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Auction Market Theory and Market Profile

  • #3,781
  • Edited 11:05am Dec 5, 2011 10:54am | Edited 11:05am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
i looked into short after the market failed to auction higher after the pit session open but waited for more confimation, which came after market failed to extent up the NY IB. i entered after the TPO nr 6 took the low of the TPO nr 5, moved which coincided with the confirmed ND from 5 min chart...but it seems a lack of conviction and we got buyers again after we extended the range lower...i'm still in for now
edit: i'm a day trader with some short time influences based on JD's second book so i will act as one...
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  • #3,782
  • Dec 5, 2011 11:06pm Dec 5, 2011 11:06pm
SDs at S/D levels of MMP on H1...
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The Market pays you to be disciplined
  • #3,783
  • Dec 6, 2011 12:01am Dec 6, 2011 12:01am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
market auctioned in asia below previous day low or below previous session low, depending haw you set your profile, but didn't attract new activity causing the market to enter in balance, price being accepted at that level and it didn't trigger other time frames into going long so not being an interest from buyers the market will auction lower, right?
so, everything points lower... but JD said in first book: "If a market is not successful auctioning in one direction over time, control may reverse as the market seeks to facilitate trade in the opposite direction. If the market spends too much time at a given level, price will ultimately be rejected. The ability to identify the difference between enough time and too much time is the key to anticipating a change in control."
so, doing an analogy with our situation, it means what? we are trading the breached of the bracket or we are keeping the idea of getting a good place to short? we could have some responsive long term buyers, being near by last weeks VAL but we had an inside day on lower vol and the VA was kept lower so we still favor the sellers for now or not? i'm kind of confused
  • #3,784
  • Dec 6, 2011 12:20am Dec 6, 2011 12:20am
In some point in time somewhere in the world some news will tip the price up or down from current position...until then pills for patience might help...
The Market pays you to be disciplined
  • #3,785
  • Dec 6, 2011 1:16am Dec 6, 2011 1:16am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting s7c
market auctioned in asia below previous day low or below previous session low, depending haw you set your profile, but didn't attract new activity causing the market to enter in balance, price being accepted at that level and it didn't trigger other time frames into going long so not being an interest from buyers the market will auction lower, right?
so, everything points lower... but JD said in first book: "If a market is not successful auctioning in one direction over time, control may reverse as the market seeks to facilitate trade in the...
i entered short at 1.3375, my entry was triggered by VSA reasons...
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  • #3,786
  • Dec 6, 2011 12:29pm Dec 6, 2011 12:29pm
SDs at S/D levels of MMP on H1...
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Click to Enlarge Name: ad-1.jpg Size: 107 KB
The Market pays you to be disciplined
  • #3,787
  • Dec 6, 2011 9:58pm Dec 6, 2011 9:58pm
I have a long position held since 3276. I have been eyeing the last month LUAs & watching the the lower LUA being filled, as we speak, as it now rotating back up to control as it balance; slowing edging back into range...

Next could be the attack on the upper LUA. If it ever takes out this month's high to 3760?

What's your take Bil?...

http://img248.imageshack.us/img248/8...6dec071149.gif

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  • #3,788
  • Dec 6, 2011 10:43pm Dec 6, 2011 10:43pm
Interesting to note that we have responsive prior to pit open of both UK & US session yesterday that leads to strong initiatives, if any one didn;t notice....

http://img408.imageshack.us/img408/9...7dec071235.gif
  • #3,789
  • Edited 10:27pm Dec 7, 2011 12:05am | Edited 10:27pm
Laying in bed on the iPad right now, lol. Bout to pass out, zzzzz. Evak, I had mentioned the same thing to a fellow forum goer via Facebook. I'm looking for a higher auction but not enough to take out last months high. This market is very reactionary to news so all it could take is one press release to dash any forecasts in the wind. Sorry for short, ambiguous post. Its hard to type with one finger while my wife is sleeping, lol.
  • #3,790
  • Edited 2:03am Dec 7, 2011 1:51am | Edited 2:03am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
1-in order to auction up on such a long term didn't we suppose to get first a tail into an important reference point?
2-last London session made both lower low and lower high the previous/NY session made a lower high and on the initiative move you pointed the volume is descending...so it's not more probable just to be a auction rotation in order to continue lower? the value area was lower, adding to this...
thank's evak for sharing your ideas, i'm eager to get other views being confused at the moment. i keep raising questions some maybe silly, some not...but both are following the main idea, which is to clarify the view.
edit: i got into a short after frankfurt open rejection and reverse into london's session high from monday. i'm not sure of the amplitude of the move so i will have as target the yesterday close for now/the stop is split in half above the frankfurt TPOs
  • #3,791
  • Dec 7, 2011 8:05pm Dec 7, 2011 8:05pm
Quoting mima
EU Monthly MP
Hello Mima,

I'm looking for a copy of the indicator you use on this thread. Would really appreciate if you could share it or advise where to find it please? It looks like the Murrey Math Line - just wondering if it is?

