Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TinGull

YM Analysis

By TinGull, in Market Profile

Recommended Posts

TinGull    10

TinGull
Posted

Yesterday in the chat room someone had asked what might happen tomorrow (being today now). TPO counts shows sellers in favor of the win. Sure enough...now the YM is printing 44 below its close.

 

When more TPO's reside above the point of control we have the sellers in force driving price back down from the top.

The profile from yesterday is interesting because value took place almost completely under the Initial Balance. Same thing happened on 12/21 adn what happened then? The YM closed at 12512 on the 21st and opened up about 20 points lower to never see that opening price again and closed nearly 100 points lower. Interesting to see that. IF we were to open inside of value...what kind of range could be expected? Well...I'd say no matter what we could potentially see a 100+ point range day, but looking to be right around 100. !0 day ATR is showing just over 100.

 

How could you play it to capture a good part of the range? Let's see where the most likely candidates are, shall we?

 

When we have the first period (A period on my charts) setting the tone, we want to see what the B period will do. This consists of the Initial Balance. Notice that in the B period, we auctioned lower by a touch, but mostly ranged about 10 points either side of the open of that period. Then..we see C period open higher, but get rejected above B. This is an imbalance. A good trade location was right around that 510-513 area, which was also a weekly pivot and the previous days high. We see that from there, we auction much lower to the low of 440ish, which was the POC from the day prior.

 

thum_44245a4ef9bcf4ae.png

Noticing these kinds of imbalances quickly helps you get great trade location.

 

Going to the upside...you see that E and F periods stalled at 438, both periods. When you see this type of ledge forming, and then the FAST rejection in the G period, we're heading up. If you placed your order at the POC, 442, you could place your stop around 434 and know if you got stopped, balance is being found in that area.

 

thum_44245a4f08c38866.png

Points to watch for:

 

Resistance:

496

532

513

 

Support:

405 is a key level, big buyers sitting there

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
Go To Topic Listing

  • Topics

  • Posts

    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      MNST Monster Beverage stock, top of range breakout above 60.45, from Stocks to Watch at https://stockconsultant.com/?MNST
    • zdo
      AI

      By zdo · Posted

      ...hallucinates.... Student: “What if we gave the monkey LSD?” Guru: “The monkey already did LSD”
    • analyst75
      How did you suspect you have cancer?

      By analyst75 · Posted

      Question: To those that had/have cancer, what were the signs that made you think “something is not right here” to make you go see a doctor? Answer: So, 5/25/2018, I woke up, got ready for work, and as I walked to my car, I started gagging. Like something was stuck in my throat and I needed to clear it. And then it went away.   But 10 minutes after that, I was T-boned at 40mph on the driver side door. But what made me see a doctor was while my muscles felt better and bruises were going away, the gagging still continued, I started having fevers, my neck felt swollen, I was having such a hard time breathing, and I'd have random sharp pains in my chest, but not from where the seat belt saved me.   2 weeks after the accident, I finally see an urgent care doctor, who looks me over, tells me I'm fine, but luckily requests a neck X-ray. And I ask for a chest X-ray, which he rolls his eyes but let me have (most of my pain was in the neck, so I understand).   The very next day, he calls and says “So, that chest X-ray shows there's a 4 inch mass on your heart and lungs, and your lungs have been filling up with fluid, as well as in your pericardial (heart) wall. We need you to come in tomorrow.”   Turns out the big mass, due to the accident, caused my heart and lungs to tear and fill with fluid, the swollen neck and gagging was caused by 2 metastasized tumors, and the fevers and weight loss were symptoms. Stage 4b Hodgkin's Lymphoma.   But thankfully, we went very aggressive with chemo (and had a lot of bad side effects that don't normally happen to patients), and now I'm about 16 months cancer-free. Yay lucky X-rays! Rachel Jurina, Quora Source: https://www.quora.com/To-those-that-had-have-cancer-what-were-the-signs-that-made-you-think-something-is-not-right-here-to-make-you-go-see-a-doctor   Profits from free accurate cryptos signals: https://www.predictmag.com/  
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept