I agree dunleg, all the things you mention are causing alot of size to trade in a tight range in these ED markets...in ranging markets it is much easier to see where these hedgers and spreaders are taking positions...usually you can tell when 'things aren't making much sense'...in other words, a lot of these guys don't necessarily care about the absolute price of the contracts, just the spread between and the size they can do to offset other positions...this further exacerbates things as these short end markets get bogged down with big order flow but no real momentum either way...this in my opinion changes the way you would normally interpret your entry and exit signals...
it is true as others mentioned...sometimes you have to ignore the size and stay in a trade you would otherwise be looking to exit...for example, today in SEP05 someone sold about 5500 contracts at 18 and 17.5 in one clip when very little was happening and in fact shortly thereafter 19's were trading... In another example, someone lifted about 2000 contracts at 18.5 and about 4 minutes later it was trading 16.5...talk about lack of momentum...
it is true as others mentioned...sometimes you have to ignore the size and stay in a trade you would otherwise be looking to exit...for example, today in SEP05 someone sold about 5500 contracts at 18 and 17.5 in one clip when very little was happening and in fact shortly thereafter 19's were trading... In another example, someone lifted about 2000 contracts at 18.5 and about 4 minutes later it was trading 16.5...talk about lack of momentum...