mokwit, Is there a website that shows the opening call level ? What does HVL stand for ? What does DBY stand for ? TIA
Market Profile Books & Articles Suggested Reading Steidlmayer on Markets Peter Steidlmayer Mind over Markets Dalton Technical Analysis of Stock Trends Robert D. Edwards and John Magee Technical Analysis and Stock Market Profits Richard Schabacker, Donald Mack here you go!
my guesses ... High Volume Level. basically a volume based perspective for POC. you can also often see High Value Level, Upper Value Level, Value Area High, Upper Value Area, and so forth interchangeably used. but given the context, i am guessing it is Volume in this case. Day Before Yesterday hth take care omni
Here are some charts showing how the market reacted to Market Profile levels over the last week and a half for 4 different symbols: ER2 (AB), YM, ES, and IBM. Each chart is a 30 minute bar chart with a time template of RTH on it. Days are alternately colored so that you can distinguish which day is which. The 3 horizontal lines are VAH, POC, VAL. If a line is missing this is probably because it overlaps with another.
Here's the Euro using market profile charting on the daily chart. It works for Weekly, Daily and Intraday time frames. You can see areas of support / resistance very clearly.
Short position: I've set a target of 1.1739, just above a Fib target price. Any other opinions? Appears to be under .382 Fib, heading down.
Here's some other tools you aren't likely to find anywhere else. The top chart is a Level II display of all the major banks and forex dealers bid/ask prices. Whenever a bank raises its ask we color it green, whenever it lowers its bid its colored red. This tool is very useful for determining if the market is in a choppy phase or if all banks and dealers are marching up/down together. A real confidence booster. The middle chart shows some other original tools. I have the 60 min statistical avg high/low plotted. You can see on most bars that the Euro bounces off of it almost to the pip. I have our squat bar and Trend Reversal indicator plotted on here as well, squat bar is color coded green and red and trend reversal is coded yellow. There are a total of 13 signals on this chart and only one was a loser. Historically though it works about 65 to 80% of the time not 92% like it was today. The bottom chart show the volume profile on a 240 min chart. I've found this is a great time frame for the bigger picture and lets you see good support/resistance levels intraday. The white,green and red lines are the Pivots. If you are below the white line you should look for shorts and above look to go long. The yellow line is one of our best tools and is the volume weighted avg price. If you are below yesterdays VWAP you should look to go short and above long. Same thing for today's vwap. If the market is above today's VWAP yet below yesterday's VWAP or vice versa then trade more cautiously or take smaller profits.