ES Journal Archive (2006 - 2008)

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Quote from osorico:

Market Profile. 1582 is an intraday POC, confluence with 1581 low value area. If this goose gathers momo to the downside, 1572 would be my first reflection point beyond those MP levels.
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Gotcha, thanks. I take it you mean 1581 is the intraday value area low? I have 1582.50 and 1580, respectively, for those levels, but we're pretty close.

May I ask, do you use TPOs or volume for these levels?
 
Quote from osorico:

Market Profile. 1582 is an intraday POC, confluence with 1581 low value area. If this goose gathers momo to the downside, 1572 would be my first reflection point beyond those MP levels.
More...


Gotcha, thanks. I take it you mean 1581 is the intraday value area low? I have 1582.50 and 1580, respectively, for those levels, but we're pretty close.

May I ask, do you use TPOs or volume for these levels?

EDIT: Actually, another question, if I may....wouldn't you want to see how price acted vis-a-vis the intraday value high (which I have, currently, at 1583.75) before committing to a short? Thanks...
 
Quote from tortoise:

Gotcha, thanks. I take it you mean 1581 is the intraday value area low? I have 1582.50 and 1580, respectively, for those levels, but we're pretty close.

May I ask, do you use TPOs or volume for these levels?

EDIT: Actually, another question, if I may....wouldn't you want to see how price acted vis-a-vis the intraday value high (which I have, currently, at 1583.75) before committing to a short? Thanks...
More...

Yes, I meant value area low. I refer to high and low value areas as LVA and HVA hence my terminology.

I use price for my levels. Volume is misleading imo... a good part of this rally (not just today) has occured on light volume. Equilibrium price is much more important than volume.

As for your comment regarding the HVA action... too pedestrian for this trade, 1 car, 6 tick stop! A touch of the HVA is/was a gimme scalp. My primary instrument is YM. Taking my "front running" skills to other instruments (successfully) makes me happy. :)

Good questions tortoise, I hope I answered them

Osorico :)
 
Quote from osorico:

Market Profile. 1582 is an intraday POC, confluence with 1581 low value area. If this goose gathers momo to the downside, 1572 would be my first reflection point beyond those MP levels.
More...

FWIW; momo has come in... fresh LOD (ie gap fill, full or partial at least) is highly likely imo. :) Keep an eye on DJIA cash.

Osorico :)
 
this is lovely!!!!!!!


+ 4 points today
:D :D :D


and I got home 30 minutes ago. Calling it a day. No need to screw it up now.

Also, new discipline technique: 1 trade per morning and 1 per afternoon. Getting ready for bigger size (10 cars) come January. By only being allowed 2 trades per day,I am hoping to be more selective with my entries and keep the winners longer than I do now.
 
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