Now some may not like trading off a 22500v chart. It gives the broad strokes of price movement but disguises the tests are retests that I like to...
and our next chart includes the daily, weekly & monthly pivots as well as the Previous Day's Value Area High (at 945) and Value Area Low (at...
and then we scroll back to the right to see the result of our work. and we mark the tests of each of the S/R lines we drew using the previous...
On that same chart, we place horizontal lines at the highs & lows
Okay now we scroll to the left so that same chart displays the overnight and the previous day's price action
Here is a step-by-step approach that often produces good results We begin with a "blank slate". The attached chart uses 22,500V candles. I have...
and before we sign off here is the same chart again and as can be seen we have tagged the 930 pivot. This trade (if one were on it) would have...
For those looking at this along with me this evening we did this because we want to show some of the possibilities for developing a systematic...
and here is the same chart with Monthly and Daily pivots in place Notice that price continued to move south and may reach down to tag the pivot...
Here is the same chart with weekly pivots in place. Notice how price tested the weekly pivot and failed.
I hope the preceding charts answer your question. I prefer not to give hard and fast rules as each trader needs to do a bit of research on this...
and here is the same chart using 5 min candles Notice how it becomes more clear as price retests but fails and falls. In answer to the...
Here is the same chart looking at the 15 min candles Notice how price takes out the line and then retests
Here is tonight's pre-market analysis of the recent action, looking to quantify suppport and resistance To obtain these S/R areas, I review...
Thanks for dropping by with your valuable post on MP Clearly your understanding of markets is limited (probably by your lack of intellect)....
Thanks for the kind words JW and Xburbx As regards MP (Market Profile) I like Dalton's work in "Mind over Markets". I also like the nice work...
Sadly you are the first on my ignore list Congrats
No, I'm not a retail trader
I doubt that its a coincidence. If you took a moment to do your own homework you would see that protocol works well in mean reverting markets....
http://www.elitetrader.com/vb/showthread.php?postid=2455084#post2455084 Since this post, I bought the previous value area low at 934.25 The...
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