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Intermediate Term Swing Strategy using Market Profile and Market Auction Principles.

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Intermediate Term Swing Strategy using Market Profile and Market Auction Principles.

As a student of Petes Steidlemyer, for  several years, since 1988,  I am presenting the the non-chronological time chart , with the market generated information in " MARKET PROFILE chart" with the AUCTION MARKET PRINCIPLES as an additional important tool for those in particular who are the students of Market Profile. 

My style of trading is most often pull back strategy for maximum profit distance potential. During the consolidation, particularly a long consolidation with the complex corrective Elliott Waves, I place the trade entry at the most proximal area of the consolidation , in the direction of the trend as Trend continuation, usin, g Chronolgical time alighnment strategy with the Non-chronological time based Market Time chart with the market generated information, called " MARKET PROFILE".

Until a pattern has been formed and completed, the assumption should be that prevailing trend is still operative. The more mature the trend is, the greater the probabilityof an important reversal.The longer the time required to form a pattern, the greater the price fluctuations within it , the more substantial the ensuing movement is likely to be. From Advanced Elliot Wave principle point of view, the the break out impulsive bars are expected to break out in less than half the time it took to form the consolidation.

The Market Profile Chart starts on each day at 5 PM and ends at next day at 5 PM.    When I trade Asian Sessions, I look for the V/A ( Value Atrea) of the prvious day, until 5 PM. Then I also look for the consolidation , taking place at 30 mts and 15 mts chart and this consolidation of Elliott corrective waves  or  one of the simple western patterns takes place in the form of High Volume Node in the Market Profile. The price distribution is presented in the non-chronological manner in horizontal dimention at each price level in bell curve shaped manner. The price , represented by letters, called TPO ( Time Price Opportunity)in horizontal manner is a proxy for volume.

During consolidation, you can take entry at minus 2 area of the least volume area, proximal to POC ( Price of Control) of High Volume Node of the consolidation and also proximal to the V/A of the previous day, if there is an overlap , in the direction of Trend as trend continuation, for maximum profit distance potential. in conjunction with the chronological time based consolidation of the corrective price waves or pattern of candlesticks.

For example, on 6/22/16, Wednesday at 9.40 PM( EST), with the USD/JPY  I took an initiative sell entry at 104.67at minus 2 area of the HVN(High Volume Node) , proximal to POC(Price of Control). and also proximal to POC of the V/A of the previous day's Market Profile and took profit at 25 pips by 10.45 PM(EST) with the ATM( Automatic  Money Management) set up. I regret that I am not computor specialist in posting the Market Price Distribution Chart of Trade Station, for  the Hive.

Thu, 06/23/2016 - 9:01am