Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TinGull

Quick YM Analysis 01/17/07

By TinGull, in Market Profile

Recommended Posts

TinGull    10

TinGull
Posted

Yesterday was totally lackluster for the YM. ER got the gold star.

 

Our TPO count yesterday favored the buyers 110/153. Value placement was inside of value from Friday and the profile looked like as statistical as you can get.

 

We did have a ledge form at the high of the day (12637) where 3 TPO's built there. Interestingly...it was the first TPO and the last 2 of the day. Right now (pre news...PPI and cap utilization) we are trading a little above that high.

 

I would think a break into the 580's would spell trouble for the bulls in the short term and a break into the 650's would be trouble on the bears side. Right now we're in a tug of war.

 

The value area is small for today. Just 24 points. If we find ourselves opening outside of value and are fairly close to the VA...I'd say within 10-15 points...I'd look for a break into value to be a possible play for a continuation down to the VAL. If we are inside of value....it's anybody's guess. Waiting for a break of value and acceptance outside of it would be the best way to capture profits.

 

Till then...

YMMP.thumb.jpg.de96c01cb923e82ab0d330cb46c311fd.jpg

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
Go To Topic Listing
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept