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Asking about reading of VP
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Asking about reading of VP

  #1 (permalink)
Trading Apprentice
Plovdiv/ Bulgaria
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 8 since Mar 2015
Thanks: 7 given, 1 received

Asking about reading of VP

Hello everyone,

As I am new to Order Flow trading, I am little confused about some elements of it, and how to read them, so I would like to ask you for little help, if you can explain to me please.

As a practical, I use the Jigsaw platform for DOM along with the scalping of ZN and ZB (NoBS) but I am not sure that I fully understand John about Volume profile and I cannot find the concrete specific information about it, so I am trying to learn how to read and know what to look for in the Volume profile.
I read and watch whatever I could find about Volume and market profile, but I have difficulties when has time to spot entry and exit also and the trend just from the profile.
I will attach a screenshot of one of my day, of the treasury market. As far as I have read, the valleys are used to be the S&R levels, and the peaks and HVN are the range part of the moves. So, in the meaning of OFA analysis, and the bellow screenshot, what would be the best price in your opinion to enter and exit the potential trades and why?
Also, if you can recommend me some books or reference, would be great.

Thanks a lot!

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  #2 (permalink)
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  #3 (permalink)
Trading Apprentice
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Hm, it seems no one know how to read it? Or it is so secret information that is not for public...

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  #4 (permalink)
Elite Member
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aleksov View Post
Hm, it seems no one know how to read it? Or it is so secret information that is not for public...

It's like most everything that pertains to trading: it's open to interpretation. There are mentors and vendors and forum contributors that will (and already have) shared their interpretation - some for free and some for a fee. But when it's time to put YOUR money on the line it will be YOUR interpretation that matters most. Good luck.

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  #5 (permalink)
Trading for Fun
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Volume profile tells a story, but it is about where you have been. There are many ways to interpret them, like tea leaves. You donít really get trading signals from them, but some people trade the range of the value area, as that represents 66% of the volume. Check out J. Steidlmayer for background on volume profiles and market profiles.


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  #6 (permalink)
Trading Apprentice
Munich Germany
 
Futures Experience: Advanced
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VP is dynamic, not static. It depends on how to profile was formed and where we started vs. where we are now (vs. where we are compared to the last days / weeks / months).
So from a static screenshot it is hard to give you advice.

Also VP doesn't give you buy or sell signals, it provides you with levels that might be of interest in the future. You will have to see what actually happens once price returns there and then see if you can make a trade out of this information (this is where your reading of the DOM / Orderflow comes into play).

You should try and think about what a volume profile actually means, what does it mean if there is an HVN vs LVN?
Once you understand that you'll know what to look for when price comes back to that level and that might then confirm or dismiss a trade idea from that area.

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  #7 (permalink)
Trading Apprentice
Plovdiv
 
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Posts: 2 since Apr 2017
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Many thanks for the replies.
So if I understand correctly, the levels that I am interested in are: HOD/LOD, HVN/LVN, POC, VAH/VAL. And around this areas may occures setups from the DOM. So in this case every one of this areas may comes to play as support or reaistance, right? I mean its not like that some of them has separate roles, all are spots to be aware.
But if this is true, what happend if you have good flow on the POC, is not this in the middle of the range?

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  #8 (permalink)
Trading Apprentice
Munich Germany
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: Emini ES
 
Posts: 29 since Jan 2017
Thanks: 37 given, 12 received

I tried to compose an answer to help you further, but it is impossible to give you a single post answer that is even remotely complete...

If you are really interested and are willing to put in some work, I'd suggest you do some research on Market Auction Theory and Volume Profiling. Watch some webinars FuturesTrader71 has done on the topic and watch a lot of his daily TraderBite videos on youtube.
This will probably give you the best idea of what VP is really about and how it can be used for your trading.
Also check out the books bradhouser recommended by Peter Steidlmeyer.
Additionally there is somewhere a PDF from the CME floating around that gave an introduction to Market Profiling.

Then if you have some specific questions we can probably help you out better, but you have to understand that VP is a much more fluid concept than "if A, B, C then: BUY".

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The following user says Thank You to TradingTom for this post:
 
  #9 (permalink)
Trading Apprentice
Plovdiv/ Bulgaria
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 8 since Mar 2015
Thanks: 7 given, 1 received


TradingTom View Post
I tried to compose an answer to help you further, but it is impossible to give you a single post answer that is even remotely complete...

If you are really interested and are willing to put in some work, I'd suggest you do some research on Market Auction Theory and Volume Profiling. Watch some webinars FuturesTrader71 has done on the topic and watch a lot of his daily TraderBite videos on youtube.
This will probably give you the best idea of what VP is really about and how it can be used for your trading.
Also check out the books bradhouser recommended by Peter Steidlmeyer.
Additionally there is somewhere a PDF from the CME floating around that gave an introduction to Market Profiling.

Then if you have some specific questions we can probably help you out better, but you have to understand that VP is a much more fluid concept than "if A, B, C then: BUY".

Ok, thanks a lot, maybe as a new its difficult to change the mind from technical analysis to OFA.
I will check the materials you and the others told.

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