I used to be an instructor and market analyst for IOAMT. I'd be happy to answer what I can for you.
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Trading with Market Profile
- Thread starter They
- Start date
I was wondering what time frame your chart ends for the Emini S&P as It is showing a closing price for today of 1209 but I have it closing at 4:15 ET at 1203...perhaps you could help me out here.......I was also wondering if the floor traders are using Volume Market Profile or just really looking at the high/low volume numbers themselves......and disregarding the 68 - 70 % Value area numbers...thanks...great stuff
Bruce
Bruce
That last post was Directed to you , Lisa and the data on the Chart -x site....thanks....
Quote from bundlemaker:
I used to be an instructor and market analyst for IOAMT. I'd be happy to answer what I can for you.
Hi bundlemaker,
Last month on ES, we broke through 2 previous instances of Institutional Capping. We pushed below Institutional Capping on Katrina Hurricane and we pushed below Institutional Capping on London Terror Attack.
We seemed to made a near term bottom in October but I did not see anymore sign of Institutional Capping buying last month.
Was there a Institutional Capping buying in October that I missed seeing ?
Thx
Personally, I don't pay attention to "instutional capping". While it does, often, portend very short term support and resistance, that's about it.
The reason the levels you mention were broke is very simple: the market is at longer term supply levels. As any market reaches price levels representing significantly overwhelming supply, shorter term support levels will fail over and again.
Now, if I were day trading (which I no longer do) I'd consider using the "institutional" levels, but only on trades aligned with longer term supply or demand.
Edit: Winsum, what day in particular are you questioning in October? I"ll look and see what I can tell you.
The reason the levels you mention were broke is very simple: the market is at longer term supply levels. As any market reaches price levels representing significantly overwhelming supply, shorter term support levels will fail over and again.
Now, if I were day trading (which I no longer do) I'd consider using the "institutional" levels, but only on trades aligned with longer term supply or demand.
Edit: Winsum, what day in particular are you questioning in October? I"ll look and see what I can tell you.
Quote from WinSum:
bundlemaker,
October 13 and 19th.
Also, lately the daily range on ES has been expanding. Do you see any significance with this ?
TIA
I figured you'd mention those two days. On both occaisions, longer term demand came into play. I refer to supply and demand in a strict sense, but use a simple, but proprietary method for determing the levels (ie. not really volume profiling but a close enough surrogate, and there's more to it than just volume at price, if you're in Bills room, I don't do it how he does)
The market has a single fundamental behaviour- balance to imbalance and back. This applies to volatility also. The underlying cause (not really a cause, more like a scenario) for increasing volatility is a widening gap between various supply and demand levels.
Hope this helps
Our charts are updated as soon as the CMEâs data is available; unfortunately it is early next morning. We get the CBOTâs data at 6:00p.m. CST. The data table under the charts specify the dates.
Look at yesterdays VP around the close, it confirms the resistance the market is having, so far. Also I like the VP around yesterdays low and the previous days closing price. It confirms a standard bar charts support and resistance points.
Look at yesterdays VP around the close, it confirms the resistance the market is having, so far. Also I like the VP around yesterdays low and the previous days closing price. It confirms a standard bar charts support and resistance points.
TS does not have a true market profile. They do offer a "price distribution" indicator. IMHO, it's not very useful. There are some 3rd party app's that allow true volume profiling and market profile.