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CL Light Crude Analysis TPO/MP/VWAP/VPOC
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CL Light Crude Analysis TPO/MP/VWAP/VPOC

  #1301 (permalink)
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They're significant reference points. Yesterday's low in Crude is a good example along with the others I have here. Today's low was a poor low signifying that there were shorts caught down there.

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Which in today's case was also an "old school" inverted head & shoulders coming out of major support.

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An interesting view from vwap

VWAP reorganized

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"If I agreed with you, we'd both be wrong."
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Economics - Stocks & Commodities - Market Profile Basics


I found this article and thought it did a good job summarizing market profile in a very short read. I did not join the site, and so reading it online is the only option available to me. Hope some find this helpful.

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When I first discovered Market Profile, I did not like it. Several years later taking a second look, understanding far more about market movement now than when I first tried it, I am really enjoying it.

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When I first discovered Market Profile, I did not like it. Several years later taking a second look, understanding far more about market movement now than when I first tried it, I am really enjoying it.

I feel the same way. I've been chasing my tail with intra-day bar patterns for years without considering the big picture. Love the idea of having a game plan for the day.

Now 'all' I need to do is learn it well enough to trust it and implement it. And learn to put the stop in a logical place. And learn to stop tightening my stops. And learn to let the trade play out to a target. And learn proper trade management. Did I miss anything?

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My take (note: I'm a rookie). Looks like we're forming another bracketed area on the RTH chart, and will open close to the center. Haven't figured out how to combine daily TPO's yet, but that would be handy right now.

There are small single prints to the down side at 90.05 - 89.99 and a NPOC at 89.75 from the 4th. Yesterday's POC was hit in the ON session, but I don't know if that matters. Is it still a NPOC?

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The ON session is pretty balanced and looks like we'll be opening near the bottom of the ON, but inside of value from yesterday's RTH.

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Downside action:
I'll be looking for initiative selling to test the POC from yesterday. That will be right around the ON 2sd, and if it holds, I'll go long there. If it doesn't hold, I'll be looking for a test of yesterday's single prints. There's not much there and I don't know if it's enough to overcome the attraction of the NPOC at 89.75, which will be a great place to go long.

Upside action:
Would be looking for a short at the top of the bracket, around 90.91 - 91.08.

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My take (note: I'm a rookie). Looks like we're forming another bracketed area on the RTH chart, and will open close to the center. Haven't figured out how to combine daily TPO's yet, but that would be handy right now.

There are small single prints to the down side at 90.05 - 89.99 and a NPOC at 89.75 from the 4th. Yesterday's POC was hit in the ON session, but I don't know if that matters. Is it still a NPOC?

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The ON session is pretty balanced and looks like we'll be opening near the bottom of the ON, but inside of value from yesterday's RTH.

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Downside action:
I'll be looking for initiative selling to test the POC from yesterday. That will be right around the ON 2sd, and if it holds, I'll go long there. If it doesn't hold, I'll be looking for a test of yesterday's single prints. There's not much there and I don't know if it's enough to overcome the attraction of the NPOC at 89.75, which will be a great place to go long.

Upside action:
Would be looking for a short at the top of the bracket, around 90.91 - 91.08.

there should be a "merge session right"in the tpo parameters...start with prev day tpo,and keep merging right

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there should be a "merge session right"in the tpo parameters...start with prev day tpo,and keep merging right

I'm using the Rancho stuff. I don't see that option. I'll contact their tech support.

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Watching the crude open this morning before my market opens. Note how the 90.68 again comes into play right off the open. For me that's a blind short, with very low risk. Targets are 90.45, yesterday's most fair price, and the 90, which is the low of both Friday and Tuesday. No reason to not just take that.

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Edit: If this were to get stopped and the market begin trading above, as it looks like it might, I would scratch or take a small stop, and evaluate the possibilities from the long side--the question is, is the market accepting these higher prices above .68 which it could barely do yesterday and the day before? If so, I look to join the long side. If not, reconsider the short or just watch and note what the market is trying to do around this important price. Keeping the risk small and putting oneself in a position to profit is the most important thing IMO.

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Watching the crude open this morning before my market opens. Note how the 90.68 again comes into play right off the open. For me that's a blind short, with very low risk. Targets are 90.45, yesterday's most fair price, and the 90, which is the low of both Friday and Tuesday. No reason to not just take that.

Why is 90.68 a key level? I see a 5 min S/R line there, but nothing MP or VP. What am I missing?

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