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Auction Market Theory and Market Profile

  • #701
  • Mar 2, 2011 2:45am Mar 2, 2011 2:45am
Quoting Islander
Glad to see somebody else trading cable - what a super European Session yesterday - 4 x 70 pip swings and one 50 pip

Now we have yesterdays 6253 POC as resistance and the 6216 POC from a week ago as support - perhaps not for long - TWT
Target POC 1.6251

KG

PS: Jessss... just finish posting it and the target already hit
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  • #702
  • Mar 2, 2011 3:23am Mar 2, 2011 3:23am
Quoting Kang_Gun
Target POC 1.6251

KG

PS: Jessss... just finish posting it and the target already hit
Nice & LOL - yes, half an hour to drop 24 pips and four minutes to go up 40!

It was also an MS2 to MS1 pivot move......

Construction PMI in 10 mins.....
Trading Levels with WRBs
  • #703
  • Mar 2, 2011 5:42am Mar 2, 2011 5:42am
Thanks bandung for the indicator....
I just play with your indicator start from London open.. very nice and clear compare with the other open or close market.

KG
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  • #704
  • Mar 2, 2011 6:23am Mar 2, 2011 6:23am
I just start to try market profile and market statistics1 in last week.

I don't know where is the better place (buy/sell tail or POC? ) to enter the market on market profile chart. any suggestion, please!
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  • #705
  • Mar 2, 2011 6:33am Mar 2, 2011 6:33am
Quoting HiddenGap
Possible stopping volume.

The irony is that our REWARD has increased but out RISK has narrowed. We are at unfair lows and near a HUP. If we see a No Supply or a Test in this area another long trade could be taken.

(time of day is the enemy)
nice call, right through to the top of yesterday's value. Hope you got in sometime during asia! i got in at 3755 and out at 3805 as per my previous post.

AMT rocks!
Change is the only constant
  • #706
  • Mar 2, 2011 6:56am Mar 2, 2011 6:56am
Hi guys,

I hope you are all doing well.
I have just found a great article about MP that explains how to look at it to determine what the market might be able to do next....

http://www.marketdelta.com/xm_client...20Strategy.pdf

Have a nice read
Mel
  • #707
  • Mar 2, 2011 7:10am Mar 2, 2011 7:10am
Quoting Jack168
I just start to try market profile and market statistics1 in last week.

I don't know where is the better place (buy/sell tail or POC? ) to enter the market on market profile chart. any suggestion, please!
check the following posts for several good resources to learn AMT. posts 7, 8, 28, 136
Change is the only constant
  • #708
  • Mar 2, 2011 7:18am Mar 2, 2011 7:18am
[quote=@mel;4441268]Hi guys,

http://www.marketdelta.com/xm_client...20Strategy.pdf

Sorry, Tgwhbb,
I have just notticed that you have posted it in the past.
Cheers,
Mel
  • #709
  • Mar 2, 2011 8:13am Mar 2, 2011 8:13am
Could this current auction process be complete, signaling a new auction to the down side?

AMT states markets go from imbalance, to balance, to imbalance. EU has been in imbalance moving price up to the 3850 area, and has been balancing there for a few days. This last 15 bar shows a possible completed auction process with the long selling tail - aka upthrust - into unfair highs. I'm waiting for a confirmation and ND on at least the 15M before shorting though.

took the initiative buying run up this morning during NY IB, albeit for only 22 pips - i got out based on 5M which seemed to be stalling at london's high.

if this is the start of a new auction process, logical target would be the naked weekly POC at 3674 with possible extension to last week's VAL at 3650ish. Since price was accepted back into last week's value area Asia/late NY yesterday, this is a distinct possibility.

Thoughts?
Attached Image (click to enlarge)
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Change is the only constant
  • #710
  • Mar 2, 2011 9:03am Mar 2, 2011 9:03am
Quoting tgwhbb
Could this current auction process be complete, signaling a new auction to the down side?
hmmm, maybe not.
Change is the only constant
  • #711
  • Mar 2, 2011 10:35am Mar 2, 2011 10:35am
I'm still trying to integrate this indy into my use of pivots etc, but it does seem to give stand alone levels.....

