Im reading the CME course on Market Profile and in the description of the overall auction process they end the chapter with: <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1409553">
I was wondering how to determine what's considered increasing and decreasing vollume... A lot of times, I can see either 2 or 3 bars that are probably double the standard average sized bar... and everything else is just mainly random... also, does anyone have any idea where I can find the SPX, SPY or ES graphics beyond 1 decade? Free would be great if possible. Thanks
Hi OC', could you post a chart of this it sounds interesting as a viewpoint... i like to sometimes post Hourly Channel Charts so i would like to see your daily channel chart if possible... thanks... cj...
You might find a review of Gaussians, as well as a review of my posts with respect to 'Determining the size of the Forest' helpful to your understanding. Gaussians always match the channels - always. If they don't, then you are not looking at the correct channel (Forest) size. In an up channel, From the most recent High across the channel back to the right trend line volume will always decrease from the high back to the trend line - always. When price breaks through the right trend line, volume increases. Increasing or decreasing volume does not always refer to bar to bar analisys. If your channel (Forest) is wide enough, decreasing or increasing refers to the channel as price traverses it - not bar to bar. If price requires 14 bars to retrace back to the right trend line, then you will have decreasing volume from the Point where Price began its retrace back to the trendline. "A lot of times" isn't a very accurate measure of the past. Besides, measuring the 'standard' sized bar has nothing to do with the PV Relationship. What you call 'random' represents the market acting within the confines of the PV relationship, but at a finer resolution - or smaller channel. Someone feel free to correct me if I am wrong here, but didn't the SP E-mini Contract begin in September of 1997? If so, you should experience some difficulty finding data 'beyond a decade.' Good Trading to you. - Spydertrader
My comments were based off of the intraday chart I posted not the daily chart. We headed into Friday's close in the dowanward channels I mentioned which are in my pic attached above. I do like your hourly charts and they are great for confirming larger picture trends. I started looking at the daily Es chart for channels but it is too slow compred to the iintraday ones. I did overlay channels on daily NDX charts as well as NQ futures (daily) and the channels develop nicely and started trading some spreads off of those channels on NDX daily charts.
New home sales figures at 10 AM. Heads up. Spyder, if one was to bracket this market as you mentioned earlier, how do you get into the position, with stops ? Thanks.
Just out curiousity, which would be the news source/website that is known to be the first with this data? Thanks