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Auction Market Theory and Market Profile

  • #221
  • Feb 9, 2011 11:21am Feb 9, 2011 11:21am
Quoting Scrat
well... can it?
next target should be 3769.
closed my long at the DIBL. IB today too wide to expect much more of a move up. plus the POC and IBL need to be tested. didn't want to risk my 70 pips.
Change is the only constant
  • #222
  • Feb 9, 2011 12:34pm Feb 9, 2011 12:34pm
Quoting tgwhbb
closed my long at the DIBL. IB today too wide to expect much more of a move up. plus the POC and IBL need to be tested. didn't want to risk my 70 pips.
hmmm,retrospect is a wonderful thing. the last 30M bar closed above the DIBH. and the M5 shows a low vol test of the DIBH, it could probably still move up from here...should have looked at the time, i thought it was later in the afternoon...oh well. won't complain about today's profit
Change is the only constant
  • #223
  • Feb 9, 2011 1:08pm Feb 9, 2011 1:08pm
Quoting Scrat
well... can it?
next target should be 3769.
are you basing that on the Jan. 2 low or something else? Just curious, if something else, confluence is a good thing
Change is the only constant
  • #224
  • Feb 9, 2011 4:15pm Feb 9, 2011 4:15pm
Today's POC is at 1.3645, which coincides with NY/LO IBL and last thursday's hourly trigger. MP theory tells us that today's POC should be tested tomorrow, making tomorrow's natural trading range roughly 3730 to 3640. That assumes EU doesn't leave the POC naked, which is a possibility as well.

I'm not courageous enough to short EU, i'd rather wait and watch. If it does make its way down towards 3640 area in asia/london it will present a beautiful long opportunity if the POC and/or VAH holds. It could be just what the doctor ordered actually since this up move seems to be lead mainly by the US session with london just starting initiative buying today.
Change is the only constant
  • #225
  • Feb 9, 2011 4:36pm Feb 9, 2011 4:36pm
Looks like we're going to have a 2nd day with a higher POC. Also our value area envelops yesterday's.

Price bounced off of today's VAL and closed above the VAH. This seems bullish because there wasn't strong enough responsive selling to contend with the initiative buyers.

Today's high was put in at last Thursday's VAH of ~1.3739.

I'm in class right now and wanted to post this between notes because I might not be able to get on tonight.
Attached Image (click to enlarge)
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  • #226
  • Feb 9, 2011 5:31pm Feb 9, 2011 5:31pm
Quoting frankkn
Looks like we're going to have a 2nd day with a higher POC. Also our value area envelops yesterday's.

Price bounced off of today's VAL and closed above the VAH. This seems bullish because there wasn't strong enough responsive selling to contend with the initiative buyers.

Today's high was put in at last Thursday's VAH of ~1.3739.

I'm in class right now and wanted to post this between notes because I might not be able to get on tonight.
interesting profile...much different than mine on spot, and looks like the secondary POC is about the same as the primary...interesting.
Change is the only constant
  • #227
  • Feb 9, 2011 7:39pm Feb 9, 2011 7:39pm
Quoting tgwhbb
interesting profile...much different than mine on spot, and looks like the secondary POC is about the same as the primary...interesting.
Hey T

Here's my spot how does it compare to yours
Attached Image (click to enlarge)
Click to Enlarge Name: f9c.jpg Size: 61 KB
  • #228
  • Feb 9, 2011 8:07pm Feb 9, 2011 8:07pm
Quoting frankkn
Hey T

Here's my spot how does it compare to yours
hello frank and all...

we got an inside day on GU...
near SR ...
R : 1.6110 Mon TPO
R : 1.6125 Tues TPO
S : 1.6070 Wed TPO
S : 1.6000 BRN
currently gu rejecting by broken res, blue area on my chart...
Attached Image (click to enlarge)
Click to Enlarge Name: gu-mp.png Size: 39 KB
...
  • #229
  • Feb 9, 2011 9:18pm Feb 9, 2011 9:18pm
Quoting bandung
hello frank and all...

we got an inside day on GU...
near SR ...
R : 1.6110 Mon TPO
R : 1.6125 Tues TPO
S : 1.6070 Wed TPO
S : 1.6000 BRN
currently gu rejecting by broken res, blue area on my chart...
bandung,

nice chart. Is this MT4? first time i see a profile indy like that. TF 1 1HR, so are those 1HR profiles?

