Tuesday, January 15, 2008

1-15 analysis



This was what I was looking at before the market open. Crazy down day after we got away from the past few days balance area. Found some nice support near the over night lows before taking those out. No idea what is going on in the after market. We have finally cleared all the support areas and are in no mans land. Tomarrow will be a good education, have no seen this setup before.
Right now I'm working on integrating TICK into my trading. I'm completely comfortable with finding nice levels to trade using volume profiles. Hopefully my book on excel comes this week as I would really like to get into cummulative TICK.
Right now I've noticed that if it takes an extreme TICK reading to move price to a key s/r level it should setup a nice fade. If price breaks a key s/r level with TICK sitting around +/- 300 its a good time to be looking for a break out.

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