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vicsch
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My last post never showed up, so let's try that again. I was born and raised in South Africa, met my Australian-born wife while on holiday in London, got engaged in Austria, married back in South Africa and moved to Australia amost 14 years ago. Where to next I wonder?
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Thanks for that. I suppose it does make perfect sense that previous value areas are as "important" as present ones, just as previous highs and lows, or Tops and Bottoms become support or resistance levels - sometimes months, or even years apart. I'll keep that in mind. Regarding liquidity of the SPI 200 - It's been picking up of late and the average daily volume is anywhere between 15 and 20k - even higher at at times.
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Thanks for the welcome.
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Hi Guys, Think I've put the cart before the horse - posted a query before introducing myself. I started trading the SPI 200 (Aust. Share Price Index), very lightly back in the late nineties and over the years, developed a kind of love/hate relationship with it. I come from a WD Gann background (got really involved/bogged down with it), but it seemed to work pretty well back then and I stuck to my guns. Then after a while, (maybe it was just me), the market's footprint seemed to change and I found the SPI tougher and tougher to trade - so I gave it a break for a long time. Anyway, I must be a bit of a masochist because I'm back for another crack at it. Market Profile has been a big eye-opener for me I've already found some incredibly useful information on this site. Hopefully I can also bring something useful to the forum some day. Regards, Vic
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Hi Guys, This is my first post and I'll try to keep it as brief as possible. After a fairly lenghty absence, I've returned to trading the SPI 200 (Aust. Share Price Index). Over the past 6 months or so, I've been studying "Mind over Markets" and have been amazed to see how accurately the market reacts to the various pivot points of Market Profile - to such a degree in fact, that I don't think I could trade the index without it anymore. My question is: If/when the market opens outside the previous day's Value Area (out of balance), how much importance can, or should be placed on previous Value Areas and at what time should one consider them to be no longer valid? I've seen the market react to previous pivots, but personally find it more difficult to "trust" them as possible targets, or entry points. I calculate my Value Areas using an on-line TPO Chart and then manually update my charts on a daily basis. A bit archaic I know, but I find it works for me. Any comments would be much appreciated.