Understanding the market with Market Profile- A discretionary approach

[sudoku1]

Alex,
im in hurry to go work,
i will post some thing usefull for u ( emm.. every one) after a while or tonight.

cheers for tonight !!!

http://seekingalpha.com/uploads/2009/2/24/booze_sales.jpg

 

[orderflow13]

MP gives indications of profit booking of longs might happen here,as market hitting prev day POC ..

 

[darsh_goswami]

Well,
First of all Congrates to Alex for thinking something innovative.

I have decided not to post anything over here after all what happened in the thread 'Request to Jesse' but today afternoon one of my friend has brought into my notice that u have started a thread regarding MarketProfiles. And I had to post something which can be helpful to someone.

As I've mentioned somewhere in this forum, MarketProfile is not an indicator itself. But the best reference source one can have as its MARKET GENERATED INFO.

It can be merged with ur own techniques and it can give u an edge in trading. Here i m posting the chart how it goes. If one uses his indicators near major MP levels, it can be benificial to find out quick reversals / continuetion of trend.

As Jesse says, He doesnt like when someone says you cant pick top/bottom. Thanx to the pioneer Sir Jesse.

Cheers ,
In hope , people will try to explore new techniques and be supportive.

Darsh

 

[ThE HaMmEr]

alex can u help me out to setup MP in MS ??

 

[orderflow13]

Thank you Darsh, hope to see you often and share your views..was oblivious to such thread, saw it today seems mess been cleared, anyway... Jess sir would be available at MP social group whenever he gets free time,
Friends i am getting queries about MP afl .. afl i use are available on segul's thread, please go through each page of it, and go through the links segul provided, very educative, it will cover most of the basics of MP, here we will mostly focus on market framework under the lens of market profile. cheers..http://www.traderji.com/equities/24897-flow-method-market-profile.html..
Neeraj, sorry friend i am not an expert in metastock, also am not tech savvy person, just few stuff here and there.ur query will be mostly address on software section.

 

[orderflow13]

Today, at 3 pm it was a single print buying ( in MP it looks like narrow shape ) with not much volume to support with, which establish the fact that market didnt not giving confidence to show that its successfully closed in prev point of control , thats the difference in MP, MP focus on not only price but quality of price where volume factor comes in.
Last move was totally attributed to this months derivatives expiry.

 

[milind]

Today, at 3 pm it was a single print buying ( in MP it looks like narrow shape ) with not much volume to support with, which establish the fact that market didnt not giving confidence to show that its successfully closed in prev point of control , thats the difference in MP, MP focus on not only price but quality of price where volume factor comes in.
Last move was totally attributed to this months derivatives expiry.

I just saw a 1m chart by Kamlesh on another thread. It looks like there was a lot more volume concentrated in last half hour - yes, it would be related to expiry. So a volume profile picture may tell slightly different story for today. I have heard mostly MP being talked about - is there any merit to volume profile?

-- Milind

 

[dumdum20008]

Alex , this is for ur weekend..

Propeled with facination of MP, i googled info on that and beside MP i got stuck with a littile new concept in trading namely "j-charts", which is very similar in looks with MP but different in construction and interpretation.
Idea behind J-charts and its rules of interpretation can be usefull for MP reader also. So have a look-n-read of these

http:// www. investopedia. com/articles/technical/04/060204.asp


http:// www. j-chart. com/

and one more

http:// www. asx. com.au/research/charting/library/j_charts.htm

[I thought to plot on real chart paper by tick data of NF, but i gave up on no. of tick data, perhaps some hidden guru on tj be already using j-charts with e-signal]

 

[orderflow13]

I just saw a 1m chart by Kamlesh on another thread. It looks like there was a lot more volume concentrated in last half hour - yes, it would be related to expiry. So a volume profile picture may tell slightly different story for today. I have heard mostly MP being talked about - is there any merit to volume profile?

-- Milind

Milind,
I am not the master of Market Profile, i am on learning path as well , so giving answers from my side would be inappropriate, as i found volume concept is very deep..as long as volume is considered in MP, Market Profile cant be completed its complete package, how we use the volume is different approach, heard CV sir use it in foot prints( want to learn more on that part )...found lot of volume dedicated posts and thread on various other forums on net... i mostly rely on open interest of option market as i knew that concept much better than other volume concepts..its everybodys comfort level.
Alex
hope your answer will get by other more experienced members of MP

 

[orderflow13]

Alex , this is for ur weekend..

Propeled with facination of MP, i googled info on that and beside MP i got stuck with a littile new concept in trading namely "j-charts", which is very similar in looks with MP but different in construction and interpretation.
Idea behind J-charts and its rules of interpretation can be usefull for MP reader also. So have a look-n-read of these

http:// www. investopedia. com/articles/technical/04/060204.asp


http:// www. j-chart. com/

[I thought to plot on real chart paper by tick data of NF, but i gave up on no. of tick data, perhaps some hidden guru on tj be already using j-charts with e-signal]

thanks dumdum, was about to pm u for reminder ... will go through on this weekend,
regards
Alex