Tag Archives: single print

Choppy Trading in Double Distribution Market Profile Chart

A predominantly choppy trading session Thursday with a break lower in G/H periods forming a lower distribution below the C period low at 2192.50, repairing the poor low from November 22nd at 2191.75.

prior-poor-lows-repaired

Price action, which was choppy in the lower distribution as well, did not close the upper distribution single print until the final 15 minute period at the end of the pit session, likely attributed to stops above the previous four period’s bars.

The point of control migrated lower in M period to 7 TPO’s wide at 2190.75, from and earlier 6 TPO wide POC at 2194.50. Value also migrated lower, ending the day below the previous day’s value area.

Early focus on Friday, depending on the open of the US pit session after the release of the monthly jobs report, is the last period rally high and upper distribution low at 2193.00. Acceptance back above 2193.00 could see price test the opposite side of the balance, at Thursday’s poor high (only one tick of excess) at 2202.00

The ES has been one time framing higher on the weekly chart for three consecutive weeks, Thursday’s selling did not take out the previous weekly low at 2184.75. Trading below that level on Friday will cease the one timeframing higher. Acceptance or acceleration below 2185 could target the very prominent point of control from 2180.50, and poor low at 2177.50, from the November 18th profile.

es-lower-value

note – as trade begins a new month, there is somewhat substantial excess at the new all time high on the monthly chart.

(the above post and all posts on es-traders.com is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. Please read our disclaimer

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Late Rally Forms Upper Distribution, Anomaly, Wide Point of Control. Value Not Migrating Higher with Price.

Market Profile Chart November 15, 2106

sp-emini-futures-multiple-distributions

Late rally in J period leads to multiple distributions. Value finished higher on the day but did not migrate higher with the rally.

Depending on Wednesday’s open, acceptance in Tuesday’s upper distribution above 2074 could be the early focus. The all time high at 2184.50 is in striking distance if price can find acceptance above Tuesday’s high.

Acceptance below 2174.00 should repair the profile anomaly around 2171.00, and test the lower distribution high/single print at 2169.75. Often, if price exits one balance area and re-enters another, the potential destination trade is the opposite side of the balance.

Market Profile trading references below Tuesday’s low, should price find acceptance below 2163.00, are Monday’s naked point of control at 2160.25 and low at 2152.25. An unrepaired poor low, two TPO’s wide, remains at 2147.75 from November 11th.

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