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frankkn Feb 2, 2011 5:36pm | Post# 101

Nice

frankkn Feb 2, 2011 5:53pm | Post# 102

My POC is now 1.38038. I like to keep my start of day for that at Tokyo Open.

frankkn Feb 2, 2011 6:01pm | Post# 103

I really like his emphasis on r:r.

frankkn Feb 2, 2011 6:02pm | Post# 104

Using Virgin POC trade idea by Michael Jardine
http://ensign.editme.com/virginpoc

Since we are told price is attracted to the Virgin POC. with VSA entry is placing a sell stop below the 1hr chart ND up bar, and wait for it to hit the POC.
Thanks for the link dude.

tgwhbb Feb 2, 2011 6:09pm | Post# 105

What do you guys think, will we retest this balance area?
Today's profile is a double distribution, essentially 2 POC's, one around 1.3840 and the other "official" POC at 1.3803. On the hourly it looks like the dip got bought, and we just closed a NS H1 bar right at the close of the hourly shakeout. I'm leaning more towards a retest of the top POC at the moment.

Regarding your indy for profile, i use the iPolo market profile indy which i believe i found on Malc's VSA thread. It seems quite accurate.

pres78 Feb 2, 2011 6:11pm | Post# 106

Today's profile is a double distribution, essentially 2 POC's, one around 1.3840 and the other "official" POC at 1.3803. On the hourly it looks like the dip got bought, and we just closed a NS H1 bar right at the close of the hourly shakeout. I'm leaning more towards a retest of the top POC at the moment.

Regarding your indy for profile, i use the iPolo market profile indy which i believe i found on Malc's VSA thread. It seems quite accurate.
Does it also mark the VAH and VAL? or just POC? I have been using it but only see POC's???

tgwhbb Feb 2, 2011 6:15pm | Post# 107

Does it also mark the VAH and VAL? or just POC? I have been using it but only see POC's???
yeah, unfortunately it only prints the POC. but if you set showProfile to true it shows the complete profile and you can easily estimate the value area. I've been trying to figure out how to modify the indy to show a VAH and VAL line like HG has on his latest charts but so far to no avail...

frankkn Feb 2, 2011 6:22pm | Post# 108

1 Attachment(s)
Today's profile is a double distribution, essentially 2 POC's, one around 1.3840 and the other "official" POC at 1.3803. On the hourly it looks like the dip got bought, and we just closed a NS H1 bar right at the close of the hourly shakeout. I'm leaning more towards a retest of the top POC at the moment.

Regarding your indy for profile, i use the iPolo market profile indy which i believe i found on Malc's VSA thread. It seems quite accurate.
Cool, check out the euro futures volume profile, seems more clear. Still a higher POC
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frankkn Feb 2, 2011 11:52pm | Post# 109

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Here I've entered off of no selling pressure following strength, I'm targeting the blue area which is supply, previous support, and a high volume node.
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frankkn Feb 3, 2011 8:45am | Post# 110

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What do you guys think, will we retest this balance area?
We're smashing into this area with astronomical volume.

The last trade panned out well, I really like bars as opposed to candlesticks. They strip away all of the distraction and leave only SM intention.
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tgwhbb Feb 3, 2011 8:55am | Post# 111

We're smashing into this area with astronomical volume.

The last trade panned out well, I really like bars as opposed to candlesticks. They strip away all of the distraction and leave only SM intention.
we are at last week's POC. If this area holds we should see a good move up from here.

frankkn Feb 3, 2011 8:56am | Post# 112

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Here's the dollar index. It is stretching up for its big balance area. I took the screen shot a couple minutes ago, and it is now just reaching the area.
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frankkn Feb 3, 2011 8:58am | Post# 113

we are at last week's POC. If this area holds we should see a good move up from here.
Great observation thanks for bringing that to my attention. You ready my friend?

tgwhbb Feb 3, 2011 9:01am | Post# 114

Great observation thanks for bringing that to my attention. You ready my friend?
yep, waiting for at least the down trend to stop on the M5 though...

frankkn Feb 3, 2011 9:07am | Post# 115

yep, waiting for at least the down trend to stop on the M5 though...
That's what I've been watching as well. I wouldn't be opposed to an entry off of a larger TF (15m, 30m, 1h) considering how large this balance area is

tgwhbb Feb 3, 2011 11:01am | Post# 116

balance point
 
let's see how the rest of the day shapes up, but yesterday's and today's POC are still up there at 1.3800 and today's is currently slightly higher than yesterday's. More reason to believe this is a shakeout similar to last Friday. and if its not just a shakeout, we'll very likely need to go up at some point to test those higher value areas.

Also wanted to point out if you merge yesterday's profile with Tuesday's profile, you'll see that yesterday filled in the void area from Tuesday's profile. I read somewhere that when low areas get filled that is a sign of value building in that direction. So since yesterday filled the void are higher than Tuesday's POC, the market is still building a case for higher value.

I might try a long today if the setup comes about, but for now i'm still watching.

tgwhbb Feb 3, 2011 12:37pm | Post# 117

EU long term
 
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Here's the volume profile for EU since the start of 2010. As you can see EU it is currently right at the value peak for hte last year. what is also shown are clusters of monthly POC. 3940&3960 above, and a cluster around 4280. Below a cluster around 3600, then down to the 3333 area.

Not quite sure what to make of it yet, and maybe too longer term for intraday trading, but it does at least point out major supply and demand levels.

As frankk mentioned in a previous post, we are now in a major value area which should act as strong demand.
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tgwhbb Feb 3, 2011 12:41pm | Post# 118

time well spent
 
I've got the house to myself most of the weekend, will be trying to learn more about market structure here

http://www.traderkingdom.com/market-...hived-webinars

frankkn Feb 3, 2011 4:01pm | Post# 119

I've got the house to myself most of the weekend, will be trying to learn more about market structure here

http://www.traderkingdom.com/market-...hived-webinars

Hey tgwhbb,

Thanks for adding some more resources. I too will have my place to myself this weekend as my girl is visiting her family's farm.. Very glad to have work to keep me here lol. I'll be hitting this up as well.

Gonna be watching the Asain session for long opportunities if they're presented

tgwhbb Feb 3, 2011 4:13pm | Post# 120

Hey tgwhbb,

Thanks for adding some more resources. I too will have my place to myself this weekend as my girl is visiting her family's farm.. Very glad to have work to keep me here lol. I'll be hitting this up as well.

Gonna be watching the Asain session for long opportunities if they're presented
same here...bullish volume has started to present itself on the M5 and a bit on the M15 as well.


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