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Auction Market Theory and Market Profile

  • #4,541
  • Mar 6, 2012 9:06pm Mar 6, 2012 9:06pm
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Evak
Yesterday was the test on the upper ledge & now it is filled down to the lower ledge...yummy! we have a nice filled now into the LUA.

Weekly MP set to 1-6 composite..
Attachment
k, so we auctioned below lower ledge and the value area moved lower in this double distribution day with close on lower distribution on good volume so the market is weak. we made lower highs all day and we have both poor lows&highs. how this affects your view?
i see 3 possibilities fro tomorrow:
1-market retrace just enough to facilitate th etrade and get price fair for the sellers(the excess is a good reference);
2-we will have just a daytime frame auctions;
3-market will auction lower and:
a-find long term traders interest being below value on wekly profile and near by last month VAL, add at this the evak's merge profile references;
b-we will start new sellers interest and continue down. the weekly IB just formed is below last week range, so initiative sellers are in the field.

by the way evak, again whats the theory behind spike base in the way you apply it? i looked for some food for thought but didn't find much...as i said my logic sais one the spike is filled it should be not mean anything after, k i get thats the price where one of 'teams' defeated the other one but it's more then that?
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  • #4,542
  • Mar 6, 2012 11:21pm Mar 6, 2012 11:21pm
Quoting s7c

by the way evak, again whats the theory behind spike base in the way you apply it? i looked for some food for thought but didn't find much...as i said my logic sais one the spike is filled it should be not mean anything after, k i get thats the price where one of 'teams' defeated the other one but it's more then that?
Either price is accepted or reject & opening will indicate that. JD's application of the spike base rule was very clear & i am sure u have read it by now. http://jamesdaltontrading.com/blog/glossary/#S

e.g We have a late price probe during UK yesterday & NY pit opens within the spike. Usually indicative of acceptance. & then NY close back into IBR which is positive. Hence we have a test onto NY control when TK opens today....


My application of another form of spike that occur within a distribution (double D) includes what i call gaps. MP provides this spike view which aren't obvious if using candle charts. I only apply to strictly single prints which usualy show price moving to a new range & that spike or gap provides the S/R for future reference. For common trading stategy pls refer to here for a start as my application of it stem from my experience in stocks.

http://stockcharts.com/school/doku.p...ading_strategi

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  • #4,543
  • Mar 7, 2012 12:58am Mar 7, 2012 12:58am
  •  s7c
  • | Joined Mar 2011 | Status: try and fail but don't fail to try | 289 Posts
Quoting Evak
Either price is accepted or reject & opening will indicate that. JD's application of the spike base rule was very clear & i am sure u have read it by now. http://jamesdaltontrading.com/blog/glossary/#S

e.g We have a late price probe during UK yesterday & NY pit opens within the spike. Usually indicative of acceptance. & then NY close back into IBR which is positive. Hence we have a test onto NY control when TK opens today....


My application of another form of spike that occur within a distribution (double D) includes what i call...
thanks. yes, i read the glossary explanation but i was curious of the logic behind it. the gap analogy gives more sense now...
tokyo resembles with a short covering, let's see...
  • #4,544
  • Mar 7, 2012 1:41am Mar 7, 2012 1:41am
Responsive selling at 3rd SD....I might be wrong of course...
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The Market pays you to be disciplined
  • #4,545
  • Mar 7, 2012 3:44am Mar 7, 2012 3:44am
Quoting bandung
if you have any screen shot of MD about it maybe you can pm'ed me, it will help me grasp some ideas.
Sure, I will gather some info over the weekend. Of coz we are talking about up/down tick data. Else it won't be possible to even get the "delta" part so to speak.
  • #4,546
  • Mar 7, 2012 11:21am Mar 7, 2012 11:21am
Quoting Evak
Either price is accepted or reject & opening will indicate that. JD's application of the spike base rule was very clear & i am sure u have read it by now. http://jamesdaltontrading.com/blog/glossary/#S

e.g We have a late price probe during UK yesterday & NY pit opens within the spike. Usually indicative of acceptance. & then NY close back into IBR which is positive. Hence we have a test onto NY control when TK opens today....


My application of another form of spike that occur within a distribution (double D) includes what i call gaps....
1st test on the gap was during UK & now NY shakeout we have another test onto it. C period provide a good spot after the halfback for a long oppotuinity. So now the next reference would be NY pullback low onto yesterdays NY high....

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  • #4,547
  • Mar 7, 2012 9:39pm Mar 7, 2012 9:39pm
Took Trade at 1.3106 ,
Target zone in Violet 1.3190 next 1.3222.
Attached picture. Daily profile Merge from 1 to 14 days.
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  • #4,548
  • Mar 7, 2012 9:48pm Mar 7, 2012 9:48pm
The expectation of the day timeframe reference of a NY afternoon pullback low was realized which was a logical estimate to be right onto previous high of NY.
With NY range established, TK opens with response to it's value & now trades above the spike (gap) base.

