homework for: 16/8/12

hi volume brackets from: 15/8/12
closing other brackets
12298 12333 12298
12289 12327 12287
12286 12321 12276
secondary hi-vol:
last trade: 12292 hi: 12348 lo: 12267


FT71 (euro templates from IRT)
vpoc 08/07/2012 12425
vpoc 8/14/12 - LRH 12385
VPOC (last period) 12387
vpoc 08/03/2012 12223

l/t hi-vol comp 12286

news
- UK retail sales, bank minutes (3:30); EURO CPI (4:00); USD Housing, Philly Fed
other notes
- trading in upper half of broad range 12450 - 12051 (daily chart)
- last session was low volume, low range resulted in simple double distribution day

Nicolas11 

Hi, Thanks for sharing your experience with this journal! Do you have any reference to this "new thinking"? I was aware of the "volume strips" ( CME video, CME video, nexusfi.com (formerly [AUTOLINK]BMT[/AUTOLINK]) thread) which are not very far from the concept of VPOC shift. But I know nothing about his new theory. Thanks! Nicolas

Here's a link to the recent webinar where he discusses the concept of adding time back into the market: Volume: The Key to Understanding Today's Market

sold 1e6u12 @ 12299 ... top of bracket of 12287 hi-volume price

Nice journal. I would be interested to see how you look at your trading graphically (if you do)

I don't trade futures but here is a spot version of eur/usd. I find the low volume nodes almost more interesting then the high volume ones. Wonder if you have ever looked at those.

here are the high volume brackets numbers you called out (the dashed horizontal lines) in your last numbers post with last session vpoc in magenta



here are high volume nodes as I have them. Going 5 days deep across any row. magenta is poc and green is high volume. Purple lines marked are previous hi/lows



here are low volume nodes (yellow numbers)




anyhow just different ways to look at it.

later

covered short at 12302 for -3 ticks ... also inadvertently sold another short on move higher after initial entry but covered for scratch.

Same issue as last night sold top of bracket (identified as first low volume level above high volume level) expecting an immediate bounce lower back towards the hi-volume price, in both cases the bracket high provided resistance initially but price hung around (what I had assumed) was a low volume level and built volume at this price. My entry (like the one last night) ended up being on the bottom of a very small developing bracket. Although, the opportunity existed to cover after even 10 minutes for a scratch for at most a 2 tick loss, I was stubborn and let the trade go offside by as many as 10 ticks. I did get a pullback from this session's which I used to cover for a smaller loss; price did retrace as low as 12297 in the pullback. Somewhere between that low and the initial bracket high (12299) would have been a great place to initiate a long for a move back to 12304 (session POC) or higher but because i was so relieved to have gotten out with a smaller loss I didn't have the fortitude to jump back in.

But I live to fight another day, actually another time because with this vent out of the way I am now in a better mood to continue the hunt for trades as there are, will always be more hi-volume prices to chase.

bot eurofx 12288 ... hi volume price 12287 ... looking for move to top of this bracket ~ 12299
(added later) liquidated long @ 12281; 1 -7 ticks on the trade, down -10 for the night

websouth 

Nice journal. I would be interested to see how you look at your trading graphically (if you do) I don't trade futures but here is a spot version of eur/usd. I find the low volume nodes almost more interesting then the high volume ones. Wonder if you have ever looked at those. anyhow just different ways to look at it. later

Thanks so much for your input, I look forward to carrying on the conversation but I am just leaving town for the weekend and will not have time until I return on Sunday. I do have graphical representations that I have had developed for my use and I will post some examples next week; because this software is just for my own use it is somewhat ad-hoc, almost rough, in its presentation. Hope you find a few good trades this session, I`ll be back at it again for Sunday.

omni72 

Here's a link to the recent webinar where he discusses the concept of adding time back into the market: Volume: The Key to Understanding Today's Market

Thanks for asking and thanks for the replay and post of that link ... `part 1`of his thinking can be found at this link ...

Steidlmayer Volume Strips: J. Peter Steidlmayer

this was a presentation that Steidlmayer made almost 1 year ago (I discovered it sometime in November of last year) and I believe is the first time that he had spoken in public about the current evolution of his trading.

Note: Volume Strips does not exist as a software product that I can license and I am a Cunningham customer (CTS was supposedly the launch partner for Volume Strips). Despite the references to it again in the second later presentation, it doesn't really exist. In fact, I believe that he continues to search for a visual representation of his ideas that would be as objective (and elegant) as market profile was for his earlier thinking.

omni72 

Here's a link to the recent webinar where he discusses the concept of adding time back into the market: Volume: The Key to Understanding Today's Market

Thanks!
Actually, this link was one of the two I gave in my own message. When I saw this webinar some time ago, I did not have the feeling that it was so different from volume strips. I will have a new look at it. Thanks again.

Nicolas

Whats a high volume node