Friday, November 2, 2012

Trading with the weekly profile

Note to self - use the weekly mode for longer term trading.   I sort-of already knew this..but i'm writing this down in the public eye to reinforce the concept.

Ok readers, lets have some fun and look at the below picture of the last 6 days of profiles, and answer this question....what was the weekly mode (converging onto recent daily mode) going into this NFP number...and what was the high price for that time period which covers this new bell curve (remember the 7-day rule)?

If you then look at the low print after the NFP print and do some simple subtraction...i think all the Market Profile bell curve resistors will have a "son of a bitch" moment.

that is all...govttrader out...

10:38 AM update:   more recent chart...the weekly mode reigned in the market again!!!

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