We never got that move above yesterday's POC as expected. There were just 2 probes all day above POC and they didn't last a full 10 minutes in a 390 minute trading day.
It showed seller dominance all day as well as the fact that the break-down from yesterday was accepted.
There are some buyers at 5245 as can be seen by the level holding up today as well as a few weeks back.
5270-5258-5252 are the values for Monday.
A break below 5252-5245 should set you up for some good profits on Monday.
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7 comments:
dear viren,
i want to thank u for introducing this concept of market profile. since the day i read ur comments about this system, i started noting it and doing paper trades according to it.they were really gr8.
initially i day trade as well do positionally but whatever i earn in positional trade i loss in day trading, here i want to accept that bcoz of ilango sir i have also changed my way of trading"specially sit tight".
now me and 1 of my freinds we trade according to market profile charts and its giving good results.
there are few questions in my mind regarding market profile chart.
1. can we get weekly market profile chart and will they we of any help in position trading
if yes, than from were i can get old charts becouse volumedigger.com provides it only for 10 days.
2. Does weekly market profile chart help in trading.
3. can we use nse futures and nse cash (spot) charts in same way for trading.
4. As you mantioned that yesterday market opened below 5275(POC), here i want to know that is it the first opening tick of market metters or is it first 10 minutes of trade below poc?
5. How can i calculate POC,VAH,VAL my self?
It will be very appreciable of you if you kindly explain me the above mantioned doubts.
I will be highly obilised
Thanks
Warm regards
Saurabh Moond
dear viren,
soory for the spelling errors
"i will be highly obliged"
:-)
thanx
saurabh
:-)
sorry
Dear Viren,
I would also request you to help me as to how to do the chart myself and calculate the values of POC, VAH and VAL. If you are using any charting software to arrive at this chart, please let me know so that I can follow suit.It will be of great help if you can guide me.
Regards,
Veer
Can there be more cockroaches??
http://www.nytimes.com/2010/04/18/business/18goldman.html?pagewanted=1&th&emc=th
Dr Saurabh and Veer,
Viren may be out for this entire week coming..I'll remind him to respond to you when he's back.
thanx shai
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