TPO can give you a lot of useful information but you must give it time to accumulate and establish itself. A day is just not long enough imo and besides, when your chart has more than 3 or 4 profiles it starts getting confusing because the usefulness of the data gets degraded highs/lows/POC/VAH/VAL/HOD/LOD etc… The more profiles you look at the more everything starts conflicting.
Load up 3 separate charts, daily, weekly and monthly and see which one is more usable for your purposes. I think you want to be working with a profile that has already established and not one that is still in construction because what's the point of it then?

Good luck with it though. Its a great tool.

Greetings traders; am new to this site and what a fantastic wealth of information this is!
Good stuff! Hopefully i can bring something of value to conversations on here as we go along.

My question today is regarding TPO charts for CL/crude oil. I have always been more of an ES trader, but i find that these days; i just may not have the stomach to daytrade those contracts anymore.

Anywho..I use TPO charts and wondering if anyone has any input as to the 'session' times i should use. for ES my 'main session' is 9:30-16:00 EST and everything else as my 'overnight' (using Sierra)

Wondering how i should construct my oil tpo chart settings. wonder if the same 9:30-16:00? or perhaps maybe 8:00-14:30 daily settlement?

Or if just using one session for all day.... what time would YOU start your chart? 8:00? 9:30? 18:00? some other time?

Thanks in advance!

Just to play devil's advocate somewhat; and not to argue..... wouldnt a profile still under construction offer more opportunities than one that WAS more established? As completion of the 'structure' in a profile chart is often inversely correlated with opportunities; as once it is in plain view for all to see...if we base trades on that, would most likely be late entering/exiting.

But then again, I suppose it is all about the particular timeframe you are looking at and TPs and such. Either way, good stuff and very much appreciate all the input

I disagree. A better developed profile directly correlates to opportunity. Sounds like you're looking into profiles to provide trade signals. Don't give profiles any responsibility beyond being information providers, they will walk all over you.

Think of a criminal profiler. One crime scene provides information to compile a profile. Two or more crime scenes will provide a much more comprehensive picture of the perpetrator. The more information they have to work with the better. Same with TPO. Then again I suppose its how you intend using the information. I mark areas of potential reversal and then wait for signals on the candle chart in the form of price action and volume.


@JDNeeman why PM? Why not share what you have to say here on the forum so that we can all learn something?

@JDNeeman
I will take a look through your journal and see how you go about things. Might have a few questions, Im always keen to learn from experienced traders.

@Grantx

I Dont have a journal of MP. ... I has been my trading system for a while...I have posted ather methods I tried...but never MP.... but i could create one if there is interest,

Let us know..

JDN

Yeah, Im interested for sure! I will post some TPO comparisons.

Yeah, Im interested for sure! I will post some TPO comparisons.