(Im new to this site so not sure where I'll find your response! - can you email me?)

Thanks so much!
  • #3,792
  • Dec 8, 2011 1:11am Dec 8, 2011 1:11am
Quoting looking99
... It looks like the Murrey Math Line - just wondering if it is?...
Indicator is here:

http://www.traderslaboratory.com/for...-platform.html
The Market pays you to be disciplined
  • #3,793
  • Dec 8, 2011 2:29pm Dec 8, 2011 2:29pm
SDs at S/D levels of MMP on H1...
Attached Image (click to enlarge)
Click to Enlarge Name: ad-1.jpg Size: 109 KB
The Market pays you to be disciplined
  • #3,794
  • Dec 9, 2011 3:45am Dec 9, 2011 3:45am
Anticipating a inventory adjustment for this UK trade. With US Neutral & the expectation that TK would follow within range. My reference then is the US low, with upper reference to previous UK POC.

Entry was on UK open with prior responsive activities onto US low provided the queue.
Intial risk was 17p, exposure reduce at 31.

Current developement within the UK profile should provide a seconday opportuinity or TL on DVAL or pullback assuming 95% rule..

http://img210.imageshack.us/img210/7...2dec091744.jpg
  • #3,795
  • Dec 9, 2011 9:03am Dec 9, 2011 9:03am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Evak
Anticipating a inventory adjustment for this UK trade. With US Neutral & the expectation that TK would follow within range. My reference then is the US low, with upper reference to previous UK POC.

Entry was on UK open with prior responsive activities onto US low provided the queue.
Intial risk was 17p, exposure reduce at 31.

Current developement within the UK profile should provide a seconday opportuinity or TL on DVAL or pullback assuming 95% rule..

http://img210.imageshack.us/img210/7...2dec091744.jpg...
i was long, after i saw frankfurt failed to auction below previous US low session but i exited manually when i saw the next TPO fills almost the tail, adding at this all the incertitude coming from europe...
i just got now into another long after pit session open. the opening was in open drive like london did and previous TPO tested the london low and the open was just at yesterday's NY POC.
hopefully it would get better this time...

PS. feel free to comment every post i made, in fact i insist that's the reason i post to learn something and get better...
  • #3,796
  • Dec 9, 2011 9:20am Dec 9, 2011 9:20am
Quoting s7c
i was long, after i saw frankfurt failed to auction below previous US low session but i exited manually when i saw the next TPO fills almost the tail, adding at this all the incertitude coming from europe...
i just got now into another long after pit session open. the opening was in open drive like london did and previous TPO tested the london low and the open was just at yesterday's NY POC.
hopefully it would get better this time...

PS. feel free to comment every post i made, in fact i insist that's the reason i post to learn something...
yes similar setup but onto a pullback low of previous inertia price move. I close my earlier trade at previous Asia high on auto. Manage to return home just prior to NY pit to enter this trade opportunitiy like u did.

We have a move away from TK/UK balance now. Yet to see if any range extension is gona hold. Anyway my exposure for this trade is reduce at 45p. Initial risk was 15p. Next will have to see how it hold onto the NY DVAL.

http://img208.imageshack.us/img208/5...2dec092312.gif

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  • #3,797
  • Dec 9, 2011 11:37pm Dec 9, 2011 11:37pm
Quoting Evak
yes similar setup but onto a pullback low of previous inertia price move. I close my earlier trade at previous Asia high on auto. Manage to return home just prior to NY pit to enter this trade opportunitiy like u did.

We have a move away from TK/UK balance now. Yet to see if any range extension is gona hold. Anyway my exposure for this trade is reduce at 45p. Initial risk was 15p. Next will have to see how it hold onto the NY DVAL.

http://img208.imageshack.us/img208/5...2dec092312.gif

Uploaded...

can you till me how did you get a market profile chart in metatrader ???
  • #3,798
  • Dec 11, 2011 5:47pm Dec 11, 2011 5:47pm
Some food for thought;
Commercial speculators are net long the Euro at the highest levels since the pair traded near 1.20
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  • #3,799
  • Dec 11, 2011 10:45pm Dec 11, 2011 10:45pm
Quoting zelenko
can you till me how did you get a market profile chart in metatrader ???
http://eyesfx.web44.net/2011/10/mark...icator-update/
  • #3,800
  • Dec 11, 2011 10:49pm Dec 11, 2011 10:49pm
Quoting Bilstein
Some food for thought;
Commercial speculators are net long the Euro at the highest levels since the pair traded near 1.20
Interesting though as i was looking at this chart 2 weeks ago too. Notice the saturation point now...
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