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Auction Market Theory and Market Profile

  • #1,701
  • Apr 7, 2011 8:02am Apr 7, 2011 8:02am
Quoting Kang_Gun
check who's post that?

KG
doh!
Change is the only constant
  • #1,702
  • Apr 7, 2011 8:09am Apr 7, 2011 8:09am
Quoting bandung
oot...
now i know what it mean... lol
Thanks for that I've never watched these speeches, very interesting.

Trichet sure can't comment on a lot of topics
  • #1,703
  • Apr 7, 2011 8:11am Apr 7, 2011 8:11am
Quoting tgwhbb
nice! for what it's worth, i would hold now until at least 4221...the naked POC down below...with SL set to above today's developing POC.
hmm, looks like a ton of selling around 1.43...but unable to break yesterday's VAL...maybe she just might hold up and what we're seeing is more absorption??

Time will tell, i'm still on the sidelines for now, not worth the risk...made 4% this week and I intend on keeping it...
Change is the only constant
  • #1,704
  • Apr 7, 2011 8:13am Apr 7, 2011 8:13am
p pattern possibility? we''ll see if 1.4222 holds.
  • #1,705
  • Apr 7, 2011 8:18am Apr 7, 2011 8:18am
Session profiles
Attached Image (click to enlarge)
Click to Enlarge Name: sessions.jpg Size: 82 KB
Markets are not efficient, rather they are effective - Jones
  • #1,706
  • Apr 7, 2011 8:20am Apr 7, 2011 8:20am
We just touched last weeks high.............
Markets are not efficient, rather they are effective - Jones
  • #1,707
  • Apr 7, 2011 8:20am Apr 7, 2011 8:20am
Quoting tgwhbb
to follow up on my previous comment about a drift lower...reasoning in weekly TPO chart.
i'm sorry if this OOT

anyone can comment on this...

this is from news terminal IBFX AU

Inserted Code
By Terence Roth 

Of DOW JONES NEWSWIRES 

European Central Bank President Jean-Claude Trichet Thursday indicated 
that the ECB will proceed cautiously after deciding to raise credit 
costs, citing worries that financial market tensions could spill over 
into the economy. 

The ECB earlier Thursday raised its benchmark interest rate to 1.25% 
from an historic low of 1%. 

The widely-anticipated step makes the ECB the first of the world's top 
central banks to begin raising interest rates as their economies recover 
from the 2009 recession. The U.S. Federal Reserve, the Bank of Japan and 
the Bank of England now lag the ECB in reversing low-interest policies. 

We did not decide today that it was the first of a series of interest 
rate increases," Trichet said. "We will continue to do in the future as 
we have done in the past, to take the appropriate decisions for price 
stability." 

Risks to the economy are broadly balanced, with market interest rates 
still at low levels to aid economic growth, he said. 

"Interest rates across the entire spectrum remain low, thus the stance 
of monetary policy remains accommodative," Trichet told a news 
conference. 

The ECB's first rate increase since July 2008 comes in the face of a 
stubborn liquidity crisis among high-debt euro-zone governments. Worries 
persist that aggressive rises in credit costs could stifle economic 
growth and deepen the region's government debt crisis. 

Portugal late Wednesday became the third nation in the 17-country euro 
bloc after Greece and Ireland to ask the European Union for a financial 
bailout. 

The ECB had given financial markets clear warning that the shift was 
coming after Trichet and his colleagues warned of a rising inflation 
threat. Euro-zone consumer prices hit a 29-month high of 2.6% in March, 
and is seen accelerating even further beyond the ECB's 2% target level 
on the back of rising commodity prices. 

The ECB also raised the rates on its marginal lending facility and 
deposit rate by 25 basis points. 

- By Terence.Roth of Dow Jones Newswires; ++44 207 842 9316; 
[email protected] 

Click here to go to Dow Jones NewsPlus, a web front page of today's most 
important business and market news, analysis and commentary: 
http://www.djnewsplus.com/access/al?rnd=YYixk5ISoNPbF4%2BfC9WGEQ%3D%3D. 
You can use this link on the day this article is published and the 
following day. 

(END) Dow Jones Newswires
...
  • #1,708
  • Apr 7, 2011 8:21am Apr 7, 2011 8:21am
Quoting ivonivon
p pattern possibility? we''ll see if 1.4222 holds.
maybe, but too early to tell IMO. I think for a P pattern, the POC needs to be closer to the top...right now it is too far to the bottom of the P. We now have a buying tail, but again, too early to say for sure.

2 scenarios IMO.

1) price moves up out of here and holds around 1.43 level, building value near yesterday's POC and finishing off with a P pattern. Then i remain bullish and look for longs (not sure where yet).

2) prices builds value around 4250, then i look for a pop up to yesterday's POC around 4330 and weakness there as there is currently no selling tail up there either...

