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ES 4-7-11


ghost town today..starting short s at 34.50..Volume spike.....into old VPOC...33 is inititial target
Yo, Bruce,
this is something I talked about (I don't remember when, a year ago), when there is a big break, especially one that displays bars similar to your "air", like we had today (RE: 5m bar starting 10:35 ending 10:40) there is nothing (relatively speaking) in terms of price traffic on the descent

I mark the open of those bars.

I used to call them "Breaker Bars" (can also be viewed on daily, but not used for intraday trading)

The Breaker Bar, is the big bar that breaks through support (or resist) and is big, like wider than any of the prior 7 or 8 bars.

For some reason (If I knew why, I really would be retired), price often revisits the Open of the Breaker bar.
Like your "air" (it may be an "air bar," without price traffic, or only minor overlap, once a reversal takes place, a move to the Open of that bar often happens, especially intraday like we saw today. because everyone who sold isn't there to try to stop it, they got their A$$es hand to them and they're licking their wounds.

If you look at that 5m bar that ended at 10:40, Open was 1331.50, and if you look at the retracement High in the 5m bar ending at 12:45, High of that bar was 1332.00.

It happens, believe me. Breaker Bar Redux
Click image for original size
1583
that's cool Paul...the constant reversion of the ES is amazing...so much testing going on to see what is real and what isn't.....and most times the trends aren't real so they return to the "scene of the crime" as some vendors like to say
just how many numbers do we need between 28.00 and 29.50...vpoc's, Poc's , the midrange on the day, the 4 pm close......zoinks.....vwap....
Ah yes, the beauty of Confluence...


Definitely a spot to be mindful of in the future it would appear.
Originally posted by Big Mike

I run a relatively restrictive charting package that does not adequately back-test. I’d like to help out a young trader with his simple setup but I currently cannot. Will someone please refer me to a reliable back-tester? (The CME/CQG solution is outside his budget.)


Has he tried eSignal?
Originally posted by Boola

In the spirit of Bruce's questions about Mkt Delta, I would like to know where I should post questions I have with respect to the various charting packages and data providers you are all using for Mkt Profile analysis. Is this the place to post those questions, or should I post them in some other part of the Forum?

I have been trading for years, and late last fall I began to take an interest in learning more about Mkt Profile. I have conducted a ton of research, such as the use of Mkt Delta Charting with Data from Infinity, or using Investor RT with DTN data, etc, etc. I am sure you who have been trading Mkt Profile for a long time have also done your homework, so I would love to hear "why" you made the choices you made, what you would do different if anything, etc.

Thanks again for any sharing you can provide here.


There's a specific Market Profile part of the forum:
http://www.mypivots.com/board/category/4/market-profile

And for software, broker and book reviews:
http://www.mypivots.com/software
http://www.mypivots.com/broker
http://www.mypivots.com/book
Thank you very much Day Trader. I will check them out over the weekend. Appreciate the sharing nature of the forums here. Have a solid trading day and a great weekend coming up!!