Market Profile (MP) levels/targets for DAX DOW NQ | Page 269 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Market Profile And Volume Profile MT5 7 replies

London session market profile preps and journal for DAX 350 replies

MT4 broker offering DAX, DOW, Oil & Major Indices 18 replies

Stocks index trading journal: sp500, dow, nasdaq, dax, ftse 15 replies

Market profile trader-Merged profile 0 replies

Attachments: Market Profile (MP) levels/targets for DAX DOW NQ
Exit Attachments

Market Profile (MP) levels/targets for DAX DOW NQ

  • #5,361
  • Jun 12, 2018 7:11pm Jun 12, 2018 7:11pm
Quoting Dutchy Daxy
Nothing to trade here DOW very sideways waiting for FED tomorrow. If the DOW doesn't know where to go to, how will the DAX know? DAX traders have no brains theirself any more during the US sessions. Just followers N Korea old news already. Central banks are in focus now.
short DAX @ 12870

You came here for the truth and let me unveil it for you
  • #5,362
  • Jun 12, 2018 10:49pm Jun 12, 2018 10:49pm
DAX & DOW still sideways. Waiting for the FED & ECB

RUSSEL is peaking ahead of the FED
Attached Image(s) (click to enlarge)
Click to Enlarge Name: FDXM 06-18 (16 Renko) 2018_06_12 (07_44_35).png Size: 76 KB
Click to Enlarge Name: YM 09-18 (16 Renko) 2018_06_13 (07_44_20).png Size: 72 KB
Click to Enlarge Name: RTY.JPG Size: 105 KB
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,363
  • Jun 13, 2018 12:39am Jun 13, 2018 12:39am
How to not make money while being right on a trade on DAX...
My morning analysis was: FOMC day, most likely a range day between yesterday value range or drop.
The RTH VAH was convincingly rejected during Frank hour, then towards the end of Frank hour and at London open, the Frank open price was rejected several times in a short period of time (<15 min)
Price is below my MAs, all pointing down so I short, it reaches yest RTH POC as expected, move my SL to BE+1, price comes back take me out
As price continues below POC, expected to reach VAL, I reenter (not a great entry, bit of FOMO), price reaches the target (but not filled due to the spread), move my SL to BE+1 (I have been burnt many times when my target is missed by <1pip and I am not moving my stops), price comes back and take me out
then price continues to plummet, crashes past my final target (prev day low/-0.25% yest close) and flies much further to my Monday ETH POC (to the pip) and reverses.
Would have been a great day and would be more than done for the day

Good point: I am not as frustrated as I would have been still a few months ago, I see the progress I am making in my analysis thanks to MP,
but it still feels too magical too often for me to trust my analysis, need more screen time, and more relaxed mind
  • #5,364
  • Jun 13, 2018 2:17am Jun 13, 2018 2:17am
Quoting ForeverNewb
How to not make money while being right on a trade on DAX... My morning analysis was: FOMC day, most likely a range day between yesterday value range or drop. The RTH VAH was convincingly rejected during Frank hour, then towards the end of Frank hour and at London open, the Frank open price was rejected several times in a short period of time (<15 min) Price is below my MAs, all pointing down so I short, it reaches yest RTH POC as expected, move my SL to BE+1, price comes back take me out As price continues below POC, expected to reach VAL, I reenter...
Took me several years to learn to read and understand MP (had to learn it by myself with a lot of screen time indeed) and still got surpizzzzzed now & then....

But you are on the right track.

Don't forget to watch the %%%%%%%%.
DAX dropped to the -0.50% on the tick and popped again (same moment as the DOW bounced from the 305 again for the 5th time)
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,365
  • Jun 13, 2018 2:26am Jun 13, 2018 2:26am
DAX
longs above the 875 zone (upside IB) (targets up 905/+0.50% & 970/+1.0%)
shorts below 775 zone -0.50% (target down 700 zone)

Between just scalping and waiting and scalping and waiting. Traders life!
Attached Image (click to enlarge)
Click to Enlarge Name: FDXM 06-18 (10 Renko) 2018_06_13 (11_24_14).png Size: 87 KB
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,366
  • Edited 3:09am Jun 13, 2018 2:51am | Edited 3:09am
DOW tries to get above Todays IB
Long @ 25.335
T1 +10p * 2 lot
2 to go.
T2 +15p
1 to go/SL BE and trailing

