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Merged Profile


Below is the result from a 4 day merged profile as this is where we most recently have consolidated during holiday trade. The Value area high of this merge is 872.50 and the Value area low is 59.50. You may also notice that the 863.50 price has had the most trade through so far. This chart doesn't include today's trading. I think that 59.50 - 63.50 is the area we need to beat for any upside to take hold as we have the Va low and that Volume node. Current overnight high is 73.50 so it was fairly close to the merged VA high of 72.50.

In today's trading we have single prints created to the downside and through that high volume node. I'm skeptical because of the holidays and low volume but as most know we will trend many times after consolidations. I'm not sure if this counts. Anyway it's been fun firing up the old MP software for a change.

To make a long story longer: That 859.50 - 863.50 is the critical zone to watch.




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thanks for the posts lately...great stuff...I think this is a good place to post this link to Chart -x. It's been mentioned on the forum before but this is a good place as it puts volume in perspective...you can compare previous days trading to the week and month....let me know if you have any trouble with this. for those who don't have access to MP or don't have a desire for it you can fire up Chart x for free with your favorite market and find the high and low volume points...


http://www.chart-ex.com/chartex.htm


Bruce
Thanks Bruce for the link it will be helpful as we roll over to ESM9. Yesterday we failed to make it to 734.00. Shortly before 10.45 The OMB turmed negative and it was all over for wanna be bulls.

With the new contract important numbers on the up side are 731.00, 734.00, 737.00 and 740.00. Today's POC is 718.50 other high volume nodes are in the 709.50 and 704.50 areas. The over night high was the POC for today. It will take a high volume break above this 718.50 to get this market moving higher today. It looks like a Taylor SS day but let's not go there - they have their own forum.
my first projection to upside 731.25 / this takes us thru the DVA of yesterday my next is
735.75 742.00 744.50
the projections are for esh9
Bravo to red and dafydd...on your projections. Interesting stuff here.
yes, well done indeed...we had a 50 point range from Monday and Tuesday......so the 50 % mark ( 25 plus 722) hit at 747.....full range will hit at 772....for those using MP projections you can also incorporate the monthly target using the first 5 days of trade....and add those to the break of the 5 day high
I had a +100% projection on the h9 to 751.75 but didn't post it as
I thought with volume droping in the h9 and increasing on the m9
we may not get there today
Thanks for the info Bruce
Nice Red ! You may also notice that we had a naked POC there ( from Volume)and the first line of resistance as per the longer term chart.. ( page 16 of this thread )...nice when they all come together....I've been in non - trading mode for a few days now but it looked like fun...now it seems we need to watch 741 and 732 for potential support....I'm not sure how many will want to buy into 10 day highs of a down trend....so lots of conflicts...plus 1600 $tick the other day and now a plus 1200....I just don't think we have enough power to go much higher before we retrace some...
quote:
Originally posted by redsixspeed

I had a +100% projection on the h9 to 751.75 but didn't post it as
I thought with volume droping in the h9 and increasing on the m9
we may not get there today

Good morning.

I am using Ensign Software's price histogram to replicate the Value Area and POC levels. Thus far, my levels have been within .5 points of the levels that member daytrader posts each day. Great!

However my levels aren't even close to the levels posted for today
(Fri March 13th). I tried sending an email to daytrader, however, as I am a newbie here, I haven't posted enough to qualify and I do not want to clutter his level-posting thread with my question. Can someone post the study mode/time frame settings? Or if there is a rule change after yesterday's movement? Obviously, if someone has an Ensign template that would be best, but I won't get too greedy! :-)

I look forward to contributing in return and I thank everyone in advance for their consideration.
We had a break out up on yesterdays high Volume fed announcement.....now we need to see if we can attract Volume above...my feeling is that they will fail on this breakout and we will get daily closes back below 867.....Sure hope I'm wrong for the longer term players like myself....I'll get a chart later