Understanding the market with Market Profile- A discretionary approach

CV sir,
Thanks for giving direction what and where to look at for understanding the market structure, ..it speaks thousand words.

Thanks for the invitation saint sir, pleasure is mine, really looking forward to meet...i really hope i make it before Shishir leave the town again
Also requesting in ur free time please add some inputs -how you evaluate when u see the market shaping up through out the day, what is thought process ? i still amaze when i see those posts of reversals.

Yes Dumdum it sure has the resistance nature ..here posting hourly NF chart with weekly MP for guidance

we can see that profile started elongating as prices moving up, now profile starting to curve and making 'P' ( early time to conclude this, need to watch it carefully ) which indicates bulls getting tired/absence of fresh buyers.

Alex does that indicate that a new POC is being formed??? or there is a chance for us to slip back to the previous POC??

alex,
what is this "VWAP" in your chart?

waiting for you bro.

kamlesh dont get confuse, this weekly poc formed way before todays chart, it just plot in background combining last 5 days profile in one, so no new weekly poc formed,

dumdum,
vwap is volume weighted average price, price at which majority of the volume taken place, basically this been used by institutions who want to buy/sell security at given price but their high volume moves the price so they break their trades..but concept has not been restricted to institutions and we can use it in MP

Taking hint from CV sir on buying tail and distribution, trying to look at the market this way...

first the good pic which beautifully explains responsive and initiative buying, important concepts in MP

Live example of Nifty Futures through the eye of market profile

In MP reference of y.day is important ..This is what happened on different set of conditions... plz go through prev post where i posted weekly MP...looking at market we must consider longer time frame first, then shorter so we get the clear picture.... when profile is flat or wide, some times balanced as it was 1 day before y.day..usually longer time frames comes in and participate ( longer remain in one time frame more time frame participates )because they see the value..next day what happened..price open below poc of y.day lonegr time frame saw the value and prices pushed upwards..but profile was unsymmetrical that mostly suggests short covering.. consider the fact that weekly profile tilted towards bulls, so risk reward in favor of longs...now today ..market open above y.day poc..weekly mp bullish, no shorts..market moving up..but see the vol which is less than y day ..and market hit weekly poc and sold off at day close..same structure but when we see through longer time frame picture gets clear ..

Great going Alex. You have explained it really well.