2/27 the Big Picture

[subq 10]

thought I would post a screen shot showing how I like to use MP

 

what you should see is that our first area of resistance was 1369-72 which we finally broke through on 2/25, the expected next stop would be 1387 and that is what we needed to get over today to move up to the 1396 area, if we break that, 1416 here we come, otherwise, a nasty drop back down to 1358

 

note I am not using value areas, IB, etc etc...shape/development and POC is what I am concerned about

 

http://www.charthub.com/images/2008/02/27/es_mp_rths

 

[mister ed 10]

Thanks subq -

 

So are you using the POC as an area that you expect to revisit on following days and assessing the implications of a revisit or a failure to revisit? Sorry, might be a dumb question ...

[subq 10]

no dumb questions

 

POC = Value

 

which is why I don't really find a reason to look at value areas, IB, etc etc...

 

naked POCs are very strong magnets

 

think about it in the sense that a POC is where lots and lots of business took place, so it makes sense that business needs to take place there again

[DbPhoenix 42]

I'm not into MP per se, but I do trade support and resistance and pay close attention to the "midpoints" of the ranges as defined by volume. All this predates MP by many, many years, though (Wyckoff, to be exact). As such, I do find the extremeties to be worth noting as the trips back to the midpoint (what MP calls the "POC") are more reliable with regard to entry points and management than are the trips away from the midpoint to support or resistance.

 

For example, the midpoint in the NQ has been 1780 for weeks now. Trading the support and resistance extremes from this back to 1780+/- has been not only simple but easy. This will all end when we break out of this hinge, but, in the meantime, it's been a pleasure.

 

Db

[dandxg 10]

I'm not into MP per se, but I do trade support and resistance and pay close attention to the "midpoints" of the ranges as defined by volume. All this predates MP by many, many years, though (Wyckoff, to be exact). As such, I do find the extremeties to be worth noting as the trips back to the midpoint (what MP calls the "POC") are more reliable with regard to entry points and management than are the trips away from the midpoint to support or resistance.

 

For example, the midpoint in the NQ has been 1780 for weeks now. Trading the support and resistance extremes from this back to 1780+/- has been not only simple but easy. This will all end when we break out of this hinge, but, in the meantime, it's been a pleasure.

 

Db

 

Db,

 

I am just starting to tinker with MP in addition to using VSA and Wyckoff and it apppears quite good. I need to look at more trades and gather a few more stats.

 

Previously, I had just used pivot points and the previous day's high or low. I had a little bit of previous exp. with MP having studied it for a bit last summer. I believe the reason why both are complimentary are they are both based on volume which is a method of trading based on sound logic.

 

I just want to give another note of thanks to Soul Trader as I watched his videos using the two and. For example, today the ER2 opened below VAL and it showed clear weakness as defined by VSA and Wyckoff as it approached the area and rejected the VAL twice on a 3 min chart. Get short. Then it penetrated the PDL on volume and started to pullback on lower volume. Get short again.

[subq 10]

and here we are, right down to the 1458 as mentioned in my previous post

 

http://www.charthub.com/images/2008/02/28/es_mp_24h

[subq 10]

updated chart, works nicely, see where we hit and where we are consolidating a bit?

 

http://www.charthub.com/images/2008/02/29/es_mp_24h