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Ron,
I have been a student of Market Profile for many years. I know peter S. and
have been to his seