Market profile prep for Forex majors
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thread: Market profile prep for Forex majors

  1. #1
    Junior Member Aguswtf12's Avatar
    26

    Market profile prep for Forex majors

    That is really a sister thread to the London session market profile prep.
    Please refer to that thread for a description of this methodology.
    Here in this thread, we examine a few major Forex pairs.

    The major differences between profiles of this Forex instruments and those of the equity indices are the nature of the auctions.
    The equity indices are strongly driven by the opinion, i.e. risk on risk off. That is why everyday is a new auction. Thus, daily profiles are extremely powerful. The weekly profile can also be consulted for guie. On the other hand, the monthly and yearly profile are much less helpful for indices.

    On the flip side, the auction of this Forex are driven by the macro factors like the interest differentials, central bank flows and so forth, the auction there is much stickier in character. Thus the weekly, monthly and yearly profile are quite helpful, while the daily profile amounts are not often admired.
    Watch in this example where Gold has find support at the degree 1313.8. Why? It's the Value area high of last year's profile. That is the loion in which the big moneys are step in initiating transactions.

    In the second example, the Aussie got a strong rejection at 0.7914, which is the Value area high of this Feb monthly TPO. The responsive seller stepped in forcing Aussie lower.


  2. #2
    Junior Member Aguswtf12's Avatar
    26
    This week Aussie is finally able to stop the trend of lesser value on the weekly time period.
    The retest of this weekly POC has provided a fantastic entry on the lengthy side

  3. #3
    Junior Member Aguswtf12's Avatar
    26
    Zooming from monthly to weekly outlook.
    The first three months of March had successive lower value areas. This can be bearish on the one hand. On the other hand, it may be interpreted as construction energy to split to the high. The break occurred after the FOMC meeting. But it got rejected at the Feb Suicide worth high (see preceding post).

    It seems that we are getting some responsive buy from the March monthly value low. I, however, would expect the bounce to be postponed after filling the TPO hole in the past week's TPO profile.
    When the price keeps on breaking higher, I'd expect the value area high in past monthly TPO, at 1.2482 (notice that this is stocks price), would be defended by the bears.

  4. #4
    Junior Member Aguswtf12's Avatar
    26
    Euro breaking down on the Road.
    Only shorted a small position that has hit goal already.
    Maintain looking for sell in the coming days.

  5. #5
    Junior Member Aguswtf12's Avatar
    26
    A perfect rejection of pound from the Value Area low of last week's per week TPO.
    For Pound to be impartial, it would need to trade back to last week's value place. Otherwise, I would hold a bearish bias to it.

  6. #6
    Junior Member Aguswtf12's Avatar
    26
    Pound has spent the entire week doing nothing except conducting stops from both sides below last week's value.
    Consider the tight weekly range. Significant break out will come.

  7. #7
    Junior Member Aguswtf12's Avatar
    26
    Euro has been overlapping to the downside forming a down station below last week's worth.
    Wait until the break out for long.

  8. #8
    Junior Member Aguswtf12's Avatar
    26
    Eventually Pound broke down heading towards the POC of the week of Mar 12th.

  9. #9
    Junior Member Aguswtf12's Avatar
    26
    Yesterday I was attempting to play the upside from the Aussie. But, it was never materialized -- it's formed a corrective structure but no break from the upside.

    During the Asian session, the wicked market manufacturer has done a halt run below Wednesday's low. From this open, it's analyzed the Wednesday VPOC and taken directly from that point. It's like saying haha you winners, weak longs.

  10. #10
    Junior Member Aguswtf12's Avatar
    26
    Pound has run across the large volume node I've indied yesterday. It's retested that amount in the morning session to the tick before trading to the upside.
    The path of least resistance for POund is to trade high to fill the gap at the weekly TPO.

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