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Auction Market Theory and Market Profile

  • #281
  • Feb 11, 2011 8:34am Feb 11, 2011 8:34am
London DIBL held with UHV. But we have a M30 close below the NY IBL. Stop set to BE+1 just in case Still biased to go down, but that stopping volume is worrisome for my short.
Attached Image (click to enlarge)
Click to Enlarge Name: EU M5 feb 11.png Size: 21 KB
Change is the only constant
  • #282
  • Feb 11, 2011 8:50am Feb 11, 2011 8:50am
tgwhbb
Good lugk withyor short - this is a crucial area i see either Distribution or Accumulation dard to tell as it is Friday
hifx
  • #283
  • Feb 11, 2011 8:51am Feb 11, 2011 8:51am
I mean good luck
hifx
  • #284
  • Feb 11, 2011 8:52am Feb 11, 2011 8:52am
Quoting HIFX
tgwhbb
Good lugk withyor short - this is a crucial area i see either Distribution or Accumulation dard to tell as it is Friday
no luck needed, i'm out a bit late on getting out...should have reacted when i saw the stopping vol on M5 in unfair lows...small positive still better than nagative pips
Change is the only constant
  • #285
  • Feb 11, 2011 8:55am Feb 11, 2011 8:55am
well now she's just playing games with us...
Change is the only constant
  • #286
  • Feb 11, 2011 8:56am Feb 11, 2011 8:56am
New 4hr bar forming in 5 mins.what is your target tgb ? i see 34677 as interimin support
hifx
  • #287
  • Feb 11, 2011 9:07am Feb 11, 2011 9:07am
I have 35515 as ATR resitance - a retest into last hour bar and close above 35515 and i may be tempted for a long into the weekend
hifx
  • #288
  • Feb 11, 2011 9:09am Feb 11, 2011 9:09am
Quoting HIFX
New 4hr bar forming in 5 mins.what is your target tgb ? i see 34677 as interimin support
showing good strength now with increasing vol on up move after the 5M shakeout into the london DIBL. 5M also showing shakeout at NY IBL. looks like earlier was all shakeout moves. EU has broken out of today's developing VAH. If it holds that signals initiative buying which should result to higher prices. If that is the case my targets are 3561 and 3600. more likely 3600 given the narrow NY IB today which is indicative of breakout type session.

Of course, this current up move could also be a shakeout as well...your guess is as good as mine, looks like EU trying to shakeout everyone out today
Change is the only constant
  • #289
  • Edited 9:51am Feb 11, 2011 9:13am | Edited 9:51am
This is what i am watching at the moment ?
hifx
  • #290
  • Feb 11, 2011 9:33am Feb 11, 2011 9:33am
Quoting tgwhbb
showing good strength now with increasing vol on up move after the 5M shakeout into the london DIBL....
and there's the breakout above the IBH. long on break of the shakeout/test on the 5M
Attached Image (click to enlarge)
Click to Enlarge Name: eu M5 feb 11 2.png Size: 21 KB
Change is the only constant
  • #291
  • Feb 11, 2011 9:41am Feb 11, 2011 9:41am
Carefull could be a bull trap
hifx
  • #292
  • Feb 11, 2011 9:50am Feb 11, 2011 9:50am
damn it. my levels are right...entries not so bad...can never seem to get out in time since i'm always looking at the next level. stopped out of my long for +1
Change is the only constant
  • #293
  • Feb 11, 2011 9:56am Feb 11, 2011 9:56am
I think this needs to close and stay above 35668 for a continuation
hifx
  • #294
  • Feb 11, 2011 9:59am Feb 11, 2011 9:59am
This is what i see on the 4 hr
Attached Image (click to enlarge)
Click to Enlarge Name: 6e_cont 4hr.gif Size: 51 KB
hifx
  • #295
  • Feb 11, 2011 10:19am Feb 11, 2011 10:19am
This is what i am seeing on the 4hr.The ABCDE is Elliot wave count (sorry off topic) but it is in my arsenal. We have made lower highs from C. 3502 is a crucial area as is 3582.There is a lot of indecision at the moment - change of ownership.

The red lines are historical support - very hard to determine direction at this area.

Personnaly i am waiting for a break and hold above and below these areas
Good luck to you all.

Flat till Monday for me.

Comments welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: 6e_cont 4hr 2.gif Size: 48 KB
hifx
  • #296
  • Feb 11, 2011 10:35am Feb 11, 2011 10:35am
Attached is the little indicator i wrote to show initial balance lines for each session. A few notes:

 

  1. buffers (lines) are updated AFTER the initial balance of the asian, london and ny sessions. For example the lines change at 9AM for the NY session - 1 hour after the open.
  2. you can specify the session open times in the input parameters as well as some other things.


it seems to work fine for me, but if you have any issues or comments let me know via PM. I still plan on adding more to it, just need to find the time.

Attached File(s)
File Type: mq4 Auction Market.mq4   8 KB | 2,916 downloads
Change is the only constant
  • #297
  • Feb 11, 2011 10:53am Feb 11, 2011 10:53am
Great stuff twg..... i will give it a go over the week end

Cheers
hifx
  • #298
  • Feb 11, 2011 11:07am Feb 11, 2011 11:07am
Quoting tgwhbb
Attached is the little indicator i wrote to show initial balance lines for each session...
What are those abbreviations: DIBH, IBH, IBL and DIBL?
The Market pays you to be disciplined
  • #299
  • Feb 11, 2011 11:16am Feb 11, 2011 11:16am
Quoting mima
What are those abbreviations: DIBH, IBH, IBL and DIBL?
Hi mima,

DIBH = double initial balance high
IBH = initial balance high
IBL = initial balance low
DIBL = double initial balance low

Thanks tgwhbb for the indicator, tested the initial balance concept today on EU, and it looks promising.

Gruß,

Wolfgang
  • #300
  • Feb 11, 2011 11:22am Feb 11, 2011 11:22am
Quoting declaime
Hi mima,

DIBH = double initial balance high
IBH = initial balance high
IBL = initial balance low
DIBL = double initial balance low

Thanks tgwhbb for the indicator, tested the initial balance concept today on EU, and it looks promising.

Gruß,

Wolfgang
indeed promising. if you put it on your EU chart, look back 2 weeks (or however long you set your DaysBack input. price holds those lines practically everytime - especially the DIBH/L. When it doesn't, for example Tuesday's and thursday's asian session, that's when the profile structure and POC lines come in handy to help figure out if its a real move or not.
Change is the only constant
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