DAX is above IB now and on top of the +0.25%
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (12 Renko) 2018_06_13 (11_52_39).png Size: 63 KB
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,367
  • Jun 13, 2018 3:04am Jun 13, 2018 3:04am
Quoting Dutchy Daxy
Don't forget to watch the %%%%%%%%. DAX dropped to the -0.50% on the tick and popped again (same moment as the DOW bounced from the 305 again for the 5th time)
I've been noticing on your charts how often these % price points can be very relevant (although I don't see why they should be in and of themselves as opposed to when coinciding with SR &/or MP levels). Presumably they are drawn automatically by your MP indicator suite (if they are from a separate NT8 indi, please let me know) ?
  • #5,368
  • Jun 13, 2018 3:06am Jun 13, 2018 3:06am
Quoting jtrade
{quote} I've been noticing on your charts how often these % price points can be very relevant (although I don't see why they should be in and of themselves as opposed to when coinciding with SR &/or MP levels). Presumably they are drawn automatically by your MP indicator suite (if they are from a separate NT8 indi, please let me know) ?
% levels is a separate indicator. Has nothing to do with MP/TPO program.

% levels are calculated & plotted automatically every morning
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,369
  • Jun 13, 2018 3:15am Jun 13, 2018 3:15am
Quoting Dutchy Daxy
But you are on the right track.
That is largely because of you and your thread! while I had been fascinated by MP for a long time, it is only when I started to follow your thread, which was very clearly and simply presented, that I began to see the value of it and start to have a glimpse of understanding.
Then I read the CBOT market profile HB, James Dalton books (Mind over market and Markets in profile) and Steidlmayer books (Market logic and New approach to trading), and a few more things around, and it starts to make sense.
My main pb is not so much technical anymore, but very much psychologic. That is what I am focussing on this year. The funny thing is that I am not as successful as I could because trading is too easy! My work/journal/study have shown me than almost every single time (about 98% if I trust my journal) I see the obvious trade, and follow my plan for entering a trade, I think it is too obvious to be true, too simple, too easy to make money, hence it is a trap by market makers, and so my primitive brain takes over (threat of MM) and I blank and become another person, then I wake up (literally) and realise I have f*cked up again (usually meaning not following my exit rules, but can be much worse than that) though >90% of the time it is not and the trade would have worked out all fine. I believe it is a remain of 30-years past life where hard work, and long hours were necessary to succeed (a pb mentioned in many trading psych books). Not going to change in an instant
And with all these issues, I am pretty much break even for the year so far, which is not bad when I think about all the trades I f*ck up! which also means that when I have a good trade (the 2% I don't f*ck up) they are pretty good trades to be able to overcome the 98% poor trades.

It sometimes feels like being required to jump 2 meters to reach heaven, but just being able to jump 1.95 meters, so crash back down to Earth. Feels so close and so far at the same time! Though before this thread (and a couple of others on FF) I was jumping only 30 cm at best so I am getting there
  • #5,370
  • Jun 13, 2018 4:02am Jun 13, 2018 4:02am
There are 3 FEARS to deal with:

Fear of losing real money on our account.

Fear of losing virtual money during a profitable trade (bad exits)

Fear of missing a trade (FOMO) and become impatiance. (bad entries)


These 3 fears affect our trading all the time and makes us making bad/wrong decisions.
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,371
  • Jun 13, 2018 4:37am Jun 13, 2018 4:37am
Quoting Dutchy Daxy;11161514[COLOR=Blue
]DAX longs above the 875 zone (upside IB) [/color](targets up 905/+0.50% & 970/+1.0%) shorts below 775 zone -0.50% (target down 700 zone) Between just scalping and waiting and scalping and waiting. Traders life! {image}
DAX Long @ 870 above the IB
Attached Image (click to enlarge)
Click to Enlarge Name: FDXM 06-18 (15 Minute) 2018_06_13 (13_37_27).png Size: 56 KB
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,372
  • Edited 5:07am Jun 13, 2018 4:50am | Edited 5:07am
Quoting Dutchy Daxy
{quote} DAX Long @ 870 above the IB {image}
Waiting on the 900/+0.50% on US move(s) now.
Crossing the +0.50% a little

Next target 12.940 zone/+0.75% but DAX needs some US support and so far nothing happening there

