Great Delta Long off Key Level

Hi guys,
Gotta run. Take a look at the two charts. I forgot to mention that this was also a return to developing Value Area Low. They offer great learning.

Hope it helps,

MG

Low of Day Clue

This speaks for itself.

MG

Weekly Chart and Levels

Hey there,
Here is my weekly chart and levels I am looking at. You need to be doing this kind of thing yourself.

Hope it helps.

MG

Great Trade Opportunity at High of Day

Hi guys,
Hope you are having a great weekend. Here are two charts that go together. The top one shows the setup on a 30 minute chart. Here is where I saw the trade opportunity develop. Then the 6 tick Reversal chart shows the beautiful and easy set up (confirmation).

Oh, btw, the blue line on the Rev chart is a 2.5 SD of the VWAP. In other words, the market was strongly statistically extended. Notice that I have Footprint Bar Stats for both all trade and for those above 100+. I am just looking at whether this data can give me an extra edge.

Hope it helps,

MG

Three Day's of Market Action

Hey Guys,
Sorry for the lack of posts. I have been so busy lately. Here is a chart of 3 days of market action with the levels I am watching. I update my levels as areas of initiated buying and selling manifest or old areas are broken during the trading day.

Hope it helps,

MG

Weekly Chart

Hi Guys,
Sorry for waiting so long to post this. I have been been really busy and will be for much of this week. So, my posts may be a little sparse the next couple of days. Here are my key levels for the week. They are based on initiated buying and selling areas on a more micro scale and longer term levels going back months. I will teach more how I do this in the future.

Gotta go. Enjoy.


MG

Areas of Initiated Buying

I've been very busy today so just whipped up this chart quickly. I do this kind of thing for my (and usually in more detail) every night.

BTW, note the volume on the final drive up. The orange line denotes 180 average volume at the same time frame. The blue line is the 30 day volume high for the period. Volume was above the average and (in 2 periods) above the high volume. This was a heads up that the up move had legs.

Hope it helps,

MG

Trade Opportunity at Key Support

Hey there guys,
Hope you had a good day trading today. There were several really nice trade opportunities today. I'll point out just one. 819-820 was (and is) a really key support level. Initiated buying took off from there last Tuesday and the market shot all the way up to the 849.50 area. This support was tested two days later on Thursday and held and it was yesterday's low. So, it shouldn't be a big surprise that it was tested and held once again - especially on a Neutral/rotational day.

I won't go into all the clues that the market internals were giving that a rotation up was more likely than a big push down and thru this level. But they were clearly there. We'll talk more on this theme on a different post.

I was so delighted that (at least) one of my readers took this trade and made 10 points. Have a great day trading tomorrow.

MG

Daily Entry to Chart Book

Hi Guys,
Today I want to give you something different and important to add to you repertoire. I want to show you my daily entry to my Chart Book. Every day and every week I do up charts like this. I also do a 5 day chart and a longer term merged chart (for more macro-levels).

The point is: I want to be prepared ahead of time for what opportunities may become available. This is my daily chart for today with key levels for tomorrow or a future day. Since I had to compress it I need to point that the key areas listed had high volume. Each one also stopped the market.

Someone asked me today: "What is your most important chart?" My answer was: The 30 minute Footprint. This is where I am getting intraday and prior days levels. Only when price is approaching one of these areas do I start focusing on my short term footprint charts.

I suggest you all start and use a Chart Book (if you haven't already). It will revolutionize you trading.

Hope it helps.

MG

Two Volume Lessons

Hi Guys,
Hope you had a successful and fulfilling week. Here are two charts that show you powerful ways to look a volume. The new MD 9.2 makes it easy to see this important data. Those of you without MD, I don't know what to say. I wouldn't want to live without it.

Both of these are trades I was waiting for. I draw boxes throughout the day around areas of stat high volume. That is, areas where you see significantly higher levels of volume than surrounding prices. Make note, as in the opening period, when the buying volume really kicked in. These are areas of Initiated Buying.

I will teach more on this subject in the future. It is potent stuff. When you you see stat high volume (12,000, 13,000, 15,000 etc) when the surrounding volume at price is 1,000, 2,000 etc. these are the areas to watch on a retrace. The broader the zone (2 point range or more) the more important the area.

In the other chart, I show how the new VPS indicator can be used. I just put it up last night and it has already paid dividends. Needless to say, I will be watching this one.

Hope it helps. Have a great weekend. Study Study Study. And do get out and play. See you next week.

MG

Joe Mertes Webinar

Just got a notice from Joe Mertes that he will be hosting a webinar on: Strategy and Tactics Using Market Profile. This is a day long long class on February 21. Cost: $395. If you are interested in more info, you can email Joe at: jjmertes@josephjames.com

Joe is a very knowledgeable teacher/trader. He has a really valuable newsletter that I have read a number of times. I have never taken a class from him, but have picked up a lot from him just reading his newsletter. You may want to check him out.

MG

Triple Top Short

Hi guys,
Sorry for not posting the last couple of days. I have been working on improving my charts. The new 9.2 MD beta is a massive step up. I am able to see things not visible to me before and have been working on ways with this great potential 9.2 brings, to get my charts set up the way I want them.

Today's chart shows an overlay of BidxAsk on the Footprint type profile. How I did it was to add a 2nd ES set to BxA. I already had a Footprint style ES set up. Then I just messed with settings until it looked right to me.

I invite you to explore and learn things on this amazing software for yourselves.

Interesting short trade yielded 6 points. There were so many signs of a drop here from the delta. It was quite beautiful.

Hope this helps,

MG

Trading Prior Day High Volume Areas

Hey guys,
A short but sweet lesson. I learned this trade from Bill Duryea of IOAMT. Boy, did it work well on Friday. Put this one in your arsenal immediately. It happens fairly often.

Hope it helps,

MG