[alex_laxya]

Elongated profile with steady distribution, usually such kind of profile is healthy and indicates strength but volume is an issue, b'cuz of sun outage few brokers facing connectivity issues
2500 pe witnessed large activity, o.i. jumped by 12 lk which is again indicates the strength.
Best wishes for weekend
Alex

[suriNotes]

I am not a follower of Elliott Wave theory but BSE's SENSEX (weekly) chart caught my eye for EW formation.

Here is SENSEX chart with Elliott Wave and Parabolic Arc pattern. Look for the Symmetry in Wave 3, Wave 5 lengths. Also, Parabolic Arc pattern retraced to 62% of the entire prior move.. Could correct more??

** This chart is not MP based chart, but I thought it may be pertinent Indian Markets chart that I follow. **

Regards,
Suri

[anamika]

hi
alex

saw ur codes for amibroker for Mp
somethng wrong in copying pasting

can u mail me in my id the appropiate afl which u have mentioned
anamika_27122000@yahoo.co m

would be thankful

[bharatk8]

Originally Posted by alex_laxya »

Hi,
didnt able to post last night, got bz with few things so pardon me ..
To understand the market perfectly yesterday's Market Profile is very important, especially if you are a day trader, it gives a referral point..here is the list of to do list to prepare for next day market open, as said in first post there are no shortcuts to understand the principal -how market behaves -in contextualize way.

1>Review yesterday’s profile for clues as to what to expect today. Make
a note of possible trades, based on varying developments.

2> Review the overnight markets for any unusual price movement or
early indications for the day.

3> Compare the expected opening to the previous day. Is it within or outside
the previous day’s range? Value area? To the upside or downside?

4> Relative to the expected opening, identify three references points,
both above and below the expected opening. These could be the
previous day’s high and low, weekly high or low, the top and bottom
of the previous day’s value area, or the high or low of a recent trading
range. (There is no set answer—you should be guided by your past observations
of where price slowed or accelerated, as well as past areas
of heavy or light volume.)

5> Note what kind of opening is occurring, as well as what you’d want to
see in order to quickly judge the resulting directional confidence.

6> Note whether or not there is clear attempted direction, and whether
that activity is supported by volume.

7> Does the market appear to be within balance or out of balance?

8> Visualize the remainder of the day. Will it look elongated, squat, fairly
normal like a bell-shaped curve, and the like. Note any unusual shapes
or patterns that may suggest something unexpected is happening.

9> Estimate how much effort is being expended to move price directionally,
and note what that suggests about the inventory conditions of
your competitors—too long, too short, above water, below water, etc.

10> If there is a major news announcement scheduled, be aware that there
could be unexpected volatility. Let the market provide short-term interpretation
of resulting activity by observing developing structure.

Unless the day-timeframe structure is extremely strong and unlikely
to be reversed by such an announcement, we recommend that day
traders be flat in front of significant numbers.

trading of NIFTY starts at 6.30 AM(IST) on singapore exchange.Have you tried to check it as it is going to be important in predict expected open as mentioned in your post.

[marcj]

Hi

I just finished a PHP Market Profile Chart. It is free to use and plots 20 days of 30 minute MetaStock formated data. I also plot clear candle sticks right over the Market Profile data so you can see what really happened in the candle.


http://www.trading-seminar.com-> Indicators -> Market Profile.


thanks