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CL Market Profile Analysis
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CL Market Profile Analysis

  #21 (permalink)
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CL profiles for today 3/12/10:

I've included and overlay chart (two overlays) and a reg trading hours chart. I think today would have to be considered bearish, but considering the run up CL has had it was due for a pullback of some sort. How deep it goes is anybody's guess. Does today change the Bias? Good question. I don't know. Maybe for the short term, but time will tell.

Things set up very nicely for a short at the 83.00 area. I entered at 83.00 and was stopped out at 83.15. I think the high was 83.16. I did not have the guts to re-enter.

David

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CL Market Profile Analysis-031210-mp.jpeg   CL Market Profile Analysis-031210-mp-overlay-rth.jpeg  
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  #22 (permalink)
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David,

When you say regular trading hours, are you including the entire 8am - 2:30pm EST block?

Thanks for keeping up this thread...

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  #23 (permalink)
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CDesai13 View Post
David,

When you say regular trading hours, are you including the entire 8am - 2:30pm EST block?

Thanks for keeping up this thread...

Is it EST or CST. Isn't the Pit session 8-2:30 Central time? I had the chart set to 6-12:30pm PST which would match up with the central time of 8-2:30, but when you commented on the volume as early as 8:00am eastern I changed the chart to start at 5:00 am PST. So eastern time the block is 8am-3:30pm.

David


Last edited by David_R; March 14th, 2010 at 03:25 PM.
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  #24 (permalink)
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Here are some MP charts for 3/15/2010:

I've included an overlay like Fridays only with added data and I've included a chart with a lower overlay and the upper daily individual profiles.

Bias has most likely shifted for the time being to down. Not sure how far that is, but with falling POC's that's what I believe to be the case. The support indicated on Fridays chart was taken out over night and then acted as resistance today. Notice how price is being accepted inside the lower overlay and balancing (bell curve). I would assume we come down to the lower value area of the lower overlay at a minimum, but we can take it one step at a time and see how things develop.

David

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CL Market Profile Analysis-031510-mp.jpeg   CL Market Profile Analysis-031510-mp-2.jpeg  
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  #25 (permalink)
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Here is a quick chart for today, 3/16:

I still show the overlays, but price has come back inside the upper overlay and seemed to find acceptance. To be honest, this took me by surprise. I guess that's what the market is supposed to do, surprise us so it can take our $$. That is also a good reason not to have too many opinions about what the market will or will not do. In the overnight hour for Monday and early Tuesday price did not take our or test the low of Monday and I believe the overnight session created a higher value area than Mondays. I would consider that a bullish sign and if I was smart enough to check that going into today I may have had a different Bias. Having gone from and upper overlay to a lower overlay and back to the upper overlay, one could say it's just one large overlay or range. On some level this should not be that much of a surprise because in the bigger picture the trend was up, so maybe price had gotten to cheap for some.

After today I'm going to say the Bias is sideways, at least mine is. That doesn't mean we don't get any movement. We can have moves in either direction, but from the Auction perspective we are moving sideways.

D

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  #26 (permalink)
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Different market profile chart today. I use the 24 hour session chart and broke out the day session. you can see how value increases overnight and the day session areas act as support. Today we traded down to the POC of yesterday. I would say the Bias is a cautious up, but we need to clear the high of 3/12 (Friday) before anything else can happen.

The chart is busy, but I think clear. Resistance above is Friday high and the selling tail from today. Support below would be the usual suspects of todays value area as well as the prior days value area and specifically high volume nodes.

David

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CL Market Profile Analysis-31710-24hr-profile.jpeg  
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  #27 (permalink)
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David ,

how do you setup the overnight for CL?

Ben

Keep on sowing your seed, for you never know which will grow -- perhaps it all will.

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David_R View Post
Different market profile chart today. I use the 24 hour session chart and broke out the day session. you can see how value increases overnight and the day session areas act as support. Today we traded down to the POC of yesterday. I would say the Bias is a cautious up, but we need to clear the high of 3/12 (Friday) before anything else can happen.

The chart is busy, but I think clear. Resistance above is Friday high and the selling tail from today. Support below would be the usual suspects of todays value area as well as the prior days value area and specifically high volume nodes.

David

If possible please provide us detail of setting of parameters of TPO chart. Thanks in advance.

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  #29 (permalink)
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KJAVED View Post
If possible please provide us detail of setting of parameters of TPO chart. Thanks in advance.

attached are pictures for the settings I have for the day and 24 hour sessions. Under properties you also need to set the start and end times for the sessions. I have 8am-3:30pm eastern for the day session. I think the pit is actually 9am, but there is some volume at 8am. I have 5:30pm-5:15pm eastern time for the 24 hour session.
This is for the Fin-Alg add on.

David

By the way, sorry, but no profile chart today 3/18.

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CL Market Profile Analysis-tpo-setup-day.jpeg   CL Market Profile Analysis-tpo-setup-24.jpeg  
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  #30 (permalink)
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Here is a CL profile chart for Friday 3/19:

We are basically still in a big range. It was a big down day on Friday, but very similar to the move down last week. We will need to see if the down move continues, and the open on Sun/Mon will give some indication. I think if the low of Friday is taken out overnight we could see a further move down, but if the low holds as support CL may move back up. Only speculation on my part. The chart is pretty clean today with not much marked up.

David

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