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Auction Market Theory and Market Profile

  • #3,921
  • Jan 25, 2012 12:50pm Jan 25, 2012 12:50pm
Quoting Evak

i wonder if now is time for EU nudgin to look above it...
looks like a large area to fill just above...profile is 12 week merge
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Click to Enlarge Name: Screen Shot 2012-01-25 at 1.47.43 PM.png Size: 22 KB
Change is the only constant
  • #3,922
  • Jan 25, 2012 12:53pm Jan 25, 2012 12:53pm
Quoting lordgbengs
Hi guys

Nice work you doing here, still learning the system though, pls i am trying out bandung's ay tpo V1.30 on my alpari and SIG account but the platform crashes every time i open it, please what can i do to make it work, you help will be sincerely appreciated. Thank you.
Not sure where to start as i have not have such problems, perhaps u may need the follow files that can be downloaded here
  • #3,923
  • Jan 25, 2012 2:28pm Jan 25, 2012 2:28pm
Quoting tgwhbb
Since taking the screen shot ES has blown through my 3 resistance levels overhead.
follow up post.

the 1313 level was resistance and now support as indicated in the attached chart. we can see the shakeout at the support level followed by no selling pressure, and price oves up. value building in Monday's excess high at weekly IBH likely signaling acceptance and price should continue to explore higher IMO. Reluctant to set SL too tight at the moment, will likely wait till after asia open.
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Change is the only constant
  • #3,924
  • Jan 25, 2012 4:19pm Jan 25, 2012 4:19pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Evak
My 2nd trade today, I was looking for a response off the HVN (2932) as shown in the merge profile with my secondary reference being the bounce off yesterday low (EU low). Entry was made on the dip back below yesterday's low during B period. There after NY opening reject of UK control helps in this confidence too.

Initial risk was 19p. Expsoure reduce at 76p. Now back to HVN (3027) again or catapult point, i wonder if now is time for EU nudgin to look above it...
i was looking at that and the open rejection&reverse point to a back to balance inventory instead of continuation of london auction. but the view was still confused and the FOMC decision ahead make me not to take the trade, after that when things clarified was unacceptable risk/reward in high volatility. so no trade for me today
  • #3,925
  • Jan 25, 2012 9:49pm Jan 25, 2012 9:49pm
[quote=bandung;5310452]btw if any of you can test it out i share it here, tpochart v1.30. any report about its bugs/errors and how you've got a market view by merging/splitting a profile is appreciated.

i only upload ex4 and dll files,


hi,bandung
thanks a ton for this v1.30 merged n splitted indi,i am still learnig this mp stuff.would you mind explaining on how to put your dll file to mt4?
  • #3,926
  • Jan 26, 2012 12:59am Jan 26, 2012 12:59am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
we auctioned higher but the value was kept lower. we are trending higher and we are in the high vol area on monthly profile. i found yesterday hard to read. ideas?
Attached Image (click to enlarge)
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  • #3,927
  • Jan 26, 2012 2:36am Jan 26, 2012 2:36am
Quoting s7c
we auctioned higher but the value was kept lower. we are trending higher and we are in the high vol area on monthly profile. i found yesterday hard to read. ideas?
Yes'day inventory was neutral but let just see how Uk does to yesterdays high...
  • #3,928
  • Jan 26, 2012 6:34am Jan 26, 2012 6:34am
Quoting s7c
check this in order to get a better idea of what this pattern means: http://www.forexfactory.com/showthre...55#post4815255
do you use investors RT platform?
Thanks for additional reference.
Btw, do you guys have course from Tom Alexander?

http://alexandertrading.com/?page_id=33

I'm using MarketDelta.
Similar to RT, but with additional footprint bar for order flow trading.
  • #3,929
  • Jan 26, 2012 8:15am Jan 26, 2012 8:15am
Quoting Evak
Not sure where to start as i have not have such problems, perhaps u may need the follow files that can be downloaded here

Thank you very much Evak, much appreciated, i hope bandung the master will help me out.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #3,930
  • Jan 26, 2012 8:49am Jan 26, 2012 8:49am
Quoting tgwhbb
follow up post.

the 1313 level was resistance and now support as indicated in the attached chart. we can see the shakeout at the support level followed by no selling pressure, and price oves up. value building in Monday's excess high at weekly IBH likely signaling acceptance and price should continue to explore higher IMO. Reluctant to set SL too tight at the moment, will likely wait till after asia open.
Welcome back bro...nice trade...

Looks like we have a reference test onto the NY afternoon pullback low, during the UK IBR...& now a potential opening test onto control. Overnite inventory is long though...

ES chart:
http://img407.imageshack.us/img407/4...9jan262242.gif

Uploaded with ImageShack.us
  • #3,931
  • Jan 26, 2012 9:11am Jan 26, 2012 9:11am
Quoting tgwhbb
good to see the regulars still posting and some new members as well! Took a break from the forums and trading over the last little while for many factors that made it such that I couldn't focus on trading properly and took some bad trades that hurt...but back to fight again....
I'm still popping in routinely to see the extraordinary work being done in here by many. It's truly great to read and watch this thread thrive. The other day I found myself asking, "where's tgwhbb at these days"? Glad to see you are back. Hope things are in a better place now. Sometimes we forget, but the markets aren't going anywhere soon.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #3,932
  • Jan 26, 2012 11:10am Jan 26, 2012 11:10am
Quoting Evak
Welcome back bro...nice trade...

