StoneTrader

Hello Ant, Are there any good screenshots you would be so kind to reference to see an example of good market structure elongated trend day vs poor market structure elongated trend day? When you say "backing and filling", do you mean to say you get some sustainable level of Higher High's and Higher Low's vs. just a few gigantic long bars on a minute chart? (Long bars implying unsustainable & near exhaustive momentum) Was Tuesday's downtrend "good market structure" for the bears? Regarding non-symmetric profiles, would you be so kind as to show a screenshot of poor market structure in these conditions? When you described 3TPO's at one price level vs 1 TPO at the adjacent level, I was imaginging a double distribution day where there is a thin zone of volume dividing the two trading ranges. Thank you for the thread... it is great. Sad to see it end!

This is a terrific thread. Thank you so very much for sharing. I watch Volume Profile on an intraday, 5-day, and whole-contract basis. It helps me keep track of multiple trading ranges simultaneously on one screen. Different way to view the same market data... I also use similar "long term" big picture charts to keep an eye on long term participants. All the best, Stone

This is my interpretation: Support is an area where an overwhelming amount of people (w/ large positions) for any variety of reasons decide that they should buy. Resistance is an area where enough people (w/ large positions) for any variety of reasons decide that they should sell. Support & Resistance often "flip" because all of the "losers" from the last time the zone was fought over decide that they want to break even with their losing trade that has come back from hell. They may even double up and reverse to go along with the path of least resistance. What I think is really interesting is watching reversals happen at S/R Zones where the prices move *towards* large sizes (liquidity) available on contracts. For instance, if we are fighting against 1200 as resistance, we might see an immense amount of limit sell orders at 1200 and slightly above. Once those large orders are taken out, we'll experience a crush of stop market buys and the market "Zooms" past. Someone pointed this out on ET many years ago and I just started to notice it and recalled my own ill attempts at front running "size" only to be stopped out dramatically. Hope that helps, Stone