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" 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"
Said to my self last week i will not post live analisys any more while i am trading
need to keep my head down and focus more
Any ways...here is what i was thinking this morning
What more can i say
" 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"
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Here's a quick video I put together on what I saw today. Nothing special but figured rather than a drawn out written piece, I'd make a video in lieu for some added perspective. Be kind...
Ben, a huge thanks for taking the time to do a video. If a picture is worth a thousand words a video is priceless.
I've read through the thread several times and I couldn't seem to find a answer to my question. You talk a few time in the thread and video about "excess". Could you explain excess and more specifically why the market likes to leave areas of excess behind as apposed to poor highs and lows.?
Thanks a bunch for all the wisdom you add to this thread. I know I have become a better trader because of it.
@Private Banker, if you attach FLV or MP4 video files to the post, they will show up on futures.io (formerly BMT) with our player instantly, and also appear on our home page.
Ok, new to Profile trading, forgive me if out of line. Setup for now would be? 1) Open out of balance, out of range.
2) rejection at Feb 1 NVPOC @ 97.64. Short & expect a test of yesterday range. Add at developing vah? stop may be a few ticks above OR high?
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Great question. Simply said, "excess" is the market showing that one side has exhausted itself. If we've reached a swing high and there are no more buyers to continue to push the market higher, we would see a reversal creating an excess high. Excess can be seen in many different time frames including the daily TPOs.
Maybe a decent example of excess as shown on the Jan 23 low. Strong volume as buyers push market back up. Has proven to be good support as has held twice now.