The wide ranged buy candle after FO was during the UK data - already known by the Big Dogs. That candle tested both last Wednesday's POC as support and yesterday's much used POC from Monday as resistance.

Then the pull back into the ADP release turned at yesterdays POC for a further leg up to new daily highs for this year
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #712
  • Mar 2, 2011 11:10am Mar 2, 2011 11:10am
Quoting Islander
I'm still trying to integrate this indy into my use of pivots etc, but it does seem to give stand alone levels.....

The wide ranged buy candle after FO was during the UK data - already known by the Big Dogs. That candle tested both last Wednesday's POC as support and yesterday's much used POC from Monday as resistance.

Then the pull back into the ADP release turned at yesterdays POC for a further leg up to new daily highs for this year
I was using fib retracement of the highs of yesterday & found the confluence of the clusters of POCs to be @38% level limit @ 6215...took a small pot shot of it but close out after the hammer. i was lucky there, GU makes me nervous..
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  • #713
  • Mar 2, 2011 11:29am Mar 2, 2011 11:29am
Sell GU at 1.6340 and already set BE+1, we'll see...
MP indicator set at London Close

KG
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  • #714
  • Mar 2, 2011 12:01pm Mar 2, 2011 12:01pm
Nice setup structure now on USDCAD.

Usually a bit quiet now but Ucad have a secondary test on shakeout sitting on POC after yesterdays climactic selling shakeout on news.

Potential test now on low supply on previous high volume level countermanding the previous supply. In addition to the most watch 50sma test too..

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  • #715
  • Mar 2, 2011 12:11pm Mar 2, 2011 12:11pm
been watching UCAD for a couple of days now, and yesterday's action is good news for longs - at least short term.

Monday's VA (1) broken on the low side and established new VA around .9710 (2).

Then UCAD creates new value (3) in between the 2 established VAs. This is indicative of a possible change in trend.

today a move up to monday's naked POC was to be expected. No excessive volume at the top, so not real strong sellers there, the drop is purely technical to test yesterday's naked POC back at 9710 where there was a nice test of the POC on less volume than yesterday's shakeout.

long at 9720 on the break of the test/shakeout high today. SL to BE already just in case as UCAD has been in a pretty strong downtrend plus it hasb een rejected into Monday's VA. but it still seems like strength to me for now, target 9790 - Monday's VAH.
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Change is the only constant
  • #716
  • Mar 2, 2011 12:12pm Mar 2, 2011 12:12pm
Quoting Kang_Gun
Sell GU at 1.6340 and already set BE+1, we'll see...
MP indicator set at London Close

KG
No major selling pressure at all. Price could still slide on weak demand now. But i am looking at the POC level of yesterday for a long opportunity around 6275

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  • #717
  • Mar 2, 2011 12:16pm Mar 2, 2011 12:16pm
Quoting kave
Nice setup structure now on USDCAD.

Usually a bit quiet now but Ucad have a secondary test on shakeout sitting on POC after yesterdays climactic selling shakeout on news.

Potential test now on low supply on previous high volume level countermanding the previous supply. In addition to the most watch 50sma test too..

Attachment
nice, glad to see someone else watching ucad! see my previous post, talk about timing
Change is the only constant
  • #718
  • Mar 2, 2011 12:21pm Mar 2, 2011 12:21pm
Just got home from work, wanted to share a trade from right before I went to bed last night. We saw some stopping volume into a virgin point of control from last week, and I placed my order just north of that test-like bar (the second marked bar). My stop was below the low of the stopping volume and I targeted the value area low of the current (at that time) profile.
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  • #719
  • Mar 2, 2011 12:30pm Mar 2, 2011 12:30pm
Quoting tgwhbb
nice, glad to see someone else watching ucad! see my previous post, talk about timing
haha, great minds think alike

Your post is informative...
  • #720
  • Mar 2, 2011 12:32pm Mar 2, 2011 12:32pm
Quoting frankkn
Just got home from work, wanted to share a trade from right before I went to bed last night. We saw some stopping volume into a virgin point of control from last week, and I placed my order just north of that test-like bar (the second marked bar). My stop was below the low of the stopping volume and I targeted the value area low of the current (at that time) profile.
nice! looks like we took the same trade, at around the same time
Change is the only constant
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