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Auction Market Theory and Market Profile

  • #4,461
  • Feb 24, 2012 2:29am Feb 24, 2012 2:29am
Quoting Aztrader2
Look @ the post above yours....

The "Real" data for Market profile are those of FX Futures... And Data/Charting systems are all a bit expensive (i.e. Market Delta fee is about 180$ per month) + commissions for each trade as usual for futures....
Market Delta seems to provide many charting tools. I just a need the market profile data, any cheaper company?. So, market profile for FOREX spot doesn't exist? or I'm getting all this wrong?
  • #4,462
  • Feb 24, 2012 3:28am Feb 24, 2012 3:28am
Price hit 3400 or VPOC now. I took this screenie just b4 i close off my yesterday NY entry position & reduce my exposure furthur for the trade i enter on Wed's US. UK have just RE, it could either fail or move up to 3450 perhaps...

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  • #4,463
  • Edited 9:30am Feb 24, 2012 7:41am | Edited 9:30am
closed ES long and EU longs this morning. ES failed to extend beyond WIBH. EU pausing at WIBHx1. Next week i'll look for a test of the break out for re-entry, somewhere around 1.3320.

EDIT: EU pause was at x1 not x2 as originally wrote...i guess i should have held with a stop set just below london low...
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Change is the only constant
  • #4,464
  • Feb 24, 2012 9:16am Feb 24, 2012 9:16am
Quoting lalilo
Market Delta seems to provide many charting tools. I just a need the market profile data, any cheaper company?. So, market profile for FOREX spot doesn't exist? or I'm getting all this wrong?
cheapest one to look clever hxxp://tinyurl.com/7v8n4be
  • #4,465
  • Feb 24, 2012 9:18am Feb 24, 2012 9:18am
Quoting ivonivon
cheapest one to look clever hxxp://tinyurl.com/7v8n4be
thanks but this link is blocked here, so I cannot access it. could you post the original address.
  • #4,466
  • Feb 24, 2012 10:07am Feb 24, 2012 10:07am
Still a poor high in UK; We have an opening drive up with a spike, therefore odds favours a higher price towards 3500 since we have yet to RE.
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  • #4,467
  • Feb 24, 2012 11:00am Feb 24, 2012 11:00am
Quoting Evak
Still a poor high in UK; We have an opening drive up with a spike, therefore odds favours a higher price towards 3500 since we have yet to RE.
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what company (program) are you using?
  • #4,468
  • Feb 24, 2012 11:02am Feb 24, 2012 11:02am
to ponder over the weekend.

A close today above 3420 in EU represents a weekly close in the previous VA (merge of months 3-5/sept.-nov.). 80% rule dictates the upside target around 1.39 (merge VAH). there is also the naked POC above at 3780. thoughts? (obviously longer term view here...).

will need to watch tests of 3420 and possible 3320 for clues.

EDIT:

Now the bearish view. If EU opens on Sunday below 3420, would you consider that a rejection of the previous VA, and hence signaling a rotation downwards, at which point 3320 is the key level to watch.
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Change is the only constant
  • #4,469
  • Feb 24, 2012 11:49am Feb 24, 2012 11:49am
Quoting tgwhbb
Now the bearish view. If EU opens on Sunday below 3420, would you consider that a rejection of the previous VA, and hence signaling a rotation downwards, at which point 3320 is the key...
Sounds good to me since 3320 was a previous swing high too & now a key potential support for any due correction.

Meanwhile note the monthly LUA filled & the rotation back up of this merge towards 3720 control...

Monthly set to 1-5;6-10
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  • #4,470
  • Feb 24, 2012 12:26pm Feb 24, 2012 12:26pm
.
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  • #4,471
  • Feb 25, 2012 4:42pm Feb 25, 2012 4:42pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting tgwhbb
to ponder over the weekend.

A close today above 3420 in EU represents a weekly close in the previous VA (merge of months 3-5/sept.-nov.). 80% rule dictates the upside target around 1.39 (merge VAH). there is also the naked POC above at 3780. thoughts? (obviously longer term view here...).

will need to watch tests of 3420 and possible 3320 for clues.