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  • #4,549
  • Edited 10:57pm Mar 7, 2012 10:13pm | Edited 10:57pm
@ Evak, Can you please tell me how does your chart looks so stretched out with rowhight of 2, where as my chart with same indi & same rowhight is so compressed with font size "Times New Roman" & Size of 7.
Can you please tell me how to get this solved in ay-TPOChart.v1.20 indi, a possible tweak in the indi.
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If it was easy, everyone would do it.
  • #4,550
  • Mar 7, 2012 10:59pm Mar 7, 2012 10:59pm
Quoting santoshdts
@ Evak, Can you please tell me how does your chart looks so stretched out with rowhight of 2, where as my chart with same indi & same rowhight is so compressed,
Can you please tell me how to get this solved in ay-TPOChart.v1.20 indi, a possible tweak in the indi.
you might try to increse the "zoom" and if you dont like that view use a lower tf chart.......
Markets are not efficient, rather they are effective - Jones
  • #4,551
  • Mar 7, 2012 11:05pm Mar 7, 2012 11:05pm
Quoting mzvega
you might try to increse the "zoom" and if you dont like that view use a lower tf chart.......
Thanks, I tried zoom but it was taking off part of the left screen, but Lower Tfs working good..
If it was easy, everyone would do it.
  • #4,552
  • Mar 7, 2012 11:06pm Mar 7, 2012 11:06pm
Quoting santoshdts
@ Evak, Can you please tell me how does your chart looks so stretched out with rowhight of 2, where as my chart with same indi & same rowhight is so compressed with font size "Times New Roman" & Size of 7.
Can you please tell me how to get this solved in ay-TPOChart.v1.20 indi, a possible tweak in the indi.
Press F8 to get into the properties screen & just enable "Scale fix". Then u can manually adjust the vertical scale by dragging it on the right edge to your hearts desire...

Once Scale fix is enable switching timeframe would not affect the chart display as it essentially turn OFF auto scale/sizing...kapish?
  • #4,553
  • Mar 7, 2012 11:22pm Mar 7, 2012 11:22pm
Quoting Evak
Press F8 to get into the properties screen & just enable "Scale fix". Then u can manually adjust the vertical scale by dragging it on the right edge to your hearts desire...

Once Scale fix is enable switching timeframe would not affect the chart display as it essentially turn OFF auto scale/sizing...kapish?
Thanks for the reply, its working fine..

regards
If it was easy, everyone would do it.
  • #4,554
  • Mar 8, 2012 1:19am Mar 8, 2012 1:19am
Quoting Evak
Sure, I will gather some info over the weekend. Of coz we are talking about up/down tick data. Else it won't be possible to even get the "delta" part so to speak.
ah.. thanks man..
we need tick recorder
http://www.walmartworkforce.org/wp-c...e-recorder.jpg
...
  • #4,555
  • Mar 8, 2012 1:40am Mar 8, 2012 1:40am
Quoting bandung
ah.. thanks man..
we need tick recorder
I remember this one...
The Market pays you to be disciplined
  • #4,556
  • Mar 8, 2012 1:43am Mar 8, 2012 1:43am
Price controlled...maybe comes to initiative selling...I don't know...
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The Market pays you to be disciplined
  • #4,557
  • Mar 8, 2012 3:40am Mar 8, 2012 3:40am
Hi Bandung,
I noticed some differences between indis

In my image, I have TPO chart sessions 100b (chart bottom left)
and Ay TPO chart 1.31 set @ London Open as start of the day (chart upper left).
As you can see (Red Squares), ver 1.31 printed 3 C letters, but the other version printed just 2 C letters.... What is the right one?

Btw, I'm still not able to split sessions with 1.31b... :nerd: I tried mpss 0, 1 etc... but it doesn't works...

Thanks!
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  • #4,558
  • Mar 8, 2012 3:45am Mar 8, 2012 3:45am
Quoting mima
Price controlled...maybe comes to initiative selling...I don't know...
Was just reading your post... then looked to the charts and saw.... Powerful Initiative Buying
Actually it seems to develop as a "real" trend day (or UK session....)

Ohhh my God.... we never stop learning.......
  • #4,559
  • Mar 8, 2012 4:06am Mar 8, 2012 4:06am
Quoting Aztrader2
...
Ohhh my God.... we never stop learning.......
Yes, ...and I said "maybe": ....then all of sudden market got hope on greek deal so went another way...
The Market pays you to be disciplined
  • #4,560
  • Mar 8, 2012 5:37am Mar 8, 2012 5:37am
Quoting Evak
The expectation of the day timeframe reference of a NY afternoon pullback low was realized which was a logical estimate to be right onto previous high of NY.
With NY range established, TK opens with response to it's value & now trades above the spike (gap) base.

Attachment
After yesterday's high, TK test onto the previous spike base now acting as support during the "I" period - after a bit of rotation (also an anomaly here), provided another opportuinity; a go no go situation here. Choice was to go with the trade then. UK opening revisit the anomaly before taking off.

Weekly merge of 1-6 would indicate a rotation back into the upper ledge..

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