DOW still in ZEN mode

DAX flat +25/26p last lot @ +0.50% zone
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,373
  • Jun 13, 2018 4:51am Jun 13, 2018 4:51am
In my case I don't think it is so much about money, more about being right/wrong because I still trade with pennies/couple of pounds max with low leverage on my real account (always have been, and will continue as long as I haven't convincingly solved my issues... that is the only rule I have never ever broken from my initial business plan; in a couple of years of trading, I have lost less than £200 in total... I have spent much more on much less interesting endeavours!), and the issues occur the same on demo.
ALso trying too often to be smarter than the market... again many things that made me successful in my past life are playing against me in trading. But that is the challenge I was looking for, it is just taking a tad longer than I planned as I underestimated the psych side (or overestimated my psych strengths... trading that way is clearly a cheap and effective alternative to visiting a shrink )
  • #5,374
  • Edited 5:22am Jun 13, 2018 5:05am | Edited 5:22am
Quoting ForeverNewb
In my case I don't think it is so much about money, more about being right/wrong because I still trade with pennies/couple of pounds max with low leverage on my real account (always have been, and will continue as long as I haven't convincingly solved my issues... that is the only rule I have never ever broken from my initial business plan; in a couple of years of trading, I have lost less than £200 in total... I have spent much more on much less interesting endeavours!), and the issues occur the same on demo. ALso trying too often to be smarter...
more about being right/wrong

There can only be a wrong (action) if you don't follow your strategy.

My strategy is crossing certain MA lines for an entry and MP / % for possible targets.

Sometimes my strategy doesn't work because the market decided otherwise. Market is ALWAYS right.
When my strategy doesn't work in some occasions, it doesn't mean its a wrong strategy or wrong trade decision.

Its only wrong if you do not follow the/your rules and mess around a little bit because you are bored or not foccused/concentraded or trying to be smarter than the market...
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,375
  • Jun 13, 2018 5:32am Jun 13, 2018 5:32am
Quoting Dutchy Daxy
{quote} more about being right/wrong There can only be a wrong (action) if you don't follow your strategy. My strategy is crossing certain MA lines for an entry and MP / % for possible targets. Sometimes my strategy doesn't work because the market decided otherwise. Market is ALWAYS right. When my strategy doesn't work in some occasions, it doesn't mean its a wrong strategy or wrong trade decision. Its only wrong if you do not follow the/your rules and mess around a little bit because you are bored or not foccused/concentraded.
exactly! I came to that conclusion already in January; especially as one of my most successful day of trading (>200 pips in the day) was a very poor trading day (not following my strategy, just lucky during these very high volatility day). I noted in my journal I was not happy with my trading at all and that I will be right only if I strictly follow my strategy, not if I make bunch of lucky ticks! but obviously haven't been able to fully internalise it since... I understood that only this week (with some other breakthrough, hence why I am so talkative today, quite excited about it... sorry for highjacking your thread!) I knew, but deep down didn't understand (the same as I knew for a long time there is a difference between knowing and understanding, but seems like I really understand it just now).
Anyways, I think it is time for me to take a couple of days off to put all that on paper and then a new demo week to test that new knowledge (a bit too euphoric to trade real account at the moment)... the end of the tunnel is nigh... until I discover a new issue with myself
  • #5,376
  • Edited 6:56am Jun 13, 2018 6:39am | Edited 6:56am
DAX & DOW Long

DAX @ 12.877
T1 +9p
1 to go
FLAT -2p last lot


DOW @ 25.355
T1 +12p
1 to go
Target 385/400 Monday RTH POC & +0.25%
FLAT +5p last lot
IB 330<>370

Choppy (as usual) but now extra choppy because of FED/FOMC Tonight
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,377
  • Edited 7:22am Jun 13, 2018 7:04am | Edited 7:22am
DOW testing Y VWAP & POC @ 325 zone

DOW Long 335 again
T1 +8p
1 to go/SL BE now

FLAT BE last lot

Nothing to do here. Maybe back Tonight FOMC
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,378
  • Edited 8:24am Jun 13, 2018 8:06am | Edited 8:24am
DAX breaks out above its IB again.

LOng @ 12.870

FLAT +25p last lot @ +0.50% and BRN 900 zone
Attached Image (click to enlarge)
Click to Enlarge Name: FDXM 06-18 (10 Renko) 2018_06_13 (17_06_24).png Size: 94 KB
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,379
  • Jun 13, 2018 8:21am Jun 13, 2018 8:21am
DOW Long @ 25.346

T1 +12p
1 to go/SL BE

Price still between all 3 MA lines (gathered) and still inside the In Balance of Today.
Chops its way up.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (12 Renko) 2018_06_13 (17_20_51).png Size: 60 KB
It's better to be out wishing to be in... than to be in wishing to be out!
  • #5,380
  • Jun 13, 2018 11:25am Jun 13, 2018 11:25am
Intrest up +0.25%

DOW down by -0.25%

Intresting

In a DOW short 1 lot @ 305
+20p locked in
FLAT +20p 1 lot only
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (15 Minute) 2018_06_13 (20_26_38).png Size: 54 KB
It's better to be out wishing to be in... than to be in wishing to be out!
7 traders viewing now