Todays Profile Commentary

[Dogpile 10]

One difference today vs yesterday is that we did have good single prints this morning on S&P's. Also, German DAX down stunning -2.6% today.

[walterw 10]

Hi Dog, can you add charts on your posts ? will make them much easier to understand and will have more educational value.... thanks Walter.

[Dogpile 10]

my tradestation charts are always too big for this site to handle. got a tip for how to make it work??

 

I was under the impression that if you are at this site, I don't have to chart the obvious 'single prints' on the S&P futures. but I will gladly add charts if its easier for me to do than it is presently.

 

The market formed a 'b' profile today indicating presence of long-term buyers or lack of seller conviction. that said, I did short the market very late in the day after NQ tested its 30-min 20-ema. The closing price was below the POC today but I carried 1/2 position home short in anticipation of potential drubbing of the Nikkei. The Nikkei has shrugged off the Chinese market meltdowns but the DAX showed major range expansion down today and I think odds are that Nikkei will drop hard tonight. If not, I will stop out at breakeven on the globex session.

[walterw 10]

do you save your charts as bmp ? if that is the case you can change extension opening on paint and saving as png... this will reduce file size... also for graphic edition snagit does a very nice job... cheers Walter.

[notouch 10]

I don't think you need to post charts for obvious stuff like single prints in ES. I know what you mean. I think Dalton calls it the open test drive.

[walterw 10]

I don't think you need to post charts for obvious stuff like single prints in ES. I know what you mean. I think Dalton calls it the open test drive.

 

for mp experts its ok... for mp curious like me, he is talking in chinese... cheers Walter.

[notouch 10]

This is the Market Profile forum. :p

[TinGull 10]

This is the Market Profile forum. :p

 

I dont understand this comment...are you saying that only people versed in MP should visit this forum?

[TinGull 10]

Walter...here's a pic of the single prints that are being talked about...

 

Note the selling tail at the top of the profile

[Soultrader 12]

for mp experts its ok... for mp curious like me, he is talking in chinese... cheers Walter.

 

Hi walter,

 

An open test drive happens when the markets test one end at the opening just to reverse and continue strong in the opposite direction. What it is doing is testing for sellers or buyers usually at a key level of support or resistance.

[Dogpile 10]

fyi, yesterday was 'open drive' -- not open-test-drive...

[walterw 10]

Thanks Tin and Soul for inputs...

 

Tin on your chart, the red line that comes from previos sessions, what would that be ?

 

understanding a little more single prints now I see that red line was a level that contained B as a resistance, would that be the case ? thanks Walter.

[TinGull 10]

That red line is a previous POC.