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TinGull

MP Chart

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Pretty chart....just had to post it! Figured out how to make my charts look real nice. :)

 

Also...notice the naked POC from the 4th....at 12269....I hear the sucking sound of the vacuum pulling the price there....wwwoshhhhhhhhhhhhh

 

While a narrow range day and a near PERFECT looking profile are usually a precursor to a nice vertical move, will it be up, or down? Looking at the dailies I'd say we could head down to pick that NPOC up for a ride. If we managed that, it would take out yesterdays lows and I think we'd see some movement to the downside and try to take out 100. We're really hitting our heads on the backside of the uptrend line.

 

Just my 2 cents...markets gonna do what it wants to and I'll try and ride it. I LOVE trend days, so here's hoping!

 

Meanwhile...enjoy the pretty profile!

5aa70dbb2bd7b_Picture6.thumb.png.eca70fce57817b3df6528f777349dfe3.png

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Guest rwalkerx

Can you explain POC and the overall concept of MP in easy to understand terms. I dont really know wtf I am looking at. I dont use it. Is there a video on it or online faq you recomend?

 

Is market profile just a way of seeing the overall volume for a price on a particular date/time?

 

NS

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Its imppossible to explain market profile in a few words or even a paragraph. The best way is to pick up Mind Over Markets and read it thoroughly. MP traders here are all familiar with the book so we have alot we can dicuss.

 

By the way, POC refers to the price level where most of volume occurred. Market profile is an auction theory based on market balance vs imbalance. When a market trades in value, the market is balanced or rangebound. A trend occurs when the market leaves value and searches for a price area where it can establish value.

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