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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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  #1751 (permalink)
 Profiler 
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greenr View Post
This was Bens real time example of a incomplete acution in yesterdays ES market

He added to his position using this incomplete auction on the bar hilighted

Attachment 110765

Im not saying there has to be a 0 x 2000 situation

Just a major imbalance in the orders so 200 x 2000 would be incomplete as well

Ben uses different settings than you on the footprint and in his example of incomplete yesterday it was 302 X 768 at 1590 that he referred to as an incomplete auction. Im sure he will jump on when he gets the chance to clarify all this and I certainly don't mean to put my words in his mouth!

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  #1752 (permalink)
 mongoose 
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I always took from @Private Bankers posts that an incomplete auction on footprint was something like 2311 x 1234, thus not having a 0 on one side. He explained it in one video that there is usually more work to be done there. I did not see yesterdays post yet but will have to watch if it is something different.

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  #1753 (permalink)
 greenr 
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Profiler View Post
Ben uses different settings than you on the footprint and in his example of incomplete yesterday it was 302 X 768 at 1590 that he referred to as an incomplete auction. Im sure he will jump on when he gets the chance to clarify all this and I certainly don't mean to put my words in his mouth!

Ha yeh course, im not 100% thats why i asked Ben to verify

I actually do have the exact same settings and counts as Ben on that chart i can promise you

All that will be diffrent is the way it colours the Bid and Ask, but they will be close trust me

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
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  #1754 (permalink)
 
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 bobarian 
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i emailed Ben,and he mentioned that he will be going over this in his presentation...Thanks for the replies everyone!

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  #1755 (permalink)
 
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 Private Banker 
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Hey Guys,

As we know, the market is an auction process. There are buyers and sellers transacting at each price level based on their perception of value. Each price level should therefore then exhaust one side of the market as it auctions along.

With that being said, an auction is complete when sellers are exhausted at the bottom of a bar and when buyers are exhausted at a high of a bar. Incomplete auctions are where we will see as @Profiler explained, a high or low of a bar that exhibits volume printing on both the bid and the ask.

Hopefully that makes sense!

Ben

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  #1756 (permalink)
 greenr 
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Private Banker View Post
Hey Guys,

As we know, the market is an auction process. There are buyers and sellers transacting at each price level based on their perception of value. Each price level should therefore then exhaust one side of the market as it auctions along.

With that being said, an auction is complete when sellers are exhausted at the bottom of a bar and when buyers are exhausted at a high of a bar. Incomplete auctions are where we will see as @Profiler explained, a high or low of a bar that exhibits volume printing on both the bid and the ask.

Hopefully that makes sense!

Ben

Ah im confused as hell now again

Least we cleared that one up

Thanks @Profiler for your input

And as always @Private Banker for your i prespective

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
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  #1757 (permalink)
 
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 GaryD 
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Private Banker View Post
...an auction is complete when sellers are exhausted at the bottom of a bar and when buyers are exhausted at a high of a bar. Incomplete auctions are where we will see as @Profiler explained, a high or low of a bar that exhibits volume printing on both the bid and the ask.


greenr View Post
Ah im confused as hell now again

Are you saying if we get excess TPOs, but the footprint does not show zero on one side, it is still deemed "incomplete"?

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  #1758 (permalink)
 
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 Private Banker 
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GaryD View Post
Are you saying if we get excess TPOs, but the footprint does not show zero on one side, it is still deemed "incomplete"?

In that sense, you're comparing a higher time frame with a lower time frame. A TPO's excess area can always go higher or lower. What we're watching is the actual volume that is transacting at these levels on a smaller scale. Hopefully that makes sense there.

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  #1759 (permalink)
 
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 GaryD 
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Private Banker View Post
In that sense, you're comparing a higher time frame with a lower time frame. A TPO's excess area can always go higher or lower. What we're watching is the actual volume that is transacting at these levels on a smaller scale. Hopefully that makes sense there.

Then you could have a "complete" auction on a higher timeframe without it being "complete" on a footprint? I am assuming that is correct, as the footprint is a microscopic view. I would also assume to lean towards TPOs over footprint.

All of this is contextual. And also not expected to be absolute.

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  #1760 (permalink)
 
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 COTtrader 
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Private Banker View Post
Hey Guys,

As we know, the market is an auction process. There are buyers and sellers transacting at each price level based on their perception of value. Each price level should therefore then exhaust one side of the market as it auctions along.

With that being said, an auction is complete when sellers are exhausted at the bottom of a bar and when buyers are exhausted at a high of a bar. Incomplete auctions are where we will see as @Profiler explained, a high or low of a bar that exhibits volume printing on both the bid and the ask.

Hopefully that makes sense!

Ben

Ben, I posted this pix on Spoo-analysis earlier today regarding a completed sell auction on the ES 1440 minute bar. No more buyers were found on the ES (see pix) at 1576 PRIOR to close. Immediately, price bounced and revisited 1576 during the next 5 minutes then began its ascent. I SIMed a buy trade above at 1577.

Is the PIX a reference to your explanation?

Ken

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