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  • #2,521
  • Jul 30, 2009 4:00pm Jul 30, 2009 4:00pm
Quoting Scottstone
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

I am the guy who introduced market profile concept . Not sure what plkatform you are using it on but todays upper value are has been tested a few time (158 ) , short off it , closed vwap , long vwap , closed poc , 80 down 40 up , now seieng if price gets above POC in Asia . I am out till 5 pm pst
Blogging daily now at www.volume.zone
  • #2,522
  • Jul 30, 2009 4:00pm Jul 30, 2009 4:00pm
Quoting malcolmb14
I am the guy who introduced market profile concept . Not sure what plkatform you are using it on but todays upper value are has been tested a few time (158 ) , short off it , closed vwap , long vwap , closed poc , 80 down 40 up , now seieng if price gets above POC in Asia . I am out till 5 pm pst

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  • #2,523
  • Edited 5:53pm Jul 30, 2009 4:04pm | Edited 5:53pm
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.

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...
If u like to use market profile u can find a useful thread here http://www.forexfactory.com/showthread.php?t=38423 and u can find an advance market profile indi for mt4 here http://www.traderslaboratory.com/for...form-5668.html .

Cheers.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #2,524
  • Jul 30, 2009 4:07pm Jul 30, 2009 4:07pm
Quoting taomql4
its not like that has never happened before--Forget fundamentals for Now-
They are on a mission--
http://www.youtube.com/watch?v=7upG01-XWbY

mission to trap bulls. .. looks like upthrust to me today
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  • #2,525
  • Jul 30, 2009 4:48pm Jul 30, 2009 4:48pm
Hey Copi88, this is kind of what I am getting at, something like this works as well.
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  • #2,526
  • Jul 30, 2009 6:18pm Jul 30, 2009 6:18pm
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.
Good stuff mate.

About the high/low areas. These are essentially the daily high/low anyway (the same as your daily candle/bar).

But yea, that shouldn't be a problem. I'll code that in as soon as I can and post the update.

The reason why I didn't add this was that the previous day high/low is really only of importance. It may start to get a bit clustered if all of the profiles have the daily high/lows lines as well.

Nonetheless, I will do that for you, tooo easy

Keep on pippin.
  • #2,527
  • Jul 30, 2009 6:28pm Jul 30, 2009 6:28pm
Quoting malcolmb14
mission to trap bulls. .. looks like upthrust to me today
That would mean christmas has come early for the bears!!!
will see if that upthrust knocks it sideways for distribution
cause my doomsday scenario starts around 9600,maybe they
ready--
BTW, your daily chart volume looks really normal compare to
mt4 better volume--one more reason to get esignal now---

EDIT--mal,whats that red and green indy in the background?
been meaning to ask you that...
  • #2,528
  • Jul 30, 2009 6:36pm Jul 30, 2009 6:36pm
Quoting Scottstone
Hey Copi88, this is kind of what I am getting at, something like this works as well.
I'd be very careful with those. That's what Tom and Todd have termed as polar bears in Hawaii or palm tree's in Alaska. That is, they don't belong there because the background indicates strength (also visible on the 4hr).

I caught this ej long but had to wait quite a while for the supply to be abolished. There was no way I was looking for shorts, not with background strength like that.

My chart about explains it all
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  • #2,529
  • Jul 30, 2009 6:49pm Jul 30, 2009 6:49pm
Quoting taomql4
That would mean christmas has come early for the bears!!!
will see if that upthrust knocks it sideways for distribution
cause my doomsday scenario starts around 9600,maybe they
ready--
BTW, your daily chart volume looks really normal compare to
mt4 better volume--one more reason to get esignal now---

EDIT--mal,whats that red and green indy in the background?
been meaning to ask you that...

just a moving average cross over system to help me stay in trades longer once vsa got me into them
Blogging daily now at www.volume.zone
  • #2,530
  • Jul 30, 2009 6:58pm Jul 30, 2009 6:58pm
Quoting TwoBuckChuck
I'd be very careful with those. That's what Tom and Todd have termed as polar bears in Hawaii or palm tree's in Alaska. That is, they don't belong there because the background indicates strength (also visible on the 4hr).

I caught this ej long but had to wait quite a while for the supply to be abolished. There was no way I was looking for shorts, not with background strength like that.

