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So there's seven points and I am really having a hard time keeping my eyes open....

 

anyway...as mentioned I am leaving a piece in there with a stop just below 1308

 

I need at least an hour sleep

 

Good luck

Steve

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Well I am going to close this one here

 

It worked out well but I really need to catch up on my sleep

 

I will pass on tomorrow's open

 

Good luck folks

 

Steve: Can I ask you where did you exactly enter to postion? YM made a similar setup and I was plannig to enter on some correction, but no valid correction (for me) has been made and I was just watchinh like it goes straight up.

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Well I am going to close this one here

 

It worked out well but I really need to catch up on my sleep

 

I will pass on tomorrow's open

 

Good luck folks

 

Steve - I have a question if you don't mind. I can see that you are using non-confirmation across indices to alert you to an opportunity. What I don't fully understand is how you ascertain which index is leading.

 

How do you spot this?

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Well I am going to close this one here

 

It worked out well but I really need to catch up on my sleep

 

I will pass on tomorrow's open

 

Good luck folks

 

Please explain what each of your dark and light blue areas mean,how they are created and why you trade from them. I can understand N's and roztom's use of MP and could choose to do the same if I wished. But yours I don't understand, please make it clear. Thank you.

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ISM Man release is at 10am today following ADP(non-farm payrolls proxy-although taken with a pince of salt by most) earlier which disappointed slightly. We have NFP to look forward to for Friday. Although there's a clear possibility for a test to top end of the recent balance, there's also a chance that we continue to balance until either closer to or after NFP. Here's a chart to look at anyway.

 

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2012-02-01.thumb.jpg.bbc22bcf698a60a2d376ab3f1ae1a689.jpg

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1319.50 NVPOC CLosed over night CHVN 1319.75... Key areas closed

 

Key Area for any further upside..

 

If decisively penetrated 29.75 & 1333.25 next..

 

Good Trading All

 

Tom

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9:11:57 cst.. If any of you are watching MP VOlume Profiles you will see a "current" Low Volume area @ 1321.50.. This is a support area for rotation and also for taking a position...

 

Just FYi.. if the market comes back and volume expands there then the buying activity is no longer present...

 

These are not cast in stone - in fact they are dynamic. I look at them as they develop and they also have more meaning as more trade develops and they hold... The 1321.50 has the "potential" to become the bottom of a balance area... IMHO...

 

I am not suggesting anyone take action there..it needs to be confirmed with other tools and you must be nimble if the market comes back and accepts that area...

 

Hope this is helpful.. again just the way I personally read it... Others may see it differently..

 

Regards,

 

Tom

 

UPDATE 934:01cst.. We just ticked it so now we will see if the buyers are still active there...

Edited by roztom

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whats your stop and target tom?

 

This is only a reference point for the read of the Profile.. I am long from further down.. I am targeting 29.75 area and potentially 33.00 ish as previously posted.. I will take some scales along the way if we get to my short term targets...

 

Remeber, these are never recommendations, etc... I just want to help with the read of the profile.. If you look at the Profile currently you will see @ 9:37cst that it is trying to balance in that area of 1321.50 ..that is all I am saying...

 

If we take that out then have to look at the next areas below..

 

Best,

 

Tom

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DVPOC..Currently the VPOC @ 1319.25... We are currently balancing in this upper distribution area... if it holds (?) we could see a DVPOC shift 1322.25 the current developing interday HVN..that will be VERY important if it happens...When that happens IMHO it indicates either the buyers were being absorbed by sellers or the sellers were being absorbed by buyers... It either will shut off buying and create further downside rotation or accelerate the upside...

 

Regards,

 

Tom

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Despite the fact that 19.50(-20.25) was taken out, the profile is starting to become a little top heavy(VPOC shifted). Also the first area between 24.25-25.25 I have is very close and yet there's been no real hunger to test it. Not saying it'll will do this or it won't do that, just noting information...

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Despite the fact that 19.50(-20.25) was taken out, the profile is starting to become a little top heavy(VPOC shifted). Also the first area between 24.25-25.25 I have is very close and yet there's been no real hunger to test it. Not saying it'll will do this or it won't do that, just noting information...

 

I have a scale sitting up in the 25.00 area... we are thrashing a bit here...

 

Best TOm

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Yesterday, after the move lower we stayed in a 3pt range for around an hour before moving on.

 

I always find the half hours interesting.. Today, so far we tested the IBH in G period - next? H... either will rotate further down or accelerate... that\ part is obvious but the clock ties in.. just an observation..

 

To clarify I am referring to more activity which can create Range Expansion - of course it doesn't have to...

 

Tom

Edited by roztom

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Some resistence: BTW: There is a SIngle @ 1324.25..these can act as barriers, of course and the market may rotate off those. Some traders fade or scale against those...

 

Tom

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