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Trading using Market Profile

  • #81
  • Dec 7, 2016 8:59pm Dec 7, 2016 8:59pm
If after the open the low is formed first then price will go up. This happens all the time.
  • #82
  • Dec 7, 2016 9:01pm Dec 7, 2016 9:01pm
Quoting eaglefaith7
You need to go in the properties of the indicator and turn off everything except the Daily High and Daily low.
OK done, here's what we look like now.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 316 KB
  • #83
  • Dec 7, 2016 9:01pm Dec 7, 2016 9:01pm
Here is another look at the open where the green arrow is price went down and formed the low first then price went up.
Attached Image (click to enlarge)
Click to Enlarge Name: Eample II.png Size: 161 KB
  • #84
  • Dec 7, 2016 9:02pm Dec 7, 2016 9:02pm
Quoting eaglefaith7
If after the open the low is formed first then price will go up. This happens all the time.
But we don't know how low the low will be.
  • #85
  • Dec 7, 2016 9:03pm Dec 7, 2016 9:03pm
That is where your Market Profile skills come into play to help you not be to greedy.
  • #86
  • Dec 7, 2016 9:05pm Dec 7, 2016 9:05pm
Quoting eaglefaith7
That is where your Market Profile skills come into play to help you not be to greedy.
This is a quote from "Windotrader" that I was reading tonight, but it is a well-supported viewpoint even within the Market Profile community:

"The Market Profile is not a trading system; it does not tell you where you should buy or sell the market, enter or exit the market, or specifically tell you if the market is overbought or oversold."
  • #87
  • Dec 7, 2016 9:06pm Dec 7, 2016 9:06pm
Sorry got ahead of myself. The low for the day has been formed. Once price begins to push up it is highly unlikely it will come back and push the low down any further. There may be a pull back. Then price will push up.
  • #88
  • Dec 7, 2016 9:09pm Dec 7, 2016 9:09pm
You will have to test and get use to the indicator. It took me a little while to understand what it was doing.
  • #89
  • Dec 7, 2016 9:13pm Dec 7, 2016 9:13pm
If you put that indicator on all your charts you can look at what price has done. You will need to drop down to a 1 minute or 5 minute chart to see what has been formed first.
  • #90
  • Dec 7, 2016 9:15pm Dec 7, 2016 9:15pm
Every currency pair pretty much stays in there range once the Daily high and low have been formed.
  • #91
  • Dec 7, 2016 9:28pm Dec 7, 2016 9:28pm
Quoting eaglefaith7
Every currency pair pretty much stays in there range once the Daily high and low have been formed.
I can see that very thing on this day for sure:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 304 KB
  • #92
  • Dec 7, 2016 10:38pm Dec 7, 2016 10:38pm
vid about market profile and using light trading zones/pockets for TP targets as the market often goes back to fill them

http://www.cmegroup.com/education/in...t-profile.html
  • #93
  • Dec 7, 2016 11:05pm Dec 7, 2016 11:05pm
Quoting kraven
vid about market profile and using light trading zones/pockets for TP targets as the market often goes back to fill them http://www.cmegroup.com/education/in...t-profile.html
I don't think she's trading using Market Profile anymore. I contacted them awhile back and asked to be notified of any more seminars, and they said they'd put me on a list to be notified "if she continues with this method and has another seminar." I've never been notified, and that was several years ago.
  • #94
  • Dec 7, 2016 11:20pm Dec 7, 2016 11:20pm
Quoting eaglefaith7
If you put that indicator on all your charts you can look at what price has done. You will need to drop down to a 1 minute or 5 minute chart to see what has been formed first.
This picture is of the market open; the indicator is showing the market made a low, followed very shortly after by a high. Not sure what good this information is.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 283 KB
  • #95
  • Dec 8, 2016 5:15am Dec 8, 2016 5:15am
Quoting Dreamliner
{quote} This picture is of the market open; the indicator is showing the market made a low, followed very shortly after by a high. Not sure what good this information is. {image}
Surely all this is dependent on the time your of your brokers daily open time.
  • #96
  • Dec 8, 2016 5:20am Dec 8, 2016 5:20am
Quoting Dreamliner
{quote} I don't think she's trading using Market Profile anymore. I contacted them awhile back and asked to be notified of any more seminars, and they said they'd put me on a list to be notified "if she continues with this method and has another seminar." I've never been notified, and that was several years ago.
maybe she mad it rich and retired
  • #97
  • Dec 8, 2016 9:07am Dec 8, 2016 9:07am
Quoting kraven
{quote} maybe she mad it rich and retired
Haha...I'm thinking she discovered what most people do when trading market profile: it frames the market well, but provides no real edge as to trading it.
  • #98
  • Dec 8, 2016 10:47am Dec 8, 2016 10:47am
Quoting kraven
{quote} Surely all this is dependent on the time your of your brokers daily open time.
Actually not, as the indicator will paint today's low at a one pip drop from the open, and the high at a one pip increase from the open. So initially you start out with a tiny box, the high and the low, and of course then the box widens as the market makes either new highs or new lows.

This would happen any time you chose for the market "open."
  • #99
  • Dec 8, 2016 1:17pm Dec 8, 2016 1:17pm
what i'm saying is dependent on what time your brokers day starts will show different highs/lows pullbacks

in the pictures if my brokers day started at the thick blue line my high is different to the one original one and may not incur a pullback like the one the picture

Attached Image (click to enlarge)
Click to Enlarge Name: Eample II.png Size: 169 KB
  • #100
  • Dec 8, 2016 1:19pm Dec 8, 2016 1:19pm
Quoting kraven
what i'm saying is dependent on what time your brokers day starts will show different highs/lows pullbacks in the pictures if my brokers day started at the thick blue line my high is different to the one original one and may not incur a pullback like the one the picture {image}
That's certainly true, but does not negate the point that the Hi/Lo indicator forms the day's high/lo immediately after the market "opens."
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