POC to VAH on DJIThis chart shows the balance zone and bell curve that has been created in the volume profile since Jan 18. This week price fell to the 18 month Point of Control and was immediately bought up to the Value Area high, forming a bullish engulfing candle as it did so.
In terms of trading from here, any buying above this level is now buying out of value. Shorting at this level or higher is good value if looking for a responsive move lower, but not without an entry signal. Remember this is a longer term chart and the daily profiles are showing value moving higher every day last week.
The profile also has a positive skew, in that there is much more action above the POC than below. This is people buying at higher prices as they believe that in the longer term they are buying value- bullish overall.
YM1!
Elliott Wave View: Dow Jones Future YM_F Rally Should FailShort term Elliott Wave view on Dow Jones Future (YM_F) calls for the bounce to 25952 as wave (B). This move higher is a correction to the decline from April 24, 2019 peak.
In order to avoid a double correction in wave (B) and provide validity to this view, Dow Jones Future needs to break below wave ((i)) at 25215. However, technical analysis on US Sectors such as Financial (XLF), Technology (XLK), Consumer Discretionary (XLY) suggest they have broken lower. Thus, we think it’s likely that Dow Jones Futures also extends lower.
Therefore, we don’t like buying the Index and expect sellers to appear in 3, 7, or 11 swing as far as pivot at 25952 peak stays intact.
VWAP, Volume profile and pivots combined for day tradingAs annotated on the chart, weekly pivots combined with volume profile and VWAP bands can give high % entries.
me
On responsive days, VWAP bands give accurate points of entry for a move back to the current VWAP or POC.
Be wise to the the of day that is developing, and use the appropriate strategy. For example on trend days do not play for responsive moves as you'll get run over. Neutral/balancing/normal days buy or sell out of value for a return to value using VWAP and pivots as a guide. Stops should be placed above or below pivots or the next VWAP band (2.5 or 3 SD).
For further accuracy use the bigger picture- market and volume profile of the last few days.
VWAP and volume profile combined with pivots for day tradingAs annotated on the chart, weekly pivots combined with volume profile and VWAP bands can give high % entries.
On responsive days, VWAP bands give accurate points of entry for a move back to the current VWAP or POC.
Be wise to the the of day that is developing, and use the appropriate strategy. For example on trend days do not play for responsive moves as you'll get run over. Neutral/balancing/normal days buy or sell out of value for a return to value using VWAP and pivots as a guide. Stops should be placed above or below pivots or the next VWAP band (2.5 or 3 SD).
For further accuracy use the bigger picture- market and volume profile of the last few days.
Dow Jones - Risk-Off Dissipates but Downtrend IntactThe Fed's dovish shift in 2019 that pushed prices higher has been overshadowed by ramped up tension on the global trade front. This should continue to be a drag on investor sentiment until other factors prevail.
Our bias remains down on the Dow, as highlighted by the 55 SMA Slope and the fact we have not yet broken key resistance areas.
It will be tricky today. Consider adding on continuation shorts intraday with caution.
Dow Jones - Downtrend Intact, Consider AddingDow Jones is the weakest US index.
Trend is down as highlighted by the key daily level break and the 55 SMA Slope.
Everyhing hinges on US/China trade talks so we would wait until the US Cash Open
before trading and would prefer a continuation break on bad news.
#FXinsights #cisTOPIX US$ & Real Capital Gains in MarketsFrom NEW BOOK "P.R.O Trading" by Joshua Corum in CORUM's Capitalism Theorem (+BONUS Chapter) DJIA TVC:DJI at $17420 will accumulate $6.7 TRILLION in $USD Real Capital Gains and Increase the USD$ TVC:DXY to 6.7% to 102.96 where REAL Capital Risk + Costs is ONLY 1.34%. U.S. Markets need to take these capital gains NOW!
RIGHT NOW REAL US$ Capital Risk + Costs = 5.36%
THIS is 5.36 PIPS per $100,000 lot in Capital Structures!!! TOO HIGH!!!
See #FXinsights & #cisTOPIX ONLINE!!!
No reason to be short YM/DJIWe are in the 8th green week in a row. Price up on all timeframes. This week was the first time we opened close to the weekly pivot and dropped below for a few hours. However it quickly recovered above and is now past WR1 again. We are above the yearly and monthly pivot. Until the markets open or drop below the WP and hold there, there is no reason to be short.
Volume profile has a positive skew and is building value higher. Currently sat near POC, look for it to continue quickly to the next node at 26000 if it isn't rejected here.