London session market profile preps and journal for DAX | Page 14 | Forex Factory

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London session market profile preps and journal for DAX

  • #261
  • Jun 10, 2018 3:05am Jun 10, 2018 3:05am
Quoting BinChenUt
{quote} Well the range is broken....
Hi
I was wondering what platform you use charting volume profile?
  • #262
  • Jun 11, 2018 11:35pm Jun 11, 2018 11:35pm
Quoting wbemsms
{quote} Hi I was wondering what platform you use charting volume profile?
wbemsms,

I am using RanchoDinero as my charting package.
  • #263
  • Jun 11, 2018 11:45pm Jun 11, 2018 11:45pm
Yesterday DAX has retested last week's POC before the ultimate break out.

Usually before a major break out, it is not wise for the market maker to go straight from the low. It is crucial to restore energy right before running into major levels. The pullback leg of yesterday afternoon was a classical example of that.

Given that break in mind, I would set myself with a bullish bias looking to buy into pullbacks and retest of the high volume nodes left from yesterday's trading.

12894 is the first level that I would be interested in building my core long. Above that is only suitable to trade with scalp position.
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  • #264
  • Jun 12, 2018 12:49am Jun 12, 2018 12:49am
Strong seller present at 12885 holding offer.
DAX is not a long before that level being taken out.
Most likely there will be another leg down to wash out the weak longs.
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  • #265
  • Jun 12, 2018 12:51am Jun 12, 2018 12:51am
Quoting BinChenUt
Strong seller present at 12885 holding offer. DAX is not a long before that level being taken out. Most likely there will be another leg down to wash out the weak longs. {image}
Watch 45 and then 20 as the down side target.
  • #266
  • Jun 12, 2018 1:10am Jun 12, 2018 1:10am
DAX holding yesterday's Value High. But the low is a weak low.
I don't expect it would hold like this.
A wash out is needed to repair the chart.
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  • #267
  • Jun 12, 2018 1:33am Jun 12, 2018 1:33am
Bullish rotation.
35 Absorption and 45 is the support now.
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  • #268
  • Jun 12, 2018 11:50pm Jun 12, 2018 11:50pm
DAX has fully auctioned and built value above Monday's VPOC, which is a very bullish stance.
Technically, DAX has built the energy to break higher today.
However, one might question the probability of do so before the major fed announcement and the crucial ECB meeting this week.
I doubt that the big funds would pour money into the indices at this moment.
Hence the primal scenario is still a slow grinding higher type day.
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  • #269
  • Jun 12, 2018 11:54pm Jun 12, 2018 11:54pm
If I were market maker, I would target yesterday's high to look for buy stop orders.
The target is the 12982 high volume node built two weeks ago.
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  • #270
  • Jun 13, 2018 12:26am Jun 13, 2018 12:26am
That has turned out to be a redistribution range?
I have been fooled by myself.
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  • #271
  • Jun 13, 2018 12:34am Jun 13, 2018 12:34am
Two alternative scenarios in play here:
1. making a zigzag and then go higher
2. challenge the Monday low.

Now the first scenario still bears a higher probability
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  • #272
  • Jun 15, 2018 1:19am Jun 15, 2018 1:19am
Where are we after yesterday's price action?

If we take a look at the long term chart, the June was trading below the volume built between 13050 and 12925 just before the high time high. That is the place where the big funds taking position.
After yesterday's bullish price action, DAX was trading solidly above that volume/value area. According to experience, the major volume zone would act as resistance if price trading below or support once price trading above it.
I am anticipating that value area to lend us some support going forward. Once the support is established, DAX should be able to make all time high yet again. Probably, very soon.
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  • #273
  • Jun 15, 2018 1:24am Jun 15, 2018 1:24am
Quoting BinChenUt
Where are we after yesterday's price action? If we take a look at the long term chart, the June was trading below the volume built between 13050 and 12925 just before the high time high. That is the place where the big funds taking position. After yesterday's bullish price action, DAX was trading solidly above that volume/value area. According to experience, the major volume zone would act as resistance if price trading below or support once price trading above it. I am anticipating that value area to lend us some support going forward. Once the...
my humble small opinion (but ready to change fast & furious as usual):
1. low interest rates for at least another year;
2.EURUSD well below 1,20;
3. no tariffs on German cars;
DAX has only one direction !
I call upon my father's spirit , watching over me
  • #274
  • Jun 18, 2018 12:06am Jun 18, 2018 12:06am
DAX attempting to fill the TPO holes left from last week's trading. If the current level does not hold, then it is possible that it would test lower to the 12888 area.

IN the back drop of weak global equity market, the path of least resistance, I am afraid, is to the down side.
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  • #275
  • Jun 18, 2018 12:25am Jun 18, 2018 12:25am
12943 has been acted as a pivot so far. Watch when this level breaks.
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  • #276
  • Jun 18, 2018 12:26am Jun 18, 2018 12:26am
Quoting BinChenUt
12943 has been acted as a pivot so far. Watch when this level breaks. {image}
Longs trapped above.
Watch for retest of that level.
  • #277
  • Jun 18, 2018 2:05am Jun 18, 2018 2:05am
How typical DAX.
Absorb the stops and reverse at the low.
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  • #278
  • Jun 18, 2018 2:31am Jun 18, 2018 2:31am
80 contracts puked.
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  • #279
  • Jun 18, 2018 2:35am Jun 18, 2018 2:35am
Highest volume 1min bar appeared.
Sign of maximum buyers' pain, which is exactly what the market maker would like to see.
Their job is to shake people out of the position.
The more the market losses, the more they make.
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  • #280
  • Jun 18, 2018 2:44am Jun 18, 2018 2:44am
Massive positive delta imbalance after the stop run.
This is the market maker transitioning from limit to market orders after absorbing boat loads of stop orders.
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