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CL Light Crude Analysis TPO/MP/VWAP/VPOC


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CL Light Crude Analysis TPO/MP/VWAP/VPOC

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  #1311 (permalink)
 
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 josh 
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Tiger45 View Post
Why is 90.68 a key level? I see a 5 min S/R line there, but nothing MP or VP. What am I missing?

Look at the blue shaded area on the chart coming from Friday; it's Friday's most traded price.

And on Monday, it was the HOD, it was early morning resistance yesterday as well.

So, if value is established above it, I would expect a test of 91 again at least, and quite likely Friday's highs around 91, and even a venture into the gap above. But if value is not established above it, the downside targets mentioned earlier (low 40s and 91) are in play to me.

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  #1312 (permalink)
 
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 Tiger45 
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josh View Post
Look at the blue shaded area on the chart coming from Friday; it's Friday's most traded price.

And on Monday, it was the HOD, it was early morning resistance yesterday as well.

So, if value is established above it, I would expect a test of 91 again at least, and quite likely Friday's highs around 91, and even a venture into the gap above. But if value is not established above it, the downside targets mentioned earlier (low 40s and 91) are in play to me.

OK, I see that now. Thanks.

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  #1313 (permalink)
 greenr 
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Hedged risk

Watching ETH vwap to see if we hold these value area lows or not

We have not tested an extreme yet but have been leaning off ETH vwap



Were inside the weeks Vwap developing value....


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  #1314 (permalink)
 
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 Tiger45 
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Long a the POC


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  #1315 (permalink)
 greenr 
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greenr View Post
Hedged risk

Watching ETH vwap to see if we hold these value area lows or not

We have not tested an extreme yet but have been leaning off ETH vwap

Attachment 104903

Were inside the weeks Vwap developing value....

Attachment 104906

Nice action today

Target filled



Was targeting the lower end of this consolidation

There looked to be repair work to be done to the lower end of the composite from the last 4 days


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  #1317 (permalink)
 
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 Tiger45 
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Tiger45 View Post
Long a the POC

Stopped out, +5

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  #1318 (permalink)
 kulu 
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Tiger45 View Post
I'm using the Rancho stuff. I don't see that option. I'll contact their tech support.

Rancho doesn't have the option to merge TPOs.

Kulu

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 Private Banker 
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kulu View Post
Rancho doesn't have the option to merge TPOs.

Kulu

I asked them about this a while back and they said there are plans to implement this in the near future.

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  #1320 (permalink)
 kulu 
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Tiger45 View Post
Long a the POC


@Tiger45

Just a few notes on that trade. This is not in anyway criticism for your trade, but my own notes on why I wouldn't have taken that trade.

First off all, we were one timeframing lower and that would have kept me from going long. Secondly, in terms of trade location, your risk would have been 36 ticks if you were to place your stop behind structure, which was yesterday's low at 33s.



Even if we look at the merged profiles (courtesy of fin-alg), you see that the merged profile (3/1, 3/4, and 3/5) has a double distribution, and we opened inside the top balance area. Three scenarios for trading balance,

1. Acceptance of balance (Stay within Balance)
2.Attempt to Breakout and Fail
3. Breakout and Accelerate

We didn't even look above top balance, and we started auctioning lower and accelerated into the lower balance area. If you were not short already, then I would be watching for signs of exhaustion (we've gone too short too quickly) for at least a rotation to the top of the balance (lower balance). Trade location is favourable at this location. Just like Jim Dalton says, "Trade Location is one of the best risk management tools you can employ in your trading." Just coz price hit a naked POC doesn't mean we should take it, you gotta look at the structure and what the market conditions are. I don't know if you noticed this, but tempo was very high to the downside, when we hit that naked POC, for me that's a sign to stick with the shorts and not try to FADE a market that's one timeframing lower (also especially because it was inventories news). Anyways, just my 2 cents


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