Looks like we have a reference test onto the NY afternoon pullback low, during the UK IBR...& now a potential opening test onto control. Overnite inventory is long though...
went in long about the time you posted this. Since closed for -1 point, and closed yesterday's long as well. chart currently looking like an excess high at an important level of resistance on strong volume. out of the market for now. Will see where we are at the end of the day. This could potentially be a turning point. IMO 1315 is now key support.
Attached Image (click to enlarge)
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Change is the only constant
  • #3,933
  • Jan 26, 2012 11:16am Jan 26, 2012 11:16am
Quoting HiddenGap
I'm still popping in routinely to see the extraordinary work being done in here by many. It's truly great to read and watch this thread thrive. The other day I found myself asking, "where's tgwhbb at these days"? Glad to see you are back. Hope things are in a better place now. Sometimes we forget, but the markets aren't going anywhere soon.
hey HG! glad to see you are still around. Been going through the VSA thread as well and always read your posts! I'm curious as to you interpretation of my 15M chart I just posted of ES. The top looks like a 2-bar reversal to me.
Change is the only constant
  • #3,934
  • Jan 26, 2012 1:59pm Jan 26, 2012 1:59pm
I am cautious going into NY pit open today as inventory was getting abit too long. Allowing the IBR to settle down after a above average IBR during A period would be a wiser move for me. EU did not hold long during the B period as it look above UK high & retracted. My entry was on the pullback high after the D period with the help of a 5min chart or close to session dval. Inititial risk was 11p. exposure reduce at 3100.

http://img46.imageshack.us/img46/609...4jan270343.gif



12+current week composite illustrates EU respecting the HVN off todays high with interim support indicated on the lower peaks..
http://img210.imageshack.us/img210/7...5jan270358.gif

Uploaded with ImageShack.us
  • #3,935
  • Jan 26, 2012 3:00pm Jan 26, 2012 3:00pm
Quoting tgwhbb
went in long about the time you posted this. Since closed for -1 point, and closed yesterday's long as well. chart currently looking like an excess high at an important level of resistance on strong volume. out of the market for now. Will see where we are at the end of the day. This could potentially be a turning point. IMO 1315 is now key support.
Well, curious what you all think. today's profile started to look like a long liquidation break up till it broke in I period which broke the 1315 support. So would you qualify that as a LLB followed by initiative selling? it looks like yesterday's QE3 news was a trap move. On the flip side, VSA rules make it look like a low volume test of yesterday's news bar...Thoughts?
Attached Image (click to enlarge)
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Change is the only constant
  • #3,936
  • Jan 26, 2012 7:09pm Jan 26, 2012 7:09pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Evak
I am cautious going into NY pit open today as inventory was getting abit too long. Allowing the IBR to settle down after a above average IBR during A period would be a wiser move for me. EU did not hold long during the B period as it look above UK high & retracted.]
i found is very hard to decide the right context. if you add at your analysis the last days the pit session balanced the london session, the short position get an edge.
but if you took NY open as an open auction, which failed to extend the range on the lower side. price being near by middle point from london session in which the auction it failed to continue, we can have the low extreme for the pit sesson established. i got long based on this, i didn't expect a strong move having this low confidence auction.
  • #3,937
  • Jan 26, 2012 7:27pm Jan 26, 2012 7:27pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting tgwhbb
Well, curious what you all think. today's profile started to look like a long liquidation break up till it broke in I period which broke the 1315 support. So would you qualify that as a LLB followed by initiative selling? it looks like yesterday's QE3 news was a trap move. On the flip side, VSA rules make it look like a low volume test of yesterday's news bar...Thoughts?
i don't see that as a test, a shake out formed by 2 bars seems a better classification for me. anyway the up bar has higher vol then the down bar implying hidden sellers, that needs to be tested...i don't find it as a clear opportunity to start a trade
do you trust broco for volume feed? for now i trade just options on SPY, the etf which follows s&p500. but i will want to start trading intraday, if all this trading it will become proficient.
  • #3,938
  • Jan 26, 2012 9:39pm Jan 26, 2012 9:39pm
Here is my analysis for tomorrow. H4 and daily showing sell off. Asia/london will test first the white line in the middle chart or at the most yellow box. Last one is 12 week chart. In summary I would look for area from 1.3125 to 1.3150 to take a trade. Bias on short.

The white line and green line in middle chart, is calculated value of POC (white line using value of M1) and green line is 1sd away from white line. Same as vah but extended for 2 sd and 3sd..
kave ,jimey please share ur thought.
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  • #3,939
  • Jan 26, 2012 11:54pm Jan 26, 2012 11:54pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
i shorted after price got rejected by low volume area from yesterday. seems like now its attracted by the same high volume area as yesterday. if the auction it will continue through LVA i think it will go at least to test the high of the other fat area from yesterday.
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  • #3,940
  • Jan 27, 2012 12:05am Jan 27, 2012 12:05am
Quoting s7c
i found is very hard to decide the right context. if you add at your analysis the last days the pit session balanced the london session, the short position get an edge.
but if you took NY open as an open auction, which failed to extend the range on the lower side. price being near by middle point from london session in which the auction it failed to continue, we can have the low extreme for the pit sesson established. i got long based on this, i didn't expect a strong move having this low confidence auction.
Not sure what u meant by your 1st point though. But u are right to say that since IB extend all the way down the lower side of value, one would concur that a lower extreme could have been establish for the yesterday NY pit, but even so & for the comments that i reply on the ES about the inventory being long need to take precedence over your longs if one choose to take.

Lets look at the follow e.g....

1:UK inventory is long.
2:NY opens below UK control price with an opening test onto UK VAL with responsive.
3: price reverse & auction higher towards UK high
4: There as an opportuinity for entry as price reverted back up to UK POC, u place your entry.

What now? Do you....
A:assume good confidence irregardless of UK inventory
B:reduce your exposure

If your answer is A then under what context do u hold?
IF B: then where would u reduce your exposure...?
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