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TinGull

Open outside of value

By TinGull, in Market Profile

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TinGull    10

TinGull
Posted

Just a quick thread to talk about opening outside of value but within range. The ER today was the winner of the "Action Award". Everything else was slow as all heck.

 

Notice how we opened outside of value, but within the range from Friday, and then we auctioned lower. It did take a little while to get to the value area, but when we entered it, it was a signal that we may in fact trade through it to the VAL pivot. Whenever we have an opening outside of value and we trade back to the value area and into it, there's a good probability of it trading through the value area. We had almost a 4 point value area in the ER, or 400 dollars per contract. That was reached in a little over 2 hours.

 

Just another good thing to watch out for when watching MP levels.

5aa70dc0463a4_011607ER.thumb.jpg.9438991e1ed02af785a9bb71a0e7ce11.jpg

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MrPaul    10

MrPaul
Posted
Just a quick thread to talk about opening outside of value but within range. The ER today was the winner of the "Action Award". Everything else was slow as all heck.

 

Notice how we opened outside of value, but within the range from Friday, and then we auctioned lower. It did take a little while to get to the value area, but when we entered it, it was a signal that we may in fact trade through it to the VAL pivot. Whenever we have an opening outside of value and we trade back to the value area and into it, there's a good probability of it trading through the value area. We had almost a 4 point value area in the ER, or 400 dollars per contract. That was reached in a little over 2 hours.

 

Just another good thing to watch out for when watching MP levels.

 

Thanks for the post Tin! I was reflecting on that same concept today, very interesting to say the least...A great method to employ.:cool:

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TinGull    10

TinGull
Posted

With my small amount of daily pictures I've got, about 65% of the time it opens outside of value and goes into value, it cruises through.

 

Definitely something I would love check into further.

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TinGull    10

TinGull
Posted

Also to note...I had just re-read part of the bible (Mind Over Markets) and the value area rule is when there are double TPO prints in the value area of the previous day that a good chance is it will cruise through. Also a close on the lows is a sign of market weakness, which we saw in the ER2 today. Very interestin stuff!

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