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Just had a scalp long... boy do I ever take profit early.

 

But, must say entry was about as perfect as they get. 1 tick heat. Tried a long earlier at 95.75 but closed BE when it showed failure.

 

Found support at, where else but where the most interest was found to buy before... profile is just from move up... on this time frame (minutes to an hour) maybe not so important what price was important over the last few years, but just the morning :)

 

It's a shame you didn't hold on for longer, but without scaling it's hard to do so. We haven't exactly been free flowing since the original move up either.

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It's a shame you didn't hold on for longer, but without scaling it's hard to do so. We haven't exactly been free flowing since the original move up either.

 

Yeah but I didn't even exit at the best scaling out point anyway. My current goal is to increase my account by a certain percentage without scaling, because I am impatient in my exits. I don't like scaling period as I disagree totally with it mathematically, however, even if I were going to scale, doing so in my current way of doing things would only unnecessarily increase my risk; in other words, I still need to hold until the right time to exit, whether it's all out or a scale.

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Just think this way- it isn't your money anyway and it certainly isn't under your control(in your account) until the trade is over. By taking it off early or before you have a good reason to, you're probably killing your average.

Edited by TheNegotiator

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97.50 IBH and 98.50 current developing intrday LVN & CLVN @ 98.75 are areas of interest..for this balance area up here... I am watching them to hold for a potential upside rotation.

 

Is this an appropriate post for this thread? If this is not the spirit of the thread.. I will be glad to refrain from these kinds of posts.

 

Best,

 

tom

Edited by roztom

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Structure seems friendly to the upside.. this is shown in the upper distribution/balance. I am still holding for CLVN 1306-1307 area and added back on this last rotation... will scale out towards CHVN 1304... nice day very shallow rotation so far buyers still interested - so far......Tom

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1307.50 CLVN closed as projected in yesterdays RTH Session in todays 1.19.12 GLobex session and tested 2nd time @ 6:36cst.

 

Break-away Down-Gap from 7.26.11 will close @ 1314.00 , CHVN 1310.5 & CLVN @ 1313.25: areas of interest on the upside.

 

Not a projection - just some sign posts...

 

Good Trading All,

 

Tom

 

BTW: @ 7:08 cst we are getting hIgh volume on the Globex profile and expect a VPOC shift to 1307.00. This may shut off buying up there if we do not hold 1306.25 - 1304.00 ish area. This can change of course as the profile changes.. just a snapshot... and a current interpretation of a dynamic tool... as you say: Cheers :)

 

Addendum: My observation, at least is when there is a VPOC shift - in this case up - if it happens or a high vol area like we have @ 1307.00 if it shifts then the market will eiter stop there since it is a new area of fair value OR push away from it since selling is being absorbed.. we just shifted at 7:30ish cst...now it will be interesting to observe the rotation down... we rotated to 1306.00 area as projected...

Edited by roztom

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Yes got the 1304.00..Stole the 1307.50... LOL... :crap: Still a good day yesterday.. I am a big fan of the profile... Maybe we can chat some time..

 

I appreciate your technical knowledge of it...

 

Let me know if my posting is not aligned with the thread.. I completely understand what that is all about...

 

Regards,

 

Tom

Edited by roztom

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Your posts have been useful so far!

 

Here's a chart for all. Shows the market reversing from 7.50 then taking it out. Yesterday most likely was initiative given it's strength. Note however, it is "stair stepping" at the moment i.e. it moves, then balances, then moves in pretty short-term cycles. To me this is not as convincing as it could be. Nonetheless, the movement is there and we are in price discovery but just bear it in mind.

 

Anyway, it looks as though we want to push for 10.50 and/or 17.50. If we get there by open, there could be a reasonable gap opened up which might be tested. Lots of releases in a few then Philly @ 10et.

 

attachment.php?attachmentid=27112&stc=1&d=1326979410

2012-01-19.thumb.jpg.a209a9ac3a0e4c8194a32838a08290c4.jpg

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I added some addendums to my 6:50 am cst post re: Globex VPOC shift to 1307.00 and potential rotation down to test 1306.00 area... which we did..

