Plan the Trade

I add TPO to one chart and it doesn't go to the next...

It is a separate study per chart, you need to open the one you want and add study to each

I was under the impression that the lines can automatically extrapolate from the TPO chart to the trading chart? This is incorrect?

No the levels from tpo charts I put on manually to trading chart

didn't pick up the levels from the 9th .. looks like they worked great Harold well done

took all my trades after 1030:

red arrows are the ones i missed:

I had them on chart since that day it only filled 1/3of the singles more to come when we get to that region again

This is where the fun of it is, how everyone interprets the Profiles. The learning process of how to evaluate different lines, time vs volume, valleys and peaks vs POC's and beyond that, time decay, thus yesterdays profile should be utmost importance, however (and in particular) when we trade outside yesterdays extremes, we look for the next...

Then the next question is, if there are say 3 prior days all with possible values to look for, do we merge them together?! There is tonnes to learn and experience to be gained. I would think i need a couple of years before i will develop my preferred methods, levels and lines to work off (when it is not a simple inside day).

Harold pointed out that you can compare the look of the time profile to that of the volume (value areas) and see which one looks the better.

Sometimes the profile is very simple to set-up, other times, it requires more skill. Looking at the chart itself and seeing if any of the profile lines match already is another tip. Often yesterdays V high becomes todays poc or similar.

Then, of course, can't we just trade pullbacks, in the absence of a strong profile? etc etc

One thing i have just learnt is that it makes sense to take screen shots of prior profiles, so then at a glance you can study a relevant profile from beyond a week ago etc, get an idea of where PA reacted or to see if any gaps or singles are left behind etc



I will watch the following lines to compare reactions if we head lower, using 3 prior merged days (all in similar territory);



I already could not resist a cheeky long off of prior Vlow & Vvl 20-06. Reaction was perfect. Took +10, but already see that i should have held. We are moving such huge amounts lately. It looks like a small bounce currently and yet it is nearly 40 ticks up off of the line... madness!

have tried using market profiles eons ago and found that it's not an easy tool and not for everyone. It seems to me you're having fun so far goodluck

going back to find levels today:

good work cg .. price then bounced off 13th jun vvh to go short

I went short there twice Ras, but didn't over-ride my auto +1 and got taken out both times thus missing the real drop.

Again, different time of the day means different approach. You get used to open, where it seldom hangs about and it's more about getting your order in ahead of the market, whereas here, trying to eliminate risk too early is counter-productive. I kind of knew i had to leave my stoploss above the last LH, but didn't do so.

I'm in that no-mans land at the moment. Whether to trade the open in such times as these, whilst a 10 tick stop is not really enough, but to enjoy the fast movements, vs the less risky, slower moves outside the open? It's all about overcoming the fear factor.

So we've been almost 100 ticks below extreme and with Gap close and TPOC being another 50 odd above that, ie, 150 ticks below yesterdays close and now with volume similar to yesterdays at this time, (merely 24k), what's the verdict?

here were the levels for today

tricky day:

I've not been doing too well lately overall, so i was pleased with myself a moment ago.

I've been annoyed with myself that i tend to be behind the curve ball too often instead of being ahead of the market and i'm trying to go for the big moves often when it is a time to grab, switch and start to grab and miss the bigger move... you know what i'm talking about.

Anyway, i just set a limit buy at an old HVN line that i had left on my chart as PA looked quite stretched at that position. It filled and reacted cleanly off of the line and i grabbed a +10, then quickly set a buy limit at a guesstimate pullback, (stoploss is moved to a tick below line to lessen risk in case we headed lower), grabbed a quickfire +7 as it approached the break of point 2, then quickly set a buy stop at a tick above point 2 for the 123 trigger and chased my stop up ending with +14, so a small move, but ending in +31 (minus 3 comms). It was more the about the execution and took me back to positive for the day too...

I think the insties are in 'risk off' mode! ) that is some drop! twice i tried shorting at 5727 area as HOD & V low 16 - 06 (as per above chart) and got taken out both times, then look what happened!

I feel the trend being down , better to find setups with the trend unless trend line or 2 demand areas are broken ( some rules before bias changes)...my 2c.

Good Luck
Sam

You may have misunderstood my post Sam;



I decided against taking the 123 that formed off of the line, then it dropped 100 odd ticks, i also missed the retest of the HVN whilst writing the first post above!

got it now.
thanks,
Sam