Market Profile Picture of Yesterday's Value Range Projection

[namstrader 10]

This is my first attempt to show a picture attachment and not sure if it will work.

 

What I am trying to show is something interesting observed yesterday on the ym.

 

Taking Thursday Value range of 72pts and applying this to the early morning low of 12538 you then get 12600. If you double this Value range from thurs. x 2, you then project a target of 12672 on the ym. Like a double value range projection, liken to a IB expansion of x 2 that occurs often. So this is just an observation that taking yesterdays Value range and applying to todays early high or low can show possible targets projected. I am amazed when I see this often after analysis, trusting in real time is pretty difficult now for me. When seeing things so often this will breed confidence to have patience to just let it unfold and hold until completion. From being a scalper and failing miserably, I am reprogramming mindset to ride trends and pullbacks to completions of projections and targets. It becomes more of a faith based trading system that evolves from observations and analysis. Work has been done and now must trust, rather than earlier fear based or emotion based trading that grabbed when there in profit.

[DbPhoenix 42]

There doesn't seem to be much discussion of intraday MP, or at least I haven't found it, so I appreciate your effort.

 

I don't use MP per se, at least in terms of all the calculation, but I do look at the day in terms of a volume range and a price range, which I hope is not too far off the MP intent.

 

Therefore, your take on this seems perfectly reasonable to me, though I arrive at more or less the same conclusion from a different route. For instance, the price and volume ranges established Wednesday put a midpoint around 625 (this may or may not coincide with the POC). Therefore, I'd be looking to enter somewhere near 550 and exit somewhere near 700 (or vice versa), depending on what opportunities present themselves before the open and during the day. But I'd also watch the 625 area since price may just decide to reverse and end up back where it started.

 

And, yes, it is interesting to see how price travels among the midpoint and the extremes. Auction market theory definitely brings something to the table.

[namstrader 10]

Here is a example of using the volume histrogram intra-day. Lots of time I see these larger volume areas that will act like the center point of a equal distribution to each side of this point, like a POC. All I do is project to the other side a possible target that completes the bell shape curve look. At the completion I can then fade too.

[namstrader 10]

Here is prior day value areas.

[namstrader 10]

Here is a chart where fading the volume distribution completion corner that happened this morning friday.

[namstrader 10]

Looking at the ZN (interest rates chart) I can also use as a inverse relationship confirmation to the YM. Very Often both take off, in opposite directions and keeping eye on the ZN can give me a heads up before I get my head taken off.

[namstrader 10]

Again today Friday, using the value area yesterday thurs. of 12661 to 12577, I find a likely, haha, low or high price in the morning session and then if I project this price with adding the yesterday value range total, I then can sense a possible target to keep in mind. So with a value range of 84pts. and added to the low of 12524, I get a projected target completion of 12608. Hit. Take a contract off or go kiss something cause it magically happened.

[Soultrader 12]

Might be slightly off-topic but, in regards to intraday market profile levels, I use this especially for the KOSPI 2000. What I do is have developing value areas plotted on my candlestick charts. I use these as dynamic support and resistance levels.

 

If you wonder why in rangebound market, price turns before reaching the previous swing low/high... take a look at the developing value area. It can be quite enlightening

[DbPhoenix 42]

Might be slightly off-topic but, in regards to intraday market profile levels, I use this especially for the KOSPI 2000. What I do is have developing value areas plotted on my candlestick charts. I use these as dynamic support and resistance levels.

 

If you wonder why in rangebound market, price turns before reaching the previous swing low/high... take a look at the developing value area. It can be quite enlightening

 

This was an interesting feature of yesterday's trading in the NQ. Support was found 10pts higher, resistance was found 10pts higher, and the midpoint was raised 10pts at the close. The entire area was uprooted and moved in toto.

[hanhlhh 10]

I want other examples or similar strategies