 

just interesting how profile can be interpreted and used for Daytrading... Tom

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N, I know you hate the diagonals probably more than I do, but you have to admit, this structurally is very reliable so far. Looks primed for a drop IMO, except that of course the action overnight and yesterday is quite strong. But it often looks like it can only go one way right before it does a 180...

01_19.2012-09_11_33.thumb.png.d8a47905ef4878634c05b4fb08d1dbb5.png

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Addendum: like we have @ 1307.00 if it shifts then the market will eiter stop there since it is a new area of fair value OR push away from it since selling is being absorbed

 

So.... what does this mean exactly? Sounds like you're saying the market either stops there, or moves away... hmm, what else would it do Tom? :) Maybe I'm not reading you correctly.

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Sorry if that soundeed like it will either go up or down... but a VPOC shift is an important event since it is showing an area of activity that will either shut off the directional move...volume = fair value as you can see on the GBX profile as of 8:19 cst or it will push away from it... When I see that than I look at the Delta to see whether it is buying or not... we had the first rotation down and found buyers and then on the next rotation up to new high we ran out of gas...so this is a new balance area.. at this time... Will it hold? don't know ..

 

I don't know if this is a correct interpretation but that is how I use the maket generated information...until it changes..

 

Tom

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N, I know you hate the diagonals probably more than I do, but you have to admit, this structurally is very reliable so far. Looks primed for a drop IMO, except that of course the action overnight and yesterday is quite strong. But it often looks like it can only go one way right before it does a 180...

 

No, I don't hate them at all. Often they are very useful on UST(ultra-short timeframes) to define moves imo and therefore reversal risk. I find that most don't have a mechanical way to apply them though and so people end up looking for them where they do not exist(or are weak). We'll have to just see what happens at the open though.

 

So.... what does this mean exactly? Sounds like you're saying the market either stops there, or moves away... hmm, what else would it do Tom? :) Maybe I'm not reading you correctly.

 

I think the inference is that a VPOC shift can mean either a reversal is imminent OR the market is resting prior to further price exploration in the same direction.

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I think the inference is that a VPOC shift can mean either a reversal is imminent OR the market is resting prior to further price exploration in the same direction.

 

N, well put.. thanks for clarifying..Tom

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I profiled the consolidation back from January to August, and this peak volume at 1309.25 .. I find little value in low volume areas unless they are very obvious delineations between balance areas. Seems that quite often price is drawn to prior volume. Again, this is less than a year old, so not stale prices from long ago. I normally don't even refer this old, but to the left right now we have nothing except this :)

01_19.2012-09_25_49.png.7d9774caf7e65ccf991c43ef15885e74.png

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No, I don't hate them at all. Often they are very useful on UST(ultra-short timeframes) to define moves imo and therefore reversal risk. I find that most don't have a mechanical way to apply them though and so people end up looking for them where they do not exist(or are weak). We'll have to just see what happens at the open though.

 

Indeed -- trend lines can be very subjective. I'm just the opposite, I find little use on short term, but on the long term like the 60m chart right now it is VERY obvious so I must pay attention to it.. happy trading guys.

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What's your thinking guys? Drifting down with low conviction? Rejection lower? Or too soon to tell?

 

Too soon but I see no OTF participation, so I would suspect based on last 3 days, continued drift UP.

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SO far classic MP... I had 2 short trades covered last just before yest..VAH when Offers dried up.. Did NOT get long...missed that - waiting for a rotation since we had RE...

 

I always try to think where the fuel is... the markets job is to facilitate trade...advertise for buyers & sellers... when we rotate I watch the Nodes, especially CLVN and also where stops will accumulate as fuel for the rotation... Ex. at 10:00 cst... CLVN @ 1307.50 which held the rotation so far but there are also stops at the current 50% retracement under F period and the DVPOC at 1306.75... so these are areas I would watch to potentially position with the current move... However..this is not mechanical..just areas of interest...for me..I'm sure others would interpret it 180 degrees from me... that's what makes a market... :)

 

Tom

Edited by roztom

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