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premal24
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Everything posted by premal24
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Dear Friends, For all of us who don't have access to MP based systems here is one solution I feel can be taken over to work for. a) Please open 5 days -30 Min. Intraday CANDLESTICK chart in whatever software you use. b) As you scan through you shall notice different 30 min. candles in RED or GREEN depending on the price in the last half hour. I mean if the price went lower then RED or if it went higher then GREEN. c) THE STRATEGY : I have observed that when a stock or a market is trending whenever 3 SIMILAR COLOURED CANDLES are observed CONSECUTIVELY the price then keeps moving to that side of the trend ! Yes, this is most accurate when TREND prevails. d) This logic states - A PRICE WHICH is ACCEPTED OVER the last ONE & A HALF HOUR of TRADE. Well, to an extent MP is connected with similar system only exception being VOLUMES are also taken into consideration. I would suggest all to try on this SIMPLE FREE STRATEGY and quote me a feedback. Cheers, PREMAL
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My email : premal24@yahoo.com . Please forward me the worksheet. I am using Market Profile for sometime now and would be able to guide if there is any change needed in the work you have done.