To me, Market Profile is about context for your pattern recognition. ie, I have been using 2 guideposts for my trading -- though I trade NQ futures mostly, not S&P's.
There have been 102 trading sessions in 2007 so far:
NQ has 'touched' the previous days
POC 80 of those 102 sessions - 78%.(price calculated
POC, not volume) .
FYI, NQ has touched the 15-min 20-EMA 94 times out of 102 sessions - 92%.
Thus, if the market has pushed one direction but has not touched these 'pivots' yet -- I am biased for a move towards these pivots. Having this statistical tendency is quite nice. Clearly, you need a great short-term reward:risk trading strategy to go with this tendency but in the volatile NQ futures market, it is nice to come in each morning with a first trade plan to short above yesterdays
POC or a long below yesterdays
POC and play back for the 15-min 20 ema or yesterdays
POC, or play simply for it to try to test it -- not necessarily touch it.
Curious if this is standard Market Profile thinking or if there are other such things that you guys use that I might incorporate into my gameplan each morning (MP-based context to give short-term technical strategies that added boost). Thx in advance.