Today's post shows a short trade on a retracement to a 30 minute period Single. This is a trade I do fairly often when I have a strong directional bias and the footprints confirm. Many people using Market Profile concepts trade retracements to the area where directional buying or selling begins (Single Prints) as it usually establishes the presence of big money entering the market.
This concept can easily be used on 30 minute profiles also. The top picture shows how I set this up in MD/IRT.
Hope it helps,
MG
Thanks a lot for your set ups and remarks about the E-mini, its a great pleasure to read your blog!!
ReplyDeleteI learned a lot from your charts, keep going on with your Blog and your ideas how to trade efficient,
Bert
Netherlands
Hi MG
ReplyDeleteGreat blog. Thinking of trying market delta since seeing your posts very interesting.
Tom
What do you have at the bottom of the chart Delta or VB? And how can we place them in Market Profile chart?
ReplyDeleteThanks for this fantastic practical and useful blog.
Dear Tom,
ReplyDeleteI use the Volume Breakdown indicator set to Delta. This can only be done on the new 9.2 Beta version and it is simple as adding any indicator to a candle chart.
Indicators can't be added to Market Profile charts but can now be added to footprint charts.
Hope it helps,
MG