Currently today is an inside day, so range action is to be expected until breakout...and the NY is very wide at 65 pips, so i would play the range between NY IB low and NY IB high...but i've fallen behind at work this week due to my trading so will likely stay out for the rest of the day and catch up at work before someone notices
Change is the only constant
  • #1,709
  • Apr 7, 2011 8:28am Apr 7, 2011 8:28am
Quoting frankkn
Thanks for that I've never watched these speeches, very interesting.

Trichet sure can't comment on a lot of topics
hi frank... you disappear again for a while...

glad u back..
...
  • #1,710
  • Apr 7, 2011 8:29am Apr 7, 2011 8:29am
Quoting mzvega
We just touched last weeks high.............
Hell yeah mzvega, previous week's HLC is very important info, thought I was the only one these days lol
  • #1,711
  • Apr 7, 2011 8:33am Apr 7, 2011 8:33am
Quoting tgwhbb
maybe, but too early to tell IMO. I think for a P pattern, the POC needs to be closer to the top...right now it is too far to the bottom of the P. We now have a buying tail, but again, too early to say for sure.

2 scenarios IMO.

1) price moves up out of here and holds around 1.43 level, building value near yesterday's POC and finishing off with a P pattern. Then i remain bullish and look for longs (not sure where yet).

2) prices builds value around 4250, then i look for a pop up to yesterday's POC around 4330 and weakness there as there is...
IN M over M, in estimating a range projection on an iside day or a day that opens inside of value, from the IB side that is likely hold, you add the range of the previous days va to get a "guesstimate" of the days range.
Markets are not efficient, rather they are effective - Jones
  • #1,712
  • Apr 7, 2011 8:37am Apr 7, 2011 8:37am
Quoting bandung
hi frank... you disappear again for a while...

glad u back..
Yep very busy these days, I only get 2 days each week where I'm free during active trading hours, and most of that time is taken up with school work. Today I'm unaware of any assignments for later in the day.

This has been a pretty crazy NY session, no safe entries per my rules so far. My rules are designed to give maybe one or two trades per week that are very high probability, so when I only have a couple days per week my odds of actually seeing my entry materialize are lower than if I had every day.

Is anyone else listening to this speech?

Where do they get these people asking the questions, they keep asking the same stuff again and again and Trichet keeps giving the same couple answers and nobody seems to be listening lol
  • #1,713
  • Apr 7, 2011 8:42am Apr 7, 2011 8:42am
Guys..

this is MPLetter Session...

I uploaded it right here right now...

so if you find something wrong... i can try to fix during weekend..
Attached File(s)
File Type: zip mpletter-session.zip   11 KB | 961 downloads
...
  • #1,714
  • Apr 7, 2011 8:46am Apr 7, 2011 8:46am
Quoting bandung
Guys..

this is MPLetter Session...

I uploaded it right here right now...

so if you find something wrong... i can try to fix during weekend..
Thanks bro...

KG
  • #1,715
  • Apr 7, 2011 8:48am Apr 7, 2011 8:48am
I was thinking about IBs and such. They seem to have been developed for equities, and also from market to market the times even differ.

Does anyone take note of the hi/lo for the US equity open (9:30-10:30) as IB? I know the currency markets open up at 8:00 here, just a thought.
  • #1,716
  • Apr 7, 2011 8:50am Apr 7, 2011 8:50am
Quoting frankkn
Hell yeah mzvega, previous week's HLC is very important info, thought I was the only one these days lol

I get so focused I lose sight of my surroundings I dont always remember them!. I was so glad you started this thread! I am glad you found some time. I love this MP its very easy to see where you are in relation to price at all times. Its really has taken my trading to a whole new level. Again, I thank you for starting this wonderful thread, and Bandung too, his indi. is a beatiful piece of work!
Markets are not efficient, rather they are effective - Jones
  • #1,717
  • Apr 7, 2011 8:53am Apr 7, 2011 8:53am
Quoting bandung
Guys..

this is MPLetter Session...

I uploaded it right here right now...

so if you find something wrong... i can try to fix during weekend..

You are so wonderful, looking forward to testing!!!
Markets are not efficient, rather they are effective - Jones
  • #1,718
  • Apr 7, 2011 8:56am Apr 7, 2011 8:56am
Quoting mzvega
I get so focused I lose sight of my surroundings I dont always remember them!. I was so glad you started this thread! I am glad you found some time. I love this MP its very easy to see where you are in relation to price at all times. Its really has taken my trading to a whole new level. Again, I thank you for starting this wonderful thread, and Bandung too, his indi. is a beatiful piece of work!
The thread would be nothing if it weren't for the exceptional members like yourself
  • #1,719
  • Apr 7, 2011 8:56am Apr 7, 2011 8:56am
Quoting mzvega
You are so wonderful, looking forward to testing!!!
2nd that, Bandung is a champ
  • #1,720
  • Apr 7, 2011 8:59am Apr 7, 2011 8:59am
Quoting frankkn
Yep very busy these days, I only get 2 days each week where I'm free during active trading hours, and most of that time is taken up with school work....
...
...
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