Trading with Market Profile

I used to be an instructor and market analyst for IOAMT. I'd be happy to answer what I can for you.

 

I was wondering what time frame your chart ends for the Emini S&P as It is showing a closing price for today of 1209 but I have it closing at 4:15 ET at 1203...perhaps you could help me out here.......I was also wondering if the floor traders are using Volume Market Profile or just really looking at the high/low volume numbers themselves......and disregarding the 68 - 70 % Value area numbers...thanks...great stuff

Bruce

 

That last post was Directed to you , Lisa and the data on the Chart -x site....thanks....

 

Hi bundlemaker,

Last month on ES, we broke through 2 previous instances of Institutional Capping. We pushed below Institutional Capping on Katrina Hurricane and we pushed below Institutional Capping on London Terror Attack.

We seemed to made a near term bottom in October but I did not see anymore sign of Institutional Capping buying last month.

Was there a Institutional Capping buying in October that I missed seeing ?

Thx

 

Personally, I don't pay attention to "instutional capping". While it does, often, portend very short term support and resistance, that's about it.

The reason the levels you mention were broke is very simple: the market is at longer term supply levels. As any market reaches price levels representing significantly overwhelming supply, shorter term support levels will fail over and again.

Now, if I were day trading (which I no longer do) I'd consider using the "institutional" levels, but only on trades aligned with longer term supply or demand.

Edit: Winsum, what day in particular are you questioning in October? I"ll look and see what I can tell you.

 

bundlemaker,

October 13 and 19th.

Also, lately the daily range on ES has been expanding. Do you see any significance with this ?

TIA

 

I figured you'd mention those two days. On both occaisions, longer term demand came into play. I refer to supply and demand in a strict sense, but use a simple, but proprietary method for determing the levels (ie. not really volume profiling but a close enough surrogate, and there's more to it than just volume at price, if you're in Bills room, I don't do it how he does)

The market has a single fundamental behaviour- balance to imbalance and back. This applies to volatility also. The underlying cause (not really a cause, more like a scenario) for increasing volatility is a widening gap between various supply and demand levels.

Hope this helps

 

Our charts are updated as soon as the CME’s data is available; unfortunately it is early next morning. We get the CBOT’s data at 6:00p.m. CST. The data table under the charts specify the dates.

Look at yesterdays VP around the close, it confirms the resistance the market is having, so far. Also I like the VP around yesterdays low and the previous days closing price. It confirms a standard bar charts support and resistance points.

 

anyone have a link to Market Profile indicator for Tradestation..


been on their forums and I can't seem to find one that is free


tia!

 

TS does not have a true market profile. They do offer a "price distribution" indicator. IMHO, it's not very useful. There are some 3rd party app's that allow true volume profiling and market profile.