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  • #2,501
  • Jul 30, 2009 3:35am Jul 30, 2009 3:35am
malcolmb, what period do you use on your RSX ?
  • #2,502
  • Edited 8:49am Jul 30, 2009 7:51am | Edited 8:49am
Quoting malcolmb14
I think this is what is going to happen to gj over next 24 hours. ....that 4 hr candle is loaded with sellers....250 easy pips if price stays under 156.25

Attachment
Good thing you waited for a reaction--that was nothing but a Bear
trap baby!!!


EDit:
testing for supply Now---
waiting on low vol.....................
will buy more
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  • #2,503
  • Jul 30, 2009 8:45am Jul 30, 2009 8:45am
Dow watchers--
i think they are done re-accumulating--don't know how you
guys do it--its hard to read the vol with better vol on the dow--

funny--some douche bag on cnbc is talking about a correction
--lol--yeah--buddy--not yet...
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  • #2,504
  • Jul 30, 2009 9:01am Jul 30, 2009 9:01am
Hi Taomql,

why that bar is sellers ? But You are long ?
Dont understand why its called bear trap.

Thank You.

Best,
Tom


Quoting taomql4
Good thing you waited for a reaction--that was nothing but a Bear
trap baby!!!


EDit:
testing for supply Now---
waiting on low vol.....................
will buy more
  • #2,505
  • Jul 30, 2009 9:11am Jul 30, 2009 9:11am
TwoBuckChuck,

Thanks for the revised Marketprofile,I don't know if any one else had a problem of it not showing up after downloading, nothing came up on my charts.
  • #2,506
  • Edited 10:09am Jul 30, 2009 9:25am | Edited 10:09am
Quoting tfflyer
Hi Taomql,

why that bar is sellers ? But You are long ?
Dont understand why its called bear trap.

Thank You.

Best,
Tom
i was long(TF4 hr-relatively high vol. bar closing the middle==buyers) just before the sellers bar showed up-as you can see there's
buying in the background--

sellers bar===markets don't usually like wide spread up bars on high vol.
usually means change in market forces and the next downbar proved it,
but it was a bear trap because the bar was falling on low/decreasing vol.and coming down to a support line, i knew the S/R would hold.so,no worries on my part===check tf30min signs of re-accu.
  • #2,507
  • Edited 9:57am Jul 30, 2009 9:47am | Edited 9:57am
more like a markup-- Dow 9651--here we come baby!!!
this is going to test the bears==am going to enjoy looking
at their faces to see if they can hold their nerves..lol==cause
things could very well tumble from there---

dont worry---just think lack of revenue growth--lol
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  • #2,508
  • Jul 30, 2009 10:32am Jul 30, 2009 10:32am
TwoBuckChuck,
very nice martket profile indy. I likey!!!

Also, anyone who uses market profile should not discount the high and low value areas and the trades that setup in these areas.
  • #2,509
  • Jul 30, 2009 11:54am Jul 30, 2009 11:54am
Quoting TwoBuckChuck
I had modified the market profile mt4 indi for my own use a while back, some may find this update useful. This is not an extension of the previous one, the POC lines are the same as the original.

The settings are as follows:

StartDate = The date to start the profiler (only applies if ShowToday is false)

ShowToday = show today's profile (remember it will be incomplete)

CountProfile = Number of days back to show the profiler

SkipSundayData = skips sundays (set to false if your broker has no sunday bars)

Asia_Color = The color of the Asia...



Hello Dear TwoBuckChuck (damn, your name is long) lol lol


Your addition to the market profile indicator is really great. I thanks you a lot for that. Absolute great works


Do you think, it would also be possible to have also the higher value area lines and the lower value areas lines being plotted along the POC lines of the previous days?

Reason is, those lines are also importants S/R lines along with the POC.

Also, would there be a way to code to have many numbers of day in one single POC line, VAH and VAH like 1 week or 1 month compiled in one big POC, VAH and VAL lines?

