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Auction Market Theory and Market Profile

  • #381
  • Feb 15, 2011 7:53pm Feb 15, 2011 7:53pm
Please enjoy these guys as well.

Inserted Video
  • #382
  • Feb 15, 2011 7:55pm Feb 15, 2011 7:55pm
Ok some charts

We're back between last week's low and close. We're in yesterday's VA, and we're also sitting at some (minor) supply levels on the 15m.
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  • #383
  • Feb 15, 2011 8:07pm Feb 15, 2011 8:07pm
Sorry for all the music, got out of class early and I'm excited to see my lady it's been four years this week since we met.

Inserted Video


You just gotta listen to the whole darn song

Here's a chart of the dollar index. Today's value area is squished in the VA from a couple days ago. Looks like a retrace in an uptrend, and also today looks nontrend so could we see a resumption tomorrow?
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  • #384
  • Feb 15, 2011 8:14pm Feb 15, 2011 8:14pm
Quoting HiddenGap
Paying attention to trend has its pluses and minuses. The current trend is down, but there were ample opportunites to take longs at the unfair lows today and make money. And that has more to do with the day type today was/is (profile doesn't stop until 0300).

But this how I see the trend over the last few days. If I went back 4 more days, you would see three down POCs prior to the two up POCs at the begining of this chart. That would imply that the first two profiles were retraces within the larger down trend.
Something doesn't sit right with me when I think of trend in terms of POCs, can't put my finger on it though.

I would love the ability to merge profiles because I think it would give you a very intuitive understanding of profile trend over time.
  • #385
  • Feb 15, 2011 9:17pm Feb 15, 2011 9:17pm
Sorry Frank, I should have posted my question straight to your thread rather than Mals. I will remember for next time
  • #386
  • Feb 15, 2011 9:18pm Feb 15, 2011 9:18pm
Now look at the euro FX future /6E chart, with 4hr bar with monthly volume profile.

1.3743 is last month VAL being rejected. (guess who is look at this chart? May be is just the few cat here digging at the backlane)

price now reluctantly going up on ultra thin volume. (ya...it is asian session)

So do you think those croc will buy during London Open?

Now 1.3257 (Dec POC)

And 1.3147 (Jan VAL)

is performing a nice belly dance for the price.

Frank...please add in the muuuusic..
Attached Image (click to enlarge)
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  • #387
  • Feb 15, 2011 9:20pm Feb 15, 2011 9:20pm
Quoting Intel
Sorry Frank, I should have posted my question straight to your thread rather than Mals. I will remember for next time
It's all good bud
  • #388
  • Feb 15, 2011 9:25pm Feb 15, 2011 9:25pm
Quoting frankkn
Something doesn't sit right with me when I think of trend in terms of POCs, can't put my finger on it though...
Here's a better way.

Follow the value areas.

At B we have a market that is finding value lower (than A). Once B is established the trend is down until A gets "taken out". So even though C is higher than B, we are still in a down trend. But once value is established above A at D, the trend has changed from down to up.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #389
  • Feb 15, 2011 9:40pm Feb 15, 2011 9:40pm
Quoting HiddenGap
Here's a better way.

Follow the value areas.

At B we have a market that is finding value lower (than A). Once B is established the trend is down until A gets "taken out". So even though C is higher than B, we are still in a down trend. But once value is established above A at D, the trend has changed from down to up.
Hi HG,

When will you write your forex book ?

You seem to make things just easier to understand.
  • #390
  • Feb 15, 2011 10:49pm Feb 15, 2011 10:49pm
Man, you guys are doing such an awesome job on this thread. Definitely the best MP thread that I've seen to date!

As you know, Steidlmayer's books are goldmines of great, experience-based observations. Just read a great sentence in Steidlmayer On Markets (p. 140) today:

As you trade, you'll find that you'll trade well when you've been reading the market accurately in the present tense; when you've been trading poorly, you've been unable to do this.

Seems like a given but, how many traders/methods truly base what they're doing on reading the market as it rolls along; using the ever-changing feedback that it provides instead of basically, flipping a coin?

Thanks!
  • #391
  • Feb 16, 2011 2:42am Feb 16, 2011 2:42am
Quoting Fudomyo
Here's a decent MT4 VPOC indicator, in case anyone here might find it useful. (if you only want the POC, VPOC levels to use in conjunction with other MP tools, just set the histogram colors to none)

cheers,

Fudo
hi fundo, i loaded VPOC indi and noticed that it starts at 13.30 and edns at 19.59. is there any reason for this? i found the times in the code and changed them to include the whole day as per below in red, is there anything wrong with my changes as im not a coder but it seems to work ok.

if(StringFind( Symbol(), "#")!=-1||StringFind( Symbol(), "_")!=-1)
{
StartTime="00:00";
EndTime="23:59";
 }
else
{
StartTime="0:00";
// StartTime="13:30";
// EndTime="19:59";
EndTime="23:00";
}
  • #392
  • Feb 16, 2011 4:18am Feb 16, 2011 4:18am
Hi bandung,

I am testing the Indi you posted,very nice.I wasjust wondering if anybody else had this spike on the profile ?
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hifx
  • #393
  • Edited 4:53am Feb 16, 2011 4:35am | Edited 4:53am
Long USDCHF @ 0.9626..just below POC
closed:+46
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The Market pays you to be disciplined
  • #394
  • Feb 16, 2011 4:38am Feb 16, 2011 4:38am
Quoting HIFX
Hi bandung,

I am testing the Indi you posted,very nice.I wasjust wondering if anybody else had this spike on the profile ?
I tested it, didn't see the spike.
  • #395
  • Feb 16, 2011 4:50am Feb 16, 2011 4:50am
Check out the developing value area.

See it might bounce near VAL (value area low)
Attached Image (click to enlarge)
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  • #396
  • Feb 16, 2011 5:21am Feb 16, 2011 5:21am
Very very nice VPOC visit:
http://www.pictureup.cz/media/images...370081cc44.png
Start time adjusted to 2 hour pre-London in this example.
  • #397
  • Edited 6:32am Feb 16, 2011 5:35am | Edited 6:32am
Quoting Sdvsa
Very very nice VPOC visit:

Start time adjusted to 2 hour pre-London in this example.

Im on this one too, bought the no supply on the 5 min
  • #398
  • Feb 16, 2011 5:46am Feb 16, 2011 5:46am
Im confused as to what time we should be setting the market open time to on the market profile... What do you guys use?
  • #399
  • Feb 16, 2011 5:50am Feb 16, 2011 5:50am
Quoting mima
kindly post smaller picture like everyone else...Thank you.

Thats not my pic
  • #400
  • Feb 16, 2011 5:53am Feb 16, 2011 5:53am
Quoting NaughtyPip
Thats not my pic
Ya, sorry I noticed it...You replied to him and in your respond was same picture...so...
The Market pays you to be disciplined
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