KO
koolblue
Rep: 48,651
Posts: 16,032
this shouldnt be too surprising...for 3 months i told you bout the JAN low of the cycle that started at 1586! 120 day and 40-45 day cycles bottom in about a week. and those closing ticks always good for 70-120 handles... last time 100
BR
BruceM
Rep: 216,211
Posts: 19,895
highest volume bar low is at 93.75...no surprise the challenge here
PT
pt_emini
Rep: 5,707
Posts: 1,940
quote:
Originally posted by PDQ
quote:PT, can you explain this (IB) when you get time? Thanks!
Originally posted by pt_emini
this is gonna make one hell of an IB !
wonder what the 2x IB will project to ???
IB stands for the "Initial Balance"
It is a term / concept used by the Market Profile folks to describe the range of the first two 30 minute TPO's (rotations) of the market. In laymans terms the IB is the range of the first 60 minutes of trading in the day session.
Today, the first rotation was 22 points wide... lol, and we are currently in the second rotation which is retracing the first rotation.
Wide IB's (like today) tend to lead to consolidation and an early development of the day's value area. Narrow IB's tend to lead to range expansion and trend day's, where these 2x IB projections come into play.
PD
PDQ
Rep: 110
Posts: 167
quote:Thanks for the explanation PT. I actually look at the range of the first hour, but didn't realize there was a more technical term for it. lol
Originally posted by pt_emini
quote:
Originally posted by PDQ
quote:PT, can you explain this (IB) when you get time? Thanks!
Originally posted by pt_emini
this is gonna make one hell of an IB !
wonder what the 2x IB will project to ???
IB stands for the "Initial Balance"
It is a term / concept used by the Market Profile folks to describe the range of the first two 30 minute TPO's (rotations) of the market. In laymans terms the IB is the range of the first 60 minutes of trading in the day session.
Today, the first rotation was 22 points wide... lol, and we are currently in the second rotation which is retracing the first rotation.
Wide IB's (like today) tend to lead to consolidation and an early development of the day's value area. Narrow IB's tend to lead to range expansion and trend day's, where these 2x IB projections come into play.