And I'm sure many others as well... Still stuck in a range here, but I would assume if we can get some momentum above 4050 - we should see at least 70. And unless it's an Inside Day - 4080 should be on the table. It's tricky as we've had similar patterns over the last year (s) where it looks like the bottom is in for the day and then we sell off. With FOMC tomorrow and last trading day of the month today I think everything is possible today. Yeah. I do keep an eye at the $TICK. It looked really nice this morning until about 10:10 which coincided with that large 1-minute down bar.
Yes. I use naked POC (NPOC) levels... they provide excellent target and stop pricing levels for me. The price levels are magnets, IMO. There is no "lookback" period. There is periodicity. Control of a lookback period would be a feature of the software being used. For instance, there are like 4 dozen settings for a VbP (volume by price) profile in Sierrachart. Start and end date-time are settings. As is bar-count, fixed time, and more. By default, the profile is based on all available data the software has access to. That is in addition to being able to "draw" a profile where-ever desired. Certainly while "learning", my advise is stick to conventional periods. Daily and weekly work well. For scalping, a profile of say, each 5 minute bar can also be useful. HTH
Could you share a bit more how you use it? I'm not sure I find it reliable enough, so not really a big part of my toolbox, but I'm just keeping it there out of habit. For example, today's 10:10 low reading and that 1-minute bar happened at the same time, so the $TICK really just confirmed price. Thanks. Need to check those out. Isn't periodicity and lookback period the same? Specifically, what I meant is that if choose to plot a VP on my continuous 60 minute chart it's up to the user (me) to choose what length to plot it. This means there's an subjective element and I don't like that. Recently, I've just been using the last major swing high and low, but now that we retraced almost the entire move I'm uncertain what would be the correct start/end point. Whereas if I choose to plot the VP on my last entire week in RTH that's always the same. There's no discretion on periodicity. I hope that made sense.