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Auction Market Theory and Market Profile

  • #881
  • Mar 14, 2011 11:15pm Mar 14, 2011 11:15pm
Quoting tgwhbb
..I was wondering about session open times given the daylight savings change on Sunday as this affects the initial balance...
Good question. I believe that London does have daylight savings, although not on the same date as the states in the U.S. that observe it. So that means for now the London session starts at 4:00 NY time. I am still checking on this though.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #882
  • Mar 15, 2011 12:54am Mar 15, 2011 12:54am
yes. europe and london go on the last sunday of march, if i remember well... tokyo doesn't, it stays the same.

Quoting HiddenGap
Good question. I believe that London does have daylight savings, although not on the same date as the states in the U.S. that observe it. So that means for now the London session starts at 4:00 NY time. I am still checking on this though.
Nihil Sine Deo.
  • #883
  • Mar 15, 2011 1:27am Mar 15, 2011 1:27am
London has summer time and advance their clock for one hour in summer. GMT does not change/has no daylight saving.

http://en.wikipedia.org/wiki/Greenwich_Mean_Time

Quoting HiddenGap
Good question. I believe that London does have daylight savings, although not on the same date as the states in the U.S. that observe it. So that means for now the London session starts at 4:00 NY time. I am still checking on this though.
  • #884
  • Edited 7:04am Mar 15, 2011 6:43am | Edited 7:04am
After the Opening Drive, the responsive selling see price back down into Value Area. Single Print is spotted with what seems like initiative selling below Value Area. Interesting now cause GU is now tested on 1.6000..

If no spring back up to 1.6000 then a drive down could sell furthur weakness to next quarter level of 1.5750. Or basic test 1.6 instead on the upside could bring about a relieve recovery on a short term.

Attached Image (click to enlarge)
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  • #885
  • Mar 15, 2011 7:25am Mar 15, 2011 7:25am
well, had a buy limit set at 3930 last night (was going to set it to 3960 but that felt a little too close), but things broke down unfortunately...

I'm now waiting to see reaction in between the two drawn lines, roughly 3910 (yesterday VAL) - 3930 (developing POC) for further direction. IMO still bullish for now as EU found responsive buyers where there were initiative buyers on Friday, indicated by the box at Friday's LVN.
Attached Image (click to enlarge)
Click to Enlarge Name: EU M15 2011-03-15 at 8.18.00 AM.png Size: 81 KB
Change is the only constant
  • #886
  • Mar 15, 2011 7:40am Mar 15, 2011 7:40am
Quoting HiddenGap
Good question. I believe that London does have daylight savings, although not on the same date as the states in the U.S. that observe it. So that means for now the London session starts at 4:00 NY time. I am still checking on this though.
Check out the main page of FF and click on the market on the left, if your local time is set on FF it tells you what time the markets open. Yep LO is 4am EDT.


Good morning gentlemen, today's the last day of the quarter. I'll be done by 10pm tonight but I can take some time this morning for NYO.

The short term trend is down, but there are going to be some bulls at some of the structures we have below us this will be interesting, who knows who will win.
  • #887
  • Mar 15, 2011 7:44am Mar 15, 2011 7:44am
At the 3900 area we have last week's VAL and d#4 and d#5 POCs, I'd love to see a rally into that area for a short, but for the past nine hours (since midnight EDT) the dips have been bought so I'm keeping an open mind although the 4h trend is down.
  • #888
  • Mar 15, 2011 7:59am Mar 15, 2011 7:59am
Quoting frankkn
Check out the main page of FF and click on the market on the left, if your local time is set on FF it tells you what time the markets open. Yep LO is 4am EDT.


Good morning gentlemen, today's the last day of the quarter. I'll be done by 10pm tonight but I can take some time this morning for NYO.

The short term trend is down, but there are going to be some bulls at some of the structures we have below us this will be interesting, who knows who will win.
looking forward to having you back on the thread frank!
Change is the only constant
  • #889
  • Mar 15, 2011 8:00am Mar 15, 2011 8:00am
Quoting frankkn
At the 3900 area we have last week's VAL and d#4 and d#5 POCs, I'd love to see a rally into that area for a short, but for the past nine hours (since midnight EDT) the dips have been bought so I'm keeping an open mind although the 4h trend is down.

