A detailed look at last wk's auction market process for #ES_F
First, a summary:
• On ave, there were 2 balance areas per day, each averaging 12.25 points in breadth.
• During RTH, the market spent, on ave, 52% of its time rotating between auction bracket highs and lows.
First, a summary:
• On ave, there were 2 balance areas per day, each averaging 12.25 points in breadth.
• During RTH, the market spent, on ave, 52% of its time rotating between auction bracket highs and lows.
2/
• When sellers were in control, down-auctions saw moves that were nearly twice the range of up-auctions (rallies).
• On average, balance areas consumed 52% of the day’s maximum range.
• On average, the market spent 47% of its time rotating between auction bracket highs...
• When sellers were in control, down-auctions saw moves that were nearly twice the range of up-auctions (rallies).
• On average, balance areas consumed 52% of the day’s maximum range.
• On average, the market spent 47% of its time rotating between auction bracket highs...
3/
and lows before breaking out of balance to seek new valuations.
(Data for individual days is annotated adjacent to the Market Profile graphics in the first frame, above.)
What does all this mean? And what is notable here?
First, the market spends about half of its time
and lows before breaking out of balance to seek new valuations.
(Data for individual days is annotated adjacent to the Market Profile graphics in the first frame, above.)
What does all this mean? And what is notable here?
First, the market spends about half of its time
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seeking "balance" ... essentially going nowhere, except on trend days (~15%).
Were one to trade those rotation periods ... perfectly timing bracket highs and bracket lows (known as "responsive" trading) ... they would provide, on average 12 points. (Decent opportunities.)
seeking "balance" ... essentially going nowhere, except on trend days (~15%).
Were one to trade those rotation periods ... perfectly timing bracket highs and bracket lows (known as "responsive" trading) ... they would provide, on average 12 points. (Decent opportunities.)
5/
When the price discovery process broke out of balance, upside "initiatives" averaged ~8 pts; downside excursions went ~16 pts. This is pretty typical.
While most traders have a long bias, short selling generally produces higher gains and pays off in shorter time-frames.
When the price discovery process broke out of balance, upside "initiatives" averaged ~8 pts; downside excursions went ~16 pts. This is pretty typical.
While most traders have a long bias, short selling generally produces higher gains and pays off in shorter time-frames.
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