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DA
day trading
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Posts: 6,370
Single print left behind above us a 1194.75 in the H bracket on 8/17 (Wednesday). Coincidence that Wednesday's Market Profile long trade at the market was from the VAH at 1195.25 and now that support price has become a resistance line?
AY
ayn
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Posts: 128
did you have any downside projection falling in the 131 area low ?
Originally posted by prestwickdrive
FWIW, the KT full projection off of the 1131.0 low to the 1137.75 inflection high is 1148.75.
PR
prestwickdrive
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Posts: 1,098
Originally posted by ayn
did you have any downside projection falling in the 131 area low ?
Originally posted by prestwickdrive
FWIW, the KT full projection off of the 1131.0 low to the 1137.75 inflection high is 1148.75.
No. I could probably find an inflection from the Globex high that would get there retroactively but it would not be honest. :-)
From the cycle high 1148 - 1145.25 we had an initial of 1143.5 and a full of 1140.75. That full has now been negated on the topping of 48.0. It may still get there but I would work a new projection off of an inflection now from 48.25. If down projections start to consistently fail it tends to signal the down trend has reversed. Likewise with failed up projections signaling a trend change.
I am done for the day. Good trading to all.
BR
BruceM
Rep: 216,211
Posts: 19,895
u got it...right on !!
Originally posted by della
If im rite we move back up to test that pocket of low VOL area from 43.50 to around 48.25 triing to move on it now
LI
Lisa P
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Chicago floor trader: "That "soft landing" Bernanke promissed, now looks like a concrete patch". lol
DE
della
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Posts: 588
I believe we may test the lows today in that area of high vol now witch way will it go up or down 42.50 now
DE
della
Rep: 550
Posts: 588
Bruse you were talking about 39.00 this morning I see high vol there they worked that area pritty good
BR
BruceM
Rep: 216,211
Posts: 19,895
Big Mike,
question 1)
The market will not always blow past a low volume node and go to the high volume node . Quite often it just over shoots it and then I get the signal to get short or long. The overshoot runs out the stops from the people who are expecting the market to stop right at the low volume zone. You will see this quite often at single prints for example. Many use fixed stops on that trade and often they get taken out and the market returns to the low volume zone.
question 2) Correct..I used that day because it was below the open of yesterday so I want to know where the key numbers are below and above the open price so I have some references to work from
question 1)
The market will not always blow past a low volume node and go to the high volume node . Quite often it just over shoots it and then I get the signal to get short or long. The overshoot runs out the stops from the people who are expecting the market to stop right at the low volume zone. You will see this quite often at single prints for example. Many use fixed stops on that trade and often they get taken out and the market returns to the low volume zone.
question 2) Correct..I used that day because it was below the open of yesterday so I want to know where the key numbers are below and above the open price so I have some references to work from