ES Journal Archive (2006 - 2008)

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Quote from ammo:

mandelbrot, how much do u pay for that chart setup with mp and barcharts sise by side, thats a great source of info
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I use Quote Tracker, it costs $60-$70 per year.

Lots of other services will charge you $100+ per month for the same thing, so it's a deal ... but you still have to study and get used to using Market Profile if you want to use it.

I like it because it finally gave me a sensible reason of why I need to look at volume when trading, instead of just analyzing price action.

It's really just a histogram of volume by price, which means that it makes even more sense from a technical perspective.

Good trading.
 
Mandelbrort, thanks,notice gap from 53 down to 47 that didnt trade on fri,we went down and filled it , also notice small ledge at 39 from fri, if we sell off a little after 1 pm we should find some support there,and then the black bar at 32 also support, great tool for scalping ,i 'll try to get that service i used to handchart this when the daily range was under 5 pts and it traded in nickels, was an unbelievable trading tool, now with daily range at 30 pts ,its much harder to use,
 
Quote from BoyBrutus:

You can also check out

http://www.enthios.com/blogs/esblog.htm

and this guy subq posts free charts at the beginning of every day, click on a link to support him

http://www.charthub.com/chart/search/mpchart

yw
BB
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Those are great links BB.

In the first one it shows how the trader looks at the MP on the larger time-frame and scalps on the lower time frame based on his analysis of the larger time-frame (sound familiar). :D

If you scroll down you will see how he anticipated a lower drop for last friday, but it didn't happen because volume to the downside became anemic after two consecutive down days, and there was a reversal.

That's one of the best things that MP is good for, spotting those potential reversals ... support and resistance are made on low volume (lack of sellers establishes support / lack of buyers establishes resistance).

Thanks

P.S. I'm looking for further downside in price as of right now, there's moderate support @ 1352, let's see what happens when/if it hits.
 
Quote from MandelbrotSet:

P.S. I'm looking for further downside in price as of right now, there's moderate support @ 1352, let's see what happens when/if it hits.
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OK, that's done and I have to run some errands.

Attending the NY Traders Expo really opened my eyes to the effect that being around good traders can have on your skill level. It really helps a lot (it's also pretty easy to spot the charlatans too). :p

Putting in the extra time and money to get more knowledge ain't necessarily a bad thing.

Good Luck
 
I'm currently looking for a re-test of the 1347.00-1350.00 level and a turnaround of the current intraday downswing from there.

Had the 1347-1350 area charted Sunday already as the primary support for today if price should get there, but decided today not to put blind orders in due to not being able to see the screens most of the day.

In retrospect the zone worked almost perfectly and the 16+ pts surge from the bottom of the zone seems unreal to me... But this sideways action is a bit uncomfortable (fuzzier probabilities and a less explored market environment) for me personally, so I'm taking it conservatively so far.

Still I see Friday's move of almost 30 points surge in less than 60 minutes as an important pattern for the near future (the next month). We should have stayed below 1340 friday, so they could bring us back down to near the 1250 lows and then release a strong move up from there. I'm not bullish nor bearish at this point, but weighing the patterns and the psychology behind it, I'd sure like to see a good rally to at least the 1430, possibly 1450 area and then the bloodbath along with new lows below 1200 can happen. Just considering the triggers of market psychology, that is..
 
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