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

 

It rejected yesterday's range(and vetoed the gap close by 3 ticks!), then couldn't kick back off the 5.75 opening range low to test lower despite some decent selling after rubbish philly fed read(plus rev down), when it held the VPOC//5.75 on retest it looked like new highs to me. Like you said though, not much participation from OTF yet. I want to see if the IB high/Open area holds or not. Beyond current high there are a number of prices of interest over a range from 10.50-15. I have to say, that is never my favourite although it can be good if you don't get caught at the wrong level :)

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This market today to me is like, get on the right side (long), and just hope you get taken along for some profit. Not much logic really IMO. If it reverses against you, oh well, too bad... that's how it feels to me. Not that it's really a bad thing necessarily.

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This market today to me is like, get on the right side (long), and just hope you get taken along for some profit. Not much logic really IMO. If it reverses against you, oh well, too bad... that's how it feels to me. Not that it's really a bad thing necessarily.

 

Certainly see it the same way so far.. I had an entry at 1309.00 level but can't position that close to the 1310.50 CHVN and 1310.75 is a Micro node so they do provide some resistance if only temporarily... The 1310.00 is where I would scale a long but I could not enter 1309.00...so I am looking for a reaction/rotation but it may not happen... so I wait for the next bus to come along...

 

Regards Tom

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so I wait for the next bus to come along...

 

Regards Tom

 

This is kind of like, jump on the bus if you can, while it's moving :)

 

Most logic and levels and all that can be pretty well thrown out the window in this type of market. Just buy, pretty much. I'm waiting for some type of volume to show itself but it crawls up because no real sellers opposing it. Just look at the spx chart attached. If you were OTF, would you really short here for a position trade? Doubt it.

01_19.2012-10_51_55.thumb.png.66cfecd64769a504753499b75ee835a0.png

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This is kind of like, jump on the bus if you can, while it's moving :)

 

Most logic and levels and all that can be pretty well thrown out the window in this type of market. Just buy, pretty much. I'm waiting for some type of volume to show itself but it crawls up because no real sellers opposing it. Just look at the spx chart attached. If you were OTF, would you really short here for a position trade? Doubt it.

 

If I was OTF I would not short here but when the market gets too long that is when they will come in to flush it and rotate it to clean out the weak hands... there's paper under the market and it will typically go there to do business before it continues the trend.

 

I find the market does respect levels of former activity by the OTF and will return to those levels... to test - just my observation...

 

Of course the market does it's own thing.. and I try to stay aligned with it..

 

One thing I've learned is "I know I don't know."

 

Regards,

 

Tom

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DVPOC shifted @ 11:09 cst from 1306.75 to 1310.25.. also the bids dried up - for the moment...so question to me at least is...will we now rotate or will the market push off higher from here? I don't know but we may balance up here for a while - don't know but if it does rotate I will be stalking a trade... Tom

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DVPOC shifted @ 11:09 cst from 1306.75 to 1310.25.. also the bids dried up - for the moment...so question to me at least is...will we now rotate or will the market push off higher from here? I don't know but we may balance up here for a while - don't know but if it does rotate I will be stalking a trade... Tom

 

Perhaps this is a good time to shamelessly plug the thread I started on a very related note yesterday :D

 

http://www.traderslaboratory.com/forums/market-profile/11711-price-acceptance-value.html

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Perhaps this is a good time to shamelessly plug the thread I started on a very related note yesterday :D

 

http://www.traderslaboratory.com/forums/market-profile/11711-price-acceptance-value.html

 

I just took a quick look at your thread... I am looking forward to see what kind of responses you get... Great questions...

 

BTW: Is that topic different from what is discussed here?

 

BTW, as I write this the mkt is rotating @ 11:28 cst... DVPOC shift did cut off the buying for a rotation... it's like the Limbo...how low can you go... ? :)

 

Regards Tom

Edited by roztom

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12:06: Observation: Mkt Held VWAP/& CLVN @ 1307.5 & most important, IMHO IBH @ 1308.25... I positioned on that rotation to scale at HOD and also target next CLVN 1313.25... so far this is classic profile trading... helmet on... :missy:

 

BTW: There is a naked close out there 1314.75... we could close that today..so I am shooting for the next CLVN 1313.25ish.

 

Regards,

 

Tom

Edited by roztom

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That was indeed a nice hold at VWAP/IBH etc.

 

Sure was...wish they all worked that way... I have minor resistence at 1311.50... I got my scale off at HOD 1311.00 but now am a bit "perplexed :) since it is lunchtime it may rotate again..I am trailing a tight stop to protect a few tics and will reposition if it rotates and the internals look ok if I get stopped... :crap:

 

Regards Tom

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2441.50 short the NQ here for a retrace from ST p2... at least a day hold.

 

I'll wash at 2441.25 if it reaches there and look to get a better entry above 2442.50.

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Right now I'm long 08.25 ES after a couple of failed tries prior. Serious selling here around vpoc at 10.50, but I will leave the stop at 08.75 for at least 2 ticks gain, I want to give this an opportunity to completely explode up, let's see what happens.

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Right now I'm long 08.25 ES after a couple of failed tries prior. Serious selling here around vpoc at 10.50, but I will leave the stop at 08.75 for at least 2 ticks gain, I want to give this an opportunity to completely explode up, let's see what happens.

 

be objective. if it goes, have a way of getting out if it reverses(other than ur nerves).

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possibly, although vwap is 8.75

 

Yeah it's just had many chances to break 10.50 and did not so far. When it's truly strong it should not be so difficult, but still in for now, time getting short now for a real move, it needs to go.

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Out 09.00, for a wonderful +0.75 ... I really do not like this market, sorry for the vent. Every other time (every) that I have bought at a similar location, I take the profit, and it goes straight up like a rocket. Not to be today. Normally I would see the heavy volume at 3:22 and be out, but I decided to be a "good boy" today and look what it got me.

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Out 09.00, for a wonderful +0.75 ... I really do not like this market, sorry for the vent. Every other time (every) that I have bought at a similar location, I take the profit, and it goes straight up like a rocket. Not to be today. Normally I would see the heavy volume at 3:22 and be out, but I decided to be a "good boy" today and look what it got me.

 

Good trade I was long in there to... 08.50 like you said it kept banging its head on the CHVN @ 10.50/VPOC so I took a point and called it macaroni... will watch cash close...

 

 

Tom

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Look at the absolute BS the market plays. 8 point range the entire day. Goes down 4.5 points after the cash close. Then back up 5 points. All within 15 minutes. I know it's not healthy to think, but it's frustrating when I want to absolutely strangle the big money traders who are manipulating and playing games with this market.

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