Trade weighted moving average price
TWAP - This stands for the weighted moving average price trading price. It is the volume weighted moving average price for the ES futures permanent regular trading day, where volume is measured by the number of trades, not the number of contracts traded. TWAP is a useful reference point. Markets that close (and open) and over short TWAPs acres in bullish mode and vice versa. When the market does breakout move, TWAP is one of the first places to look for a trailing stop. In cases of compromise TWAP remain relatively constant for several consecutive days, often swing trading breakout is at hand weighted moving average price.
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