monad

I can see that this is a great way to blend Market Profile with Taylor. 1. Hence I take it you do not keep a book. 2. How would you now set out strategies and tactics for today without calling today as a sell or ss day etc. Say market opened up low ie. with a gap down but still above yesterday's low, what would you be looking to do, then say once it gets above yesterdays high, again what is the strategy. 3. OTOH, if it opened low and kept going south what is the plan of action. 4. Obviously if it opened high above yesterdays high, you will be looking to short.

Great insight Frank, BTW do you keep a book as per Taylor on the instruments that you trade. ie. avg. decline, avg. penetration, avg rally etc. Presume your primary focus is on ESmini, if so what cycle are you on, I mean what is today as per your count, a Buy, Sell or SS day or you term them Day 1, Day 2 and Day 3 respectively.

Frank, Wonder if you have made a study of failure to penetrate Buying or Selling Objectives, for in Taylor's time they occurred 40% of the time.

Frank, I see what you are getting it, and it would be a good idea to follow up in the days to come, i.e as the market unfolds day by day. That way I guess you get a better grasp of the perspective.

Frank, In Taylor the emphasis is on whether or not the objective is made FIRST or LAST. i.e on a BUY day, buying objective(LOW) is made FIRST if their is a decline from SS day high to that Low, however if the LOW is made LAST on the BUY day, then that would be Buying objective made LAST. Similarly on say Short Sale Day, ideally the selling objective (HIGH) should be made FIRST for shorting, however if the day ends on the HIGH, then that would mean the Selling objective has been made LAST, one would not short then but wait for the BUY day. Hope I am not beginning to write or sound like Taylor.

Interesting take, Frank, Perhaps you can follow it up in forthcoming days to better illustrate the concept. Anything that enhances Taylor is worth pursuing.

Do you measure the rally only for the Buy day or from the Buy day low to sell day high or Short sell day high. and the decline as from SS day high to buy day low.

Have a hardback copy, p30 does not match, what is the chapter , is it No.5

I am looking at chapter 9 "a short sale at high of Buying Day made first". When you said 10.30 time in your previous post, presume it is 10.30 EST. Today it would be a sell day, prices are in a tight range.

THKS elovemer, would you go long after the decline, afterall it is a Buy day and a decline is requied from SS day high.

Understand what you saying, myself have gone through the book over 20times now and with help of WHY? have managed to understand with greater clarity

I think you may have misunderstood. I was not being critical of you, it was more a reflection on taylor method which so many find difficult to comprehend. However if they had patience and persistence to keep studying the method, it will eventually make sense. Like yesterday when it was a Sell day and the market kept heading north. Similarly there are Buy days when prices keep dropping whole day long;).

Well that is Taylor for you, small wonder folks give up on this methodology:confused: Patience and persistence required but who wants to bother with that?

Thanks a bunch mitsubishi, yes the explanation with charts are great to understand your viewpoint. Interesting analysis. Thanks for the links : have the Taylor book, infact have gone through it a number of times and with the help of WHY? and Richbois have learnt a lot . As far as support/resistance levels are concerned, I am not much into elliot etc, but just use the previous price ie. swings, congestions etc to mark off . I believe elliot waves are discussed much more on Richbois thread: http://www.mypivots.com/forum/topic.asp?TOPIC_ID=3237&whichpage=76 I am sure you posts there also would be very much welcomed. Look forward to more input and discussion with you. well it is Monday, should be very interesting this week, Say do you take in to account the Globex session. as prices overnight have reached above friday's high on ESmini (M9)

[/quote It's still my view that the rally has been halted at 803,confirmed again today when prev support 789 became resistance.Market closed right on the 768 support.Rather than buying on a buy day in the cycle,when your view is that the trend is down,i see this as the smart money holding up the selling to stop the market 'running away' from them and since monday will be a sell day,they held it at 768 for the last 2 hours and into the close so they can push up the futures on sunday/monday morning in order to start selling again higher up.Then tues is a short sale day which could take us to 734 support where the rally could continue.The pattern today was an inversion of monday. R10 (x2) worked well again the high 788.9 close 768.5.and there was a 10 point bounce off the low 766 to 776 before the selling resumed....and some people think the market is random... have a nice weekend Interesting take, you obviously have grounding in Taylor methodology, would appreciate if you could take the trouble to illustrate with charts, that would make it a lot easier to follow, BTW what is R10(x2)

Yes WHY? 9.30EST. Your comments "By the count you guys are taking today 2/18 it would be a SS day. The Taylor play today would have been the shorting shortly after 11 a.m. and covering this afternoon. By my count today 2-18 was a buy day and the Taylor play would have been going long around 10.a.m and exiting around 11 a.m." I presume the times you mentioned are chicago time CST. but the chart should be the same ie. 18th Feb, Wednesday.

