Today's lesson demonstrate the ideas I have learned from Dr Brett Steenbarger and Joe Mertes. From Brett, we have the Volume Adjusted R1 as Support and we have the 823-824 area as a KRA from the merged chart, that I learned to effectively use from Joe Mertes excellent newsletter.I had to work today and could only observe but I saw this one coming from a mile away. Also note, that 852 held the market at the top. When the market couldn't get above this level, we expected a rotation down.
Loving the new Market Delta beta 9.2. If you are not using it, you may want to check it out. In future posts, I will share ways that the new functionality is really helping. Please feel free to share beneficial new ways you are using it.
Hope it helps,
MG
Hi, thanks you for your blog. What is the significance of merging your chart from January 14? As opposed to a different date in early January. I am new to footprint charting and market profiling and am learning a lot.
ReplyDeleteHi MG,
ReplyDeleteI'd never toot my horn, but I didn't want to misrepresent any of Brett's work. The rhVolAdjPivots chart is actually my creation. It stands for VOLATILITY adjusted pivots. In it's current iteration, an adjusting factor related to the 5 day avg true range is applied to the standard pivot formulas. I don't know how Brett does his, I just used some a logical guess as to what he might be doing. Thanks for your great posts.
Robert Hoffman
InvestorIntel.com
Stoekley,
ReplyDeleteI don't have time tonight to get into the process of when and where I merge. But as a general guide, I merge days that overlap. Its really quite logical when you look at it.
My teacher in this area is Joe Mertes. He has an excellent and reasonably priced Newsletter where you can learn the nuts and bolts of merging and more. It is an incredibly useful process and has aided my trading greatly. His website is: http://www.josephjames.com/
He offers a free two week trial.
Hope it helps,
MG
Robert,
ReplyDeleteThanks so much for the clarification and the great work you have done. I ( and I am sure many others) really appreciate it. BTW, your video on the Cumulative Money Flow and Tick was really helpful. I have the chart up and running.
MG
Hello,
ReplyDeleteWhere can I find more info on Robert Hoffman's Volume Adjusted Pivots and his videos on Cumulative Money Flow and Tick?
Thanks for helping me out.
Hi,
ReplyDeleteWhere can I find more info on Robert Hoffman's Volume Adjusted Pivots and his videos on Cumulative Money Flow and Tick?
Thank you for helping me out.
Jozef,
ReplyDeleteTwo places: http://blog.marketdelta.com/ and http://www.charthub.com/chart/author/5518A74DA939267CBA9C33A89FC2D7F
Hope it helps,
MG