EDIT:

Now the bearish view. If EU opens on Sunday below 3420, would you consider that a rejection of the previous VA, and hence signaling a rotation downwards, at which point 3320 is...
good insight, it helps...thanks
evak, please check your private msg
  • #4,472
  • Feb 28, 2012 8:44am Feb 28, 2012 8:44am
my trade setup below. I was tempted to short 3450 earlier this morning, but decided not to, and wait for my long setup instead. There are numerous anomalies below which need repair, if price explores higher first, I will short it for an expected return to 3320/3330 area, where my buy limit order is waiting. Anticipate median of this balance area is around the 1.34 figure, as estimated with the fib

daily merge, 1-4;5-19
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Change is the only constant
  • #4,473
  • Feb 28, 2012 1:23pm Feb 28, 2012 1:23pm
Quoting lalilo
Market Delta seems to provide many charting tools. I just a need the market profile data, any cheaper company?. So, market profile for FOREX spot doesn't exist? or I'm getting all this wrong?
Investor R/T is about $75 or so a month, exactly the same code base as market delta, except it doesn't have footprint charts. Best software out there, of course you need good data, like IQFeed if you're going to use volume, otherwise for TPOs only any data will do. Using MT4 and a spot forex data feed, you might as well be throwing darts as far as data accuracy.
  • #4,474
  • Feb 29, 2012 12:30am Feb 29, 2012 12:30am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
i have a question, present Tokyo session has long inventory with both poor low/poor high. auction takes the price above last day value & range, so here comes my question:
how you interpret this? the price is accepted above value, implying a continuation or the market spends too much time at this area so it will ultimately be rejected?
the ability to make the difference between normal time and too much time is priceless...
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  • #4,475
  • Edited 1:07am Feb 29, 2012 12:45am | Edited 1:07am
Quoting s7c
i have a question, present Tokyo session has long inventory with both poor low/poor high. auction takes the price above last day value & range, so here comes my question:
how you interpret this? the price is accepted above value, implying a continuation or the market spends too much time at this area so it will ultimately be rejected?
the ability to make the difference between normal time and too much time is priceless...
Mind over Markets p 71
Open Auction out of range.........then determine how you might apply it to the session profiles......to help shape your analysis. Just as one might use "directional performance data", comparing the IB volume to its average, or to the previous IB volume, along with the basic directional performance analysis, may give you a few more pieces to form an opinion. Hope it helps.
Markets are not efficient, rather they are effective - Jones
  • #4,476
  • Feb 29, 2012 2:37am Feb 29, 2012 2:37am
no lbst
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  • #4,477
  • Feb 29, 2012 2:57am Feb 29, 2012 2:57am
Quoting s7c
i have a question, present Tokyo session has long inventory with both poor low/poor high. auction takes the price above last day value & range, so here comes my question:
how you interpret this? the price is accepted above value, implying a continuation or the market spends too much time at this area so it will ultimately be rejected?
the ability to make the difference between normal time and too much time is priceless...
My inventory is showing short, but then again u have to take it with a pinch of salt as far as TK inventory is concern. I prefer to see both US+TK combine as an overnite to UK...so to speak; in which case i see the inventory about 60% long rather.

TK poor high suggest lack of confidence as it ended lower. The flat tops profile are typical off weak Longs. Then perhaps only a break lower will we see any interest since we have NY shakeout after all..

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  • #4,478
  • Feb 29, 2012 3:10am Feb 29, 2012 3:10am
FYI

http://www.cmegroup.com/education/st...ips-video.html
  • #4,479
  • Feb 29, 2012 6:28am Feb 29, 2012 6:28am
Quoting Evak
FYI

http://www.cmegroup.com/education/st...ips-video.html
thanks kave,
I can't find a real link to its video, so i can save it to my computer, do you?

i only found this link, on google chrome developer tools.. for watching it on full browser page

http://admin.brightcove.com/viewer/u...6001&width=374
...
  • #4,480
  • Feb 29, 2012 9:32am Feb 29, 2012 9:32am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Evak
My inventory is showing short, but then again u have to take it with a pinch of salt as far as TK inventory is concern. I prefer to see both US+TK combine as an overnite to UK...so to speak; in which case i see the inventory about 60% long rather.

TK poor high suggest lack of confidence as it ended lower. The flat tops profile are typical off weak Longs. Then perhaps only a break lower will we see any interest since we have NY shakeout after all..

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i can't set the start of tokyo on TOS platform. it start's automatically after US session so sometimes i forget that and take the whole asia inventory so from there this divergences.
we have a low conviction week, but we have some sorts of shake outs yesterday as today too which at least it should trigger out attention...
mzvega i will analyze your ideas, thanks...
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