WHY? Here is the 5min chart: As you can see the market gapped up on the open, so being a SS day, guess it would be o.k to short. The next opportunity came after 12 when it tested the opening High. However if it was BUY day then the long was around 10a.m as you pointed out.

In your post of 256, you mentioned: "When in a bear market look to short on high made first on buy days and on Shortsell days. Look for buying day violations to happen more often for taking QUICK long positions but do not stay in them long" 1. So a short could also have been taken at the open on 2/18, on a SS day. The shorting opportunity after 11a.m would be a retest of that opening high and also premarket high of 795 level. 2. For Buy Day, a short was also viable on the open followed by a long as per you post of 256.

In your post of 256, you mentioned: "When in a bear market look to short on high made first on buy days and on Shortsell days. Look for buying day violations to happen more often for taking QUICK long positions but do not stay in them long" 1. So a short could also have been taken at the open on 2/18, on a SS day. The shorting opportunity after 11a.m would be a retest of that opening high and also premarket high of 795 level. 2. For Buy Day, a short was also viable on the open followed by a long as per you post of 256. 2.

Great insights WHY? on BUY day nuances under ideal and non-ideal conditions. Earlier Hakuna inquired about a statement from Taylor. I am somewhat curious, it appears a typo error, however you know more about this stuff than most. "On page 72 in the "Pertinent Points" Chapter the following is stated: "There seems to be about two swings a week, one Upward and one Downward. In the Bull movement, the one downward will be longer and is the swing that causes the failures to penetrate the Selling Objectives and the cause of Buying Day Low Violations." Should'nt it be Bear movement instead of Bull movement? From what you have posted earlier in post 451, It sure looks like a typo error. Weak closings forecast failures to penetrate ‘top side’ on the rallies after declines, while strong closings forecast failures to penetrate ‘down side’ on the declines after rallies. p47

Excellent analysis Richbois and WHY? once again highlights what you guys pointed out earlier regarding handling different days as identified per your own book and sticking to the rules as laid out by Taylor. I suppose in this day and age , we have to adopt to conditions intraday, price action on the SS day (2/05) within first 60min after a gap down clearly suggested buying pressure coming in, besides the fib levels and MTP DP mentioned by Richbois, there was also the daily Pivot Support and the support to the left provided by Low of previous BUY day and a zone going back to 15th Jan, so there was a lot going for a long trade. Ofcourse this would be going against Taylor's rules for a SS day and the trade could have been stopped out depending on how the trade is managed. Use of trendlines on lower time frames with price/vol would certainly help in such instances. Uncertainly is always there, same would have applied to the scenario if it was taken as a Buy day and long trade taken with the Low made first criteria.

Eiger, You have presented some very valid points. I like to use the best of both worlds. As mentioned before, if somebody disagrees or has strong views against any method, best to leave it alone and move on, that way there is no room for unneccesary confrontation.

You see I am kind of a simpleton, nature having provided a rather simple mind I am afraid but thankfully with clarity in thinking, hence this bigboys in dark glasses, polar/grizzlybears,tigers/palm trees,cactus etc stuff scares me silly, used to think about all that once, got me chasing my tail therefore now when I look at charts I ask myself, is there more demand than supply and vice versa, is it meeting resistance or support, couldn't care less as to who is doing the buying or selling and why? This rather simple approach allows my simple mind to focus and to process less info. regarding what BB's/polar bears/rest of the animal/plant kingdom are doing or not doing:) guess what, works fine for me. can only speak for myself, others may not find it so.

SM, The chart attached to your post is not my chart.

traderscode.com, believe some of it is still under construction