ES Monday 7-25-16

.I'll fine tune in the morning.......here is just fridays profile...been monkeying with Tos and the red arrows are my key areas


Edit: 843 a.m....the overnight has confirmed the 67 - 68 arrow as an area where price has traded back and forth through once again so a good magnet especially if the midpoint can hold in the same zone before Rth opens. Also the Overnight dropped down to the 64 area arrow ..so my plan would ideally see price weakly push away and hopefully lower from that 67 - 68 and look for longs back to that.

This plan would also incorporate the idea that strength on Friday spills over early into Monday idea...


at a minimum we would want to see that 66.25 swing ( from the overnight) get taken out before trying any long trades...even so we are talking about very small ranges once again with minimal profit targets. It's hard to be patient in low volatility but more it's even more important to be consistent and not change your style.

Based on my developing studies of ON, my inclination would be that taking a break of O/N high will be successful.

Good luck to all.

Bruce those key areas looks like fib numbers.

that would be cool for confluence... I don't run fibs as these are just high and low time spots but if the fib players want to join the party at the same areas then that would be great ....I just edited original post but the lines will stay the same for me today...all I did was let the overnight confirm the areas

Originally posted by gto11520

Bruce those key areas looks like fib numbers.

Hi Bruce,
I have the same chart (see below). Why is it slightly different from your chart? Look closely and you will see the difference. Why is it different?



Best Regards,

Simon

you seem to have more "stuff" added as indicators etc....I'd really have to see a chart of yours with just the volume profile indicator with the settings I posted on Friday...sorry I can't be more helpful

Originally posted by Simonig

Hi Bruce,
I have the same chart (see below). Why is it slightly different from your chart? Look closely and you will see the difference. Why is it different?

I Could not insert the image to this message board. Here is a link to the image: http://screencast.com/t/Ht3W3QnsQnMw

Best Regards,

Simon

Hi Bruce. The indicators I have are just the daily and weekly pivots and are separate studies from the Volume profile study. I noticed that the volume profile gives different readings depending on the number of minutes each price bar represents. This is strange to me. How many minutes are your bars? The profile also changes if you include overnight.

Best Regards,
Simon

ok, I run one minute bars as I am more interested in the high and low time spots and not really the Value area...I spoke with the folks at TOS and they confirmed that theirs is not really a true VOLUME profile but the smaller the time frame the closer you will get to Volume profile value areas.......I mostly use the day session and just confirm my areas with overnight action.....with that said you can understand how adding in the overnight will change the value area lines ( it usually doesn't change the high and low time spots) but if you use a bigger time frame then it can alter the high and low time areas...I'm more concerned with break out points that push away fast and leave little time - these are low volume spots and are called the LVN's by most volume profile/Ft71 type traders and . the place price went back and forth through...these are what the Volume players would call an HVN ala Ft71 type of trading....( I'm sure you probably know all that anyway)for me I like the time and what it shows as it displays more of a price action approach. If I am looking at what happened last week then I switch it to 5 minute time just to fit it on my screen

Originally posted by Simonig

Hi Bruce. The indicators I have are just the daily and weekly pivots and are separate studies from the Volume profile study. I noticed that the volume profile gives different readings depending on the number of minutes each price bar represents. This is strange to me. How many minutes are your bars? The profile also changes if you include overnight.

Best Regards,
Simon

Bruce I like the way you think. Keep it simple, you use auction market theory to determine key areas. happy trading

long trades from below that 66.25 swing will be trying only for 67.50 as a first target.....I'm hoping they can push down further first on this open by at leat two points from the target price

us longs ( second try for me ) need price to get above that 64 - 65 otherwise we run the risk of seeing price drop to 61.50...I'm hopping this can pop up for gap fill and 67.50...59 is also another key number for me..c'mon buyers...I think u have faked out sellers enough

Hi Bruce. The trading was wild today. I got in at 61.75 and it went in my direction for one point and gave it back quickly, went against me for two or three ticks and I sold at breakeven. I got out because I could not explain the wild movement where the sellers were dumping and taking it down two ticks at a time every time it wanted to go up. I don't like being in if I can't explain the movement. At the time I went long there was a divergence in the AD line but as you saw it did not hold. Good luck!! hope for better tomorrow.
Best Regards,

Simon