Sellers Initially Hit the Market
TradeFlow is CQG’s innovative charting style that is color coded to track traded volume at the ask price versus bid price. The high and the low of the TradeFlow bar is the best bid and ask prices. The TradeFlow bar is colored green for the percentage of volume at the ask price (buying) and red for the percentage of volume of trades at the bid price (selling). For more information on TradeFlow, please see the article list.
The chart is using the 5-tick aggregation.
Yesterday, the market opened and traded into a resistance zone from the previous day’s high, and failed. The market trended down, making a series of lower highs. Prices tested a second resistance zone and failed.
This morning, the market opened lower, recovered, hit a reistance zone and sellers came in.
