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During the day, I just have 4 charts open on whenever I am trading. These four charts are ES, NQ, $TICK, EUR/USD.
Here is the 5min chart for ES for today (May 22 2009). The pink line in this graph is the cumulative VWAP study on ToS charts.. See how ES has bounced off of that VWAP all day long – we think that the action is random, but it isn’t. In the morning, it touched vwap-2 and bounced back sharply from it. Combine this with TICK (I will do a more detailed post later) and you have a gold mine. For now, all I will say is that you need a very strong positive/negative TICK to push the price across VWAP onto the other side.
