Plan the Trade

Excellent video Harold.

It's taking time to overcome an EW view that i have practiced for several years now, regarding the NQ and the way it trends.

Basically EW will teach you that a 3w (abc) move will be counter-trend or 'corrective' before the main trend continues again, however, the NQ frequently makes a mockery of this. In fact, on the whole, (unless looking longer term), i don't think the NQ obeys EW rules very well at all.

All instruments trend differently. I found that the Yen pairs, were generally excellent, regarding EW especially when combining Fib levels to confirm wave counts.

Waves a&b will be the 2&3 of a 123;



So EW would suggest caution as a return to main trend (Up) is likely, but the NQ loves to print the 123, trigger and retest of prior pin!

And even when the trend has returned to main (thus abc was correct label), it still often reacts at the same level (Supply) and gives a big enough reaction, to end up with a safe +1;

Here is an 'abc' corrective move retracing to test prior pin, before a further LL;



And again another example, that even when the main trend continues, the reaction will give you points - an easy +10/12 here (notice there is no further LL);



On a bigger scale it will look as if the retracement was the other way and the better trade was going long etc...

And again, what could be construed as an abc move, with caution as a return to the uptrend resumes, only to see the ole 123, trigger and retrace trade;

bought vl for +20 good start

will buy vh

+1

If you bought VL why not sell VH

messy day

Fomc and Wednesday

yep that's enough for me catch up tomorrow

erasmus do u put the tpo chart on a daily chart right??? NQZ17??

It's a separate chart bv

couldn't resist that 123 break pb .. nice finish:

hey guys, still trading the market profile. Was trying NQ CFD for a bit, but I think the spread made the strategy tougher with it being the equivalent of 2 ticks. Hard to adjust for stops too.

Been trading EURUSD with this strategy since my spread is almost 0 and much easier to do. Still practicing and working on discipline and ensuring I use stops. I post on the EU thread. Here are today's results. With forex, watching the NY open at 08:00 EST and then futures open at 09:30. To compare Euro pips to 6E ticks, it's 1 pip equals 2 ticks.

Late start today, but disciplined approach. 123 trigger & pullback;

thanx harold ...can u please check my image of profile if this is right ? How do you i remove todays profile ...i donr need todays profile right??

harold what are the levels for today

in the video I posted the other day it shows my setting for tpo

hook

PullbPullback 5425