable to a wick on a typical candlestick chart.
Remember a wick at the low is a Buying Tail and a wick at the high is your Selling Tail.
Single Prints occur in the middle of price action, this will be explained in greater detail in this tutorial.
This template can be found here.
To fully understand this lesson we strongly recommend you study: Footprint, Volume and all prior TPO modules.
Single Prints are comparable to a wick on a typical candlestick chart.
Remember a wick at the low is a Buying Tail and a wick at the high is your Selling Tail.
Single Prints occur in the middle of price action, this will be explained in greater detail in this tutorial.
This template can be found here.
Key Points of the Lesson
UTILITY
Use Single Prints as Support/Resistance levels.
Using Buying and Selling Tails to help determine good highs/lows.
Increase the probabilities of your trade setups.
IMPLEMENTATION
Specialized software: Exocharts, Atas.
Load standard CC TPO template (Exo Web)
Single prints, Buying/Selling tails are marked automatically.
BACKGROUND
Single Prints ⇒ Inefficiencies in price action.
3 single rows are needed to create a Single Print, BT or ST ⇒ 5+ recommended.
Can be traded like a “gap” in the stock market (or CME Bitcoin futures).
If price is trading above a row of SPs ⇒ Expect the top to act as support.
If price is trading below a row of SPs ⇒ Expect the bottom to act as resistance.
If price gains acceptance into the SP area ⇒ expect it to be “filled”.
BUYING & SELLING TAILS
Like a SP, but at the high or low of the TPO profile.
Show evidence of a larger trader entering the market and causing a price reversal.
Indicate that the high/low is “good”.
POOR HIGH/LOW
A pivot high/low without a ST/BT.
Expect continuation in the direction of the poor high/low.
Expect a Swing Failure Pattern to create a ST or BT ⇒ “clean up” the poor high/low.
TIPS & TRICKS
Always check the Volume, Delta and Open Interest inside a BT/ST.
It is best to see an increase ⇒ Indicates many trapped traders.
If the BT or ST is formed on low Volume, Delta and Open Interest, then not recommended to trade (unless it’s a major pivot high/low).
TAKE HOME MESSAGE
Look for rejection or acceptance into an area of Single Prints.
Identify poor highs/lows vs. Selling/Buying tails.
Recognize strength or weakness early to increase the probabilities of your trade setups.