[Anonymous]

Gold. Just Gold. Very Nice Soultrader. Nice indentification of the Pushing through Supply.

[Soultrader]

Okay sorry for the delay. Had some datafeed issues but now all setup with IRT.

Below is todays ES profile. A couple of things to explain first.

• Thick red bar is value area.
• Thick blue bar is the initial balance.
• Thick green bar is 0.5 times the distance above/below the IB.
• Thick yellow bar is double the distance of the IB.
• Orange horizontal line is the POC.
• Volume profile is shown by the histogram.

Profile shows a trend day with IB extensions approximately 2.5 times to the upside. There is clear push of price into the previous session value area. B period tested lower below the 1/25 range to seek supply. This was cut off resulting in a open-test drive format.





Though Asian markets are reacting positively today, the action does appear to be just an reaction of 1/28 US action. Therefore, I will not be holding a bias based off the Asian markets. ES profile indicates potential balance zone. 1/24 showed a normal day with price pretty much trading within the wide initial balance. The profile also shows symmetry.



1/25 slipped lower below the 1/24 value area. This was a sign of weakness. However, on 1/28 price tested for supply below the 1/25 low, found demand and pushed price all the way back above the 1/24-1/25 value high. Hence we are seeing balance => weakness => strength.





Market profile levels:

VAH: 1350
VAL: 1334
POC: 1344

Will be looking for rotation in balance or overlapping to higher value placement. Confluence area of 1/18 high, 1/24 high, and 1/28 high will remain a key reference point. Question will be: How far are we likely to extend the current 3 day overlapping value area?

[MC]

Thanks James...I'm learning alot from the MP video and these posts.
Now I just need to get a market profile platform and feed.

Added---
Question, so today we had a buying and selling tail. The buying tail has 3 compared to the 2 on the selling tail, does that mean anything?

Also is there a decent MP provider for a cheaper price compared to Esignal you might recommend?

[Soultrader]

I dont really count 2 print tails as single tails. There is not much significance compared to clear 4-5 print tails. Each print in the chart shows 1 ES pt. A slip of 2 ES pts is common so wouldnt pay too much attention on the tail element... but rather it is a key resistance level.

On the buy tail.. to me whats more important is the level of confidence expressed by the bulls today indicated by the open-test drive. The range extension was also early in the day at C period with D-G period all holding pretty much above the IB. What the profile is telling me here is positive confidence.

Regarding mp vendors, I am using Investor RT with IQFEED. This has reduced my costs compared to esignal. Esignal was good but I encountered problems connecting due to my dynamic IP address. You might want to look into it or grab the free trial first. Contact LS_Chad if you need any help.

[MC]

Since you use Infinity AT is there a reason you don't use Sierra chart for $44 a month. The data would be free from Infinity right? I guess they do more TPO and not full market profile?

I've looked at this several times but just am not ready for the leverage and am between brokers right now. I'm probably going with think or swim for stocks and the hope is I'll have enough in the near future to open an Infinity account as well for futures only.

Thanks again

[Soultrader]

Originally Posted by mcichocki_ »

Since you use Infinity AT is there a reason you don't use Sierra chart for $44 a month. The data would be free from Infinity right? I guess they do more TPO and not full market profile?

I've looked at this several times but just am not ready for the leverage and am between brokers right now. I'm probably going with think or swim for stocks and the hope is I'll have enough in the near future to open an Infinity account as well for futures only.

Thanks again

I used to use Sierra charts but got extremely frustrated with the software. It was a constant pain in the ass to deal with and definitely not user friendly. I would much rather pay up for a charting package which I like than seeking for cheaper alternatives. Makes my life easier

[Soultrader]

Current long setup for the day. Concept here is seeking value slightly higher than the previous 2 day overlapping value area. Price gaps up above this 2 day overlapping value area creating slight imbalance. Hence, looking for VAH to hold.

Entry at 1356 with stop @ 1353.

Volume is also kicking in with narrow candle body showing demand meeting supply. Also market internals shows a new $TICK high. This added confirmation of the support at VAH.

[Soultrader]

Below shows first exit at the 61.8% retracement. Play based on volume & price analysis, internals, and market profile levels.Also holding bias from earlier post regarding overlapping to higher or higher value placement for the day compared to yesterday.