it certainly looks like reactive buying on at the blue resistance as price does not hang around there very much.
Change is the only constant
  • #230
  • Feb 9, 2011 9:21pm Feb 9, 2011 9:21pm
Quoting frankkn
Hey T

Here's my spot how does it compare to yours
looks pretty much the same
Attached Image (click to enlarge)
Click to Enlarge Name: EU M30 2011-02-09 at 10.20.14 PM.png Size: 71 KB
Change is the only constant
  • #231
  • Feb 9, 2011 9:28pm Feb 9, 2011 9:28pm
Quoting frankkn
Third time's the charm
Frank, prior to uploading this Market Profile Basic.pdf document I didn't see that you have already link in one of your posts to the same document ...Sorry.
The Market pays you to be disciplined
  • #232
  • Edited 9:56pm Feb 9, 2011 9:54pm | Edited 9:56pm
i think today is shaping up to be different then the last 3 days...

Asian IB is 19 pips. twice what it has been each day since sunday's open. I would expect a range bound asian session between roughly 3727 and 3708 - with a possible extension to DIBL/H. it has been testing 3708 since after the IB and has not moved, which is good i think because it is building value where we saw the first upthrust yesterday at 3PM GMT. Asia was not initiatively buying yesterday either as price did not break out above the DIBH. And yesterday's POC is below at 3646 which so that is generally visited the next day. Price has been capped by the DIBH during london sessions yesterday and tuesday as well - reactive selling. But a good sign for bulls is NY showing reactive buying at yesterday's DIBH.

The good thing for bulls is we are not seeing and initiative selling so no serious down move to be anticipated. I'm waiting to see in the morning what london has done as the picture is not as clear anymore to me. I'm still biased towards a test of 3640 or its VAH around 3655 before we continue to move up.
Attached Image
Change is the only constant
  • #233
  • Feb 9, 2011 10:16pm Feb 9, 2011 10:16pm
Quoting tgwhbb
bandung,

nice chart. Is this MT4? first time i see a profile indy like that. TF 1 1HR, so are those 1HR profiles?

it certainly looks like reactive buying on at the blue resistance as price does not hang around there very much.
Hi Tq...
it is mt4, i just switch to line chart and set the color to none, and using fixed scale chart

it daily profiles... can be viewed on M5 to H1 TF...

I'm reading this thread and the basic stuffs of MP... and try to make the mp indi... for a better understanding...

....

back to gu

rejected by 1.6110 and back to opening price...
Attached Image (click to enlarge)
Click to Enlarge Name: gu-mp01.PNG Size: 29 KB
...
  • #234
  • Feb 9, 2011 10:20pm Feb 9, 2011 10:20pm
Quoting mima
Frank, prior to uploading this Market Profile Basic.pdf document I didn't see that you have already link in one of your posts to the same document ...Sorry.
Hey bud,

No need for sorry I'm really glad! It led me to read it again and I feel like I get something new each time, I appreciate it. That is one of the most useful documents on this thread.
  • #235
  • Feb 9, 2011 10:21pm Feb 9, 2011 10:21pm
Quoting tgwhbb
looks pretty much the same
Excellent!
  • #236
  • Feb 9, 2011 10:23pm Feb 9, 2011 10:23pm
Quoting bandung
Hi Tq...
it is mt4, i just switch to line chart and set the color to none, and using fixed scale chart

it daily profiles... can be viewed on M5 to H1 TF...

I'm reading this thread and the basic stuffs of MP... and try to make the mp indi... for a better understanding...

....

back to gu

rejected by 1.6110 and back to opening price...

Dude that is one gorgeous MP indi
  • #237
  • Feb 9, 2011 11:01pm Feb 9, 2011 11:01pm
Quoting frankkn
Dude that is one gorgeous MP indi
i'm still testing it...
if it is ok ?, I will upload it here... so anyone can test it..
i dont want to distract your thread with indic...
...
  • #238
  • Feb 10, 2011 2:45am Feb 10, 2011 2:45am
Any body place a buy order at yesterday POC 1.3647?

For those who short since asian session, bravo to you!
  • #239
  • Feb 10, 2011 5:28am Feb 10, 2011 5:28am
Cheeky wee short of yesterdays high and major fib on daily still running.
Maybe to 3607
hifx
  • #240
  • Feb 10, 2011 5:29am Feb 10, 2011 5:29am
sorry forgot to post chart
Attached Image (click to enlarge)
Click to Enlarge Name: cheeky.gif Size: 50 KB
hifx
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