[ant]

Hi TinGull, I've been enjoying reading your MP analysis! Hope you keep it up.

Although I don't trade the YM, I thought I'd post the longer-term support/resistance levels in the YM to go with TinGull's analysis. High volume nodes and low volume areas both serve as support/resistance but for different reasons. The chart below is a composite profile of the YM from Oct. 12th until today's trading. The red lines are high volume areas and the yellow lines are low volume areas (note that these are areas/regions and not single prices). High volume nodes should slow down price giving the trader an opportunity to monitor price action and enter/exit a trade. Price action around low volume areas should be more swift - bouncing off of a low volume area or trading through it. If price is accepted in a low volume area (i.e., overlapping TPOs), the market might try to fill in this area surrounded by HVNs. There are well-defined key reference areas above and below the closing price of the YM. Additional reference points can be identified from the market structure (i.e., the daily profiles form the last few days). We'll see if enough selling comes into the YM to break below the support area right beneath it.