- notes from my trading journal 27/04: - we had a big sell off day, with a 30 points range. MP theory and my interpretation of it regarding today:
- yesterday we had a low volume day, with value building higher but with a late day sell off and a close at the lows of the day, below VA, which, conform with MP theory, is giving us a neutral to negative bias for the next day
- on the low of yesterday profile we had double TPO's, theory about them came true today
- O/N profile had the shape of a double distribution, with lower distribution formed in Europe session and US premarket, which reinforced the negative bias
- open below value and range with gap down, in theory gap represents an invisible selling tail in today's case, presence of OTF sellers
- after the IB was set, price tried to auction higher above the IBH, but after they closed the gap, sellers (which i had a clue about them) entered the market and offered the price aggressively all the way down to the proximity of monthly VPOC@1182.75
- after touching 1183.50 price bounced and formed a lower distribution, where dVPOC, the dynamic part of the profile, played a nice key role. The rest is history...
- as about me and MP, i think i'm at a point when i have to take the chance, embrace the risk, get out of my comfort zone, take the theory I've learn so far and apply it to real trading situations, see where it takes me. Looking and analyzing the market through MP it surely changed my view and my understanding about trading as an auction process. I don't get surprised that often by a dramatic and sudden move in price. Rather I get surprised by things happening exactly how i expect to happen based on my MP analysis and interpretation.
- most of all i have to accept losses as part of the game, not to be afraid of them. I have to focus on consistency & patience to execute my plan with a clear and open mind, being flexible and dynamic, maintaining a cool, calm and relaxed attitude, with the sole purpose of trading to win.
weekly vol profile
monthly volume profile
- key areas/levels for 28/04:
- initial S@1177.50, LOD and LVN
- S1@1171.75 LVN
- S2@1169.25
- NPOC@1166.00 from 31/03, as a possible target
- initial R@1182.75 monthly VPOC
- R1@1189.00-1190.50, yesterday's VPOC
- R2@1195.00 selling singles, LVN on daily, weekly, monthly profiles
- R3@1203.00 WVPOC
- Monday and Tuesday sessions are merged together, we have an extremely bearish IB for the week, with a 39.00 points range
- WPOC@1212.50
- selling singles 1207.25-1206.75 expect to act as R at least at first touch
- selling singles 1201.00-1195.00 big R area, dominated by sellers Tuesday
- VA too wide to be taken in consideration
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