Also above that there is supply, today's developing value area high, and this week's developing point of control in the 3925 area. The supply area is several pips north but I'm including it as well.

Doesn't take away the 15m bullish volume, let's see the reaction of the market to that volume. If it results in a rally I'll be carefully watching the reaction at these levels for possible shorts. If the volume changes the longer term trend I'll be looking at longs at these (or other) levels.
  • #890
  • Mar 15, 2011 8:00am Mar 15, 2011 8:00am
Quoting tgwhbb
looking forward to having you back on the thread frank!
Thanks bud, nice try with the limit order they can't all be golden !
  • #891
  • Mar 15, 2011 8:18am Mar 15, 2011 8:18am
The DOW is just below 12,000. I'm curious if the EU and DOW still have the same risk appetite driven correlation.
  • #892
  • Mar 15, 2011 8:26am Mar 15, 2011 8:26am
5m shows possible selling at the 3900/WVAL but I don't like the stopping volume so close. I want to see a nice rally into 15m supply (3925-3950) before I start looking for shorts. No longs for me either as the trend is still down.
  • #893
  • Mar 15, 2011 8:52am Mar 15, 2011 8:52am
Here we are at a supply level, how will the bulls react?

The left chart is H4, middle is M15 both with weekly volume profiles, on the right is M5 with daily profile (at DVAH).

Don't worry about the RSI you see on the left, I don't use it for trading decisions I have it on my charts just to observe it for a little while.
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  • #894
  • Mar 15, 2011 9:04am Mar 15, 2011 9:04am
Hi,
Can you tell me what indicator you use for showing IBH/DIBH, etc.?

Thank you.
Ox

Quoting tgwhbb
given this afternoon's PA, i've revised my target long entry higher to around 3960 area. This is the secondary POC for today, and today's VAH. see attached.
  • #895
  • Mar 15, 2011 9:14am Mar 15, 2011 9:14am
Quoting frankkn
how will the bulls react?
.

Bulls are super strong today, H4 trend changing?
  • #896
  • Mar 15, 2011 9:54am Mar 15, 2011 9:54am
Quoting frankkn
Here we are at a supply level, how will the bulls react?

The left chart is H4, middle is M15 both with weekly volume profiles, on the right is M5 with daily profile (at DVAH).

Don't worry about the RSI you see on the left, I don't use it for trading decisions I have it on my charts just to observe it for a little while.
At the third supply level at the moment. EU is up big after equities have been open for an hour, the dow has dropped sharply. Could investors be showing that Euro safer than USD?
  • #897
  • Mar 15, 2011 10:26am Mar 15, 2011 10:26am
Quoting Oxford
Hi,
Can you tell me what indicator you use for showing IBH/DIBH, etc.?

Thank you.
Ox
its the Auction Market indicator. you can get it form the attachments on this thread.
Change is the only constant
  • #898
  • Mar 15, 2011 10:28am Mar 15, 2011 10:28am
Quoting frankkn
Bulls are super strong today, H4 trend changing?
H4 looks like a bullish engulfing about to happen. and it also looks like it could be forming an inverse H&S, with a final target of 4250. That is also november's VAH
Change is the only constant
  • #899
  • Mar 15, 2011 10:29am Mar 15, 2011 10:29am
Quoting frankkn
At the third supply level at the moment. EU is up big after equities have been open for an hour, the dow has dropped sharply. Could investors be showing that Euro safer than USD?
or could it be that the shakeout in EU is done while the one in DOW is still underway given the session opened not too long ago? I'm not watching DOW so just a hypothesis.
Change is the only constant
  • #900
  • Mar 15, 2011 10:43am Mar 15, 2011 10:43am
Quoting tgwhbb
or could it be that the shakeout in EU is done while the one in DOW is still underway given the session opened not too long ago? I'm not watching DOW so just a hypothesis.
DOW gapped down and hasn't filled, still down -1.78%. Could be a shake out for sure.

Since that bullish volume on EU there hasn't been enough supply to fight the bulls, and my H4 candle is 20 minutes from closing. If she closes like this it would be a nice two bar reversal and the trend would probably be up for the rest of the week and I'll be looking to buy dips (during the limited time I have for charts). No bearish volume and the trend appears to be turning up.

Because I may only be able to take one or two trades this week I've been sitting on the side lines waiting for my A+ today while hitting the books for finals tonight.
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