My chart about explains it all

got to love those low vol tests

added another 25 pip to my bag on this one . already a 65 pip asian session and just warming up

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  • #2,531
  • Jul 30, 2009 7:18pm Jul 30, 2009 7:18pm
Quoting malcolmb14
got to love those low vol tests

added another 25 pip to my bag on this one . already a 65 pip asian session and just warming up

Attachment
I was looking at your chart thinking, "wheres the low vol test?" because I am watching right now... Now I can see esignal chart is different to FXCM... The vol is ok but what I saw instead was a short upbar on low vol, looking like a ND... damn
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  • #2,532
  • Jul 30, 2009 8:19pm Jul 30, 2009 8:19pm
Quoting TwoBuckChuck
I'd be very careful with those. That's what Tom and Todd have termed as polar bears in Hawaii or palm tree's in Alaska. That is, they don't belong there because the background indicates strength (also visible on the 4hr).

I caught this ej long but had to wait quite a while for the supply to be abolished. There was no way I was looking for shorts, not with background strength like that.

My chart about explains it all
Your right, seen the same thing happening. BUT...... I seem to have this little problem with trying to swing both ways and follow price up and down like a little puppy dog. Yeah, lesson learned, very easy to get burned doing that.
  • #2,533
  • Jul 31, 2009 1:43am Jul 31, 2009 1:43am
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.
Being of advanced years its tough to teach an old dog new tricks. Thanks to you for this indi and the others that contribute here for the help. Getting there albeit slowly.
  • #2,534
  • Jul 31, 2009 1:46am Jul 31, 2009 1:46am
Quoting Scottstone
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
Scott

The way I trade is by finding support and resistance levels on the 1H chart as this is the highest universal TF.
I will then look for any confluences with Fibs to add weight to them.
I will also look to see if they are around POC areas and if those areas are virgin to add further weight.
Then I will watch on lower TF's as watch price approachs these lines and look for VSA clues as to whether they will hold or not.

I will then either enter on the line or if undecided will wait for further confirmation (low vol test etc) that the line will hold and price is going to in my direction.

In other words VSA is going to tell me When to enter and Market Profile with S&R is going to tell me Where.

I find this method the most effective, safest (highest probability) and most logical way of trading.

If anyone wants to read more about support and resistance see the No Brainer thread and go through Billys PDF on the fist post.
http://www.forexfactory.com/showthread.php?t=86429

Also more on MP in the thread Lubo posted http://www.forexfactory.com/showthread.php?t=38423

Hope this helps
Boxing clever since 76.
  • #2,535
  • Jul 31, 2009 4:31am Jul 31, 2009 4:31am
Quoting copi88
Scott

The way I trade is by finding support and resistance levels on the 1H chart as this is the highest universal TF.
I will then look for any confluences with Fibs to add weight to them.
I will also look to see if they are around POC areas and if those areas are virgin to add further weight.
Then I will watch on lower TF's as watch price approachs these lines and look for VSA clues as to whether they will hold or not.

I will then either enter on the line or if undecided will wait for further confirmation (low vol test etc) that the...
I've not been around much as TwoBuckChuck and myself are putting the finishing touches on the VSA trainer system... That said I just wanted to pop in quick to say this was an excellent post Copi. Thanks for the links and your excellent explanation on how to approach trading using some of these other time tested methods with VSA at the base.
The trend always ends.
  • #2,536
  • Jul 31, 2009 4:41am Jul 31, 2009 4:41am
Hey Copi88, thanks for the help and advice. Good info to know. That is the same way I am trying to trade. Market Profile for likely to be hit levels and watching for VSA setups to take place around these areas. To me it seems like a very logical way to trade.
  • #2,537
  • Jul 31, 2009 6:39am Jul 31, 2009 6:39am
Hello,

I'm already trading the J16 & Jacko methods and before I dive into VSA and put in the time to learn it, I just wanted to know quickly if VSA would compliment the J16 method or other methods or is it better to use VSA as a standalone method?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #2,538
  • Jul 31, 2009 7:55am Jul 31, 2009 7:55am
OKay, who is messing with the GDP report?LMAO....here we go again--
better-than-expected performance--from -6.0 contraction to -1.0--hmmm
what a spread...
  • #2,539
  • Jul 31, 2009 8:30am Jul 31, 2009 8:30am
Quoting LasVahGoose
Hello,

I'm already trading the J16 & Jacko methods and before I dive into VSA and put in the time to learn it, I just wanted to know quickly if VSA would compliment the J16 method or other methods or is it better to use VSA as a standalone method?
Funny thing is i cant use another system without lookin
for vsa setups-lol-or confirming signals with vsa setups--
in short---i can't trust any signal(even if i see MTF buy/sell arrow) without VSA confirming it--
so why not master it------
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  • #2,540
  • Edited 9:02am Jul 31, 2009 8:51am | Edited 9:02am
Nooow--i can look at those fancy red(sell) and blue(buy) arrow stuff
..lol----probably late entry's--even my fav. Green and red trend indy's(shout out to flash) can't really
catch up but close(white=neutral)
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