Nov 242010

Here’s my composite:

Yesterday was the second big up day (I won’t call yesterday a trend day) in a row.  Above is my volume profile composite with a profile on yesterday.  I’m experimenting with this as a replacement for the market profile chart.  I’m not sure I need the MP chart.  What I like about the MP chart is I can split/merge.  What I don’t like is I can’t annotate it.

My plan today is the basic plan.  If I see we’re balanced I want to fade moves to CLVNs and if it doesn’t hold get out ASAP (preferably on a pullback to the CLVN) and then go the other way.  My focus is to control risk and get out quickly if I’m wrong, and take only really good setups with real money.

Some scenarios:

  1. Bund tests yday high and rotates down
  2. Bund tests yday VPOC at 128.23 and continues up
  3. 31 & 69 are the firs two CLVNs so I’ll be looking at those for my first trades.

So far we’re balanced pre-market so I’ll look for signs of OTF presence or absence.  Lately I’ve gotten caught on the wrong side and I want to minimize that if OTF is present.

Good luck today.

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