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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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last and final add for me was 799.50...heavier....want the 86's..now we wait for bonds...yeech!!7
these channel trader are doing well against my shorts....they need to give up this trendline for me.....as a trade wears on me my targets move up......I want 91.50 to try and clean some of this up..then I'll have grander goals...I hope
quote:
Originally posted by BruceM

these channel trader are doing well against my shorts....they need to give up this trendline for me.....as a trade wears on me my targets move up......I want 91.50 to try and clean some of this up..then I'll have grander goals...I hope



A break below 791.50 will give a 5 minute OBV sell alert.
best fill so far is 86.50.....have three left...will monitor a 94 retest if it happens....like the 78 area and then the initial thrust from 72 but that may be asking too much..sure wish I could hold better
c'mon "air" work your magic!!!
that was a nice head and shoulders on the 3 minute for those into patterns...man am I sloppy today...actual air just got tested on that hit of 80 area........"Air" is an area on a one minute chart that has no price bar overlap from another bar for the day.......usually happens on a quick move away from a zone...and they get tested A LOT!!! Somebody is trying to defend the "air".....cool stuff...always cooler when we have runners on to eliminate the stress
92 area is my stop...if I can't get a retest of 80 on this push
any chance I could convince you to start a thread on OBV DW ? I've read a great article by a great writer but I'm a bit weak at putting it to use so far.....my work with Volume needs more effort on my part
quote:
Originally posted by dafydd

quote:
Originally posted by BruceM

these channel trader are doing well against my shorts....they need to give up this trendline for me.....as a trade wears on me my targets move up......I want 91.50 to try and clean some of this up..then I'll have grander goals...I hope



A break below 791.50 will give a 5 minute OBV sell alert.

full monthly target based on the first 5 days of trading was 781 .....neat spot on the chart today.....other 1/4 points where 796 and then up at 811 if they can get it there sometime this month
One of the areas I keep an eye on in the nite session is the RTH last 15min
candle. The mean is a strong area @ 18:30 tonight we touched and bounced off
FWIW
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