Thanks in advance

Shreem
  • #2,510
  • Jul 30, 2009 11:59am Jul 30, 2009 11:59am
Quoting taomql4
Dow watchers--
i think they are done re-accumulating--don't know how you
guys do it--its hard to read the vol with better vol on the dow--

funny--some douche bag on cnbc is talking about a correction
--lol--yeah--buddy--not yet...

what do we know about declining volume when price goes up ?

you talk about traps ..... look at markets ... 30 points on s & p in days based on what ???? some bullshit companies beating earnings per share ... maybe if they set realistic targets . A frigging worm could jump the bar that analyists set.

also lets see what else is going on
1) unemployment claims up for 2nd week ....Summer is when jobs are created not lost ... that is seasonal
2) house foreclosures highest ever June ... and yet they talk about how great the housing market is and how well the recovery is
3) insider selling at ALL time highs ... yes they maybe 2 months early. Why are they selling if the market is going to the moon.
4) Banks making stacks of money ... HELLO !!! BOA closing 10 branches and housing foreclosures at 80,000 per month is 300 billion loss to banks per year. Oh hold on they do not have to report losses last 2 quarters due to change on mark to market ruling..never mind their balanace books will show profit. I vote BOA as next major bank to go down.
5) s&p down graded both of the largest bodning companies out there that protect mortageg / loan bonds to JUNK
6) CIT is filing for bankruptcy mid August if it does not get another 3 billion .. they chewed thru 1st 3 billion of LOANs from bond holders.
7) markets going up on better than expected earnings .. even though revenues for most companines down by 30 % !!! some 80 % !!! are the investors BLIND or just STUPID
8) OH GS paid back 23% on trap loan .... 1.4 billion how great is TARP and what a great return on on investment. BULLSHIT ! 90% of the companies that have tarp loans outstanding could not afford to pay dividends and 460 billion of TARP money is yet to be repaid ... wtf the tax payers gave them money the idea they were suppsoed to beconme profitable and pay dividends when due.

Most investors are just blind ...... and soon .. very soon .. they are going to see the light when their 401 k lose another 50 % or more

Is correction coming .. you bet it is ... just look at the declining volume on this up move.

In the mean time scalping the 5 min chart is the way to go .. been awesome week for me.

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  • #2,511
  • Jul 30, 2009 12:13pm Jul 30, 2009 12:13pm
wonder if 160 is reasonable ?

nice comments malcolmb
  • #2,512
  • Jul 30, 2009 12:18pm Jul 30, 2009 12:18pm
Quoting lumesh
wonder if 160 is reasonable ?

nice comments malcolmb

would not bet on it for now .... ES came 6 points off 1000.

we could see 160 in the London session . i am playing 5 min charts day by day anything can happen .

I look at ftse , nikkie and us indexes on daily i see overbought everywhere with waht looks like upthrusts at end of this week

I look on weekly .. all i see there is bearish div on every single index.... this whole move smells bloody fishy to me
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  • #2,513
  • Jul 30, 2009 12:34pm Jul 30, 2009 12:34pm
Quoting malcolmb14
what do we know about declining volume when price goes up ?

you talk about traps ..... look at markets ... 30 points on s & p in days based on what ???? some bullshit companies beating earnings per share ... maybe if they set realistic targets . A frigging worm could jump the bar that analyists set.

also lets see what else is going on
1) unemployment claims up for 2nd week ....Summer is when jobs are created not lost ... that is seasonal
2) house foreclosures highest ever June ... and yet they talk about how great the housing market is and...
Excellent stuff Malcolm and perhaps there are another 8 negative points to ad to the US economy. The country is virtually bankrupt, lead by crooks and the stockmarkets are partying! It's disgusting!
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  • #2,514
  • Edited 2:52pm Jul 30, 2009 12:35pm | Edited 2:52pm
Quoting malcolmb14
what do we know about declining volume when price goes up ?

you talk about traps ..... look at markets ... 30 points on s & p in days based on what ???? some bullshit companies beating earnings per share ... maybe if they set realistic targets . A frigging worm could jump the bar that analyists set.

also lets see what else is going on
1) unemployment claims up for 2nd week ....Summer is when jobs are created not lost ... that is seasonal
2) house foreclosures highest ever June ... and yet they talk about how great the housing market is and...
Ohh i see the declining vol..its just funny to watch some of
the bears lose their nerves-Pity--i can't read past the months on the
mt4 platform--that sucks---i think the bulls are just riding
oversold levels---some hedge funds are in a panic and
covering their shorts and the greedy ones(don't want to be "left out"..lol)are buying dips
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  • #2,515
  • Jul 30, 2009 12:39pm Jul 30, 2009 12:39pm
malc if u look at previous two days with shadows to the downside with increasing volume, would you think that the market was intially wanting to go short but those two days were absorbtion of all the selling and thus we can expect (and do) higher prices ?

also would you mind telling your period for RSX ?

thanks a lot.
  • #2,516
  • Jul 30, 2009 12:40pm Jul 30, 2009 12:40pm
Quoting azibi
Excellent stuff Malcolm and perhaps there are another 8 negative points to ad to the US economy. The country is virtually bankrupt, lead by crooks and the stockmarkets are partying! It's disgusting!
lol do not get me started on Goldman sachs and what they are getting away with ... the US is spending billions in Afghanistan looking for terrorists when the real terroists are on Wall Street
Blogging daily now at www.volume.zone
  • #2,517
  • Jul 30, 2009 12:46pm Jul 30, 2009 12:46pm
Quoting lumesh
malc if u look at previous two days with shadows to the downside with increasing volume, would you think that the market was intially wanting to go short but those two days were absorbtion of all the selling and thus we can expect (and do) higher prices ?

also would you mind telling your period for RSX ?

thanks a lot.
accumualtion ES clear on 60 .. that is why i mentionedi n post yesterday today wopuld be up day ES

rsx i use comobo of 10 / 14 and 21 depdning what I am doing that day

today i am using 6 ..... scalping channel
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  • #2,518
  • Jul 30, 2009 2:09pm Jul 30, 2009 2:09pm
Quoting Scottstone
TwoBuckChuck,
very nice martket profile indy. I likey!!!

Also, anyone who uses market profile should not discount the high and low value areas and the trades that setup in these areas.
This is why I like to keep the profile on.
Also some days might have two high value areas but one is slightly more than the other so it gets the POC Line.

Have a look at Tuesdays Profile on GU.
The rally on GU today got stopped in the other high value area around 6520 from Tuesday whereas the POC was drawn in at 6427.
The 6520 was a virgin area that had not been visited whereas the the actual POC from Tuesday which had been 'used and abused' on Wednesday and did not stop price from moving up. There was only a small bounce and a little struggle as it moved through this area.
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Boxing clever since 76.
  • #2,519
  • Jul 30, 2009 2:56pm Jul 30, 2009 2:56pm
Quoting azibi
Excellent stuff Malcolm and perhaps there are another 8 negative points to ad to the US economy. The country is virtually bankrupt, lead by crooks and the stockmarkets are partying! It's disgusting!
its not like that has never happened before--Forget fundamentals for Now-
They are on a mission--
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  • #2,520
  • Jul 30, 2009 3:57pm Jul 30, 2009 3:57pm
Quoting copi88
This is why I like to keep the profile on.
Also some days might have two high value areas but one is slightly more than the other so it gets the POC Line.
I totally agree, good point. If though, the previous days high or low value areas haven't been used and abused, and the value area limits have not been tested yet, would you consider fading these areas if a nice vsa setup was taking place, like upthrust or spring into the area, or do you just ignore these areas?

I'm fairly new to using market profile, only a couple weeks so far, so appreciate your feedback copi88
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