Beachtrader

Possibly putting my neck on the block then but I like the failure of price to retest the zone I've marked in blue and the LrH. As I mentioned earlier I am using paper money today but this is how I'm seeing things at the moment. All the best BT

Apologies if it is unhelpful or boring if I post a chart or 2 pre-setup but I tend to focus on levels before the setups themselves and, as with EURGBP, I quite like this level on USDJPY for a reversal. I wouldn't be keen on the long as there looks like quite a lot of trouble ahead to the upside and I prefer the path of least resistance. Would you agree with stance Thales or am I being overly cautious?

EURGBP short triggered using M5 for the entry. Hopefully I have used the right colours to indicate my stop to b/e level and TP level. In general I tend to ahoot for the first TP and take half off then trail using swings with the aim of riding a trend should it develop. All the best BT Update: Stopped out at b/e after missing my TP by a couple of pips. With the benefit of hindsight I maybe could have allowed for a retest of the break level but rules is rules etc.

Important level for EURGBP - support from December now becomes resistance? Faster moves down than up showing possible strength of sellers? For a short I would be looking for a LrH off the current level (and the entry level below the round number). Kind regards BT

Hello Everyone, My first post on this great thread and a paper trade from this morning (I am without internet at the moment) just showing what I saw with EURJPY. My reasoning for shorting into the strong up move was that the level where price stalled coincided with what looked like a possible natural reversal level if one looked at H4. What is interesting me now is what happens at the level I have marked for taking some profit. I think of these sorts of levels as being a bit like traffic lights!! I hope to be able to post some charts from time to time and would like to thank Thales for a brilliant thread which has done masses for my trading. All the best BT Edit: Although my TP level is set at 132.23 I would probably have been looking at taking half off the table at around 132.30 and using that level as more of a zone (with the obvious benefit of hindsight!)

Thanks for that Ochie - I've had a look and I'll use the setting you suggested. Bye for now Beach

Great - thanks Ochie. I'll give that a go. One question though, the FTSE cash on spreadbetting goes to 1 decimal place e.g 4320.6. Does this mean that 0.1 of a tick would be more appropriate?

Hi there, Am new to this forum but came across it during my researches into Market Profile. I'm currently trading FTSE cash via spreadbetting and am getting very into Market Profile and how I can use this to best effect. I'm trying to steer clear of indicators and purely focus on charts so am not looking to go down the route of purchasing MP software. That said I obviously need to get a certain amount of information re POC etc. which lead me to mypivots.com value area calc. Can anyone help me with one simple thing? I understand about inputting the 30 min data but am unsure what tick size I should put in. Should it be 1 or greater? I've noticed that if I change the tick size it has a major inpact on the value area calc. Any help would be gratefully appreciated. Happy Trading!! Beach P.S. The info on this forum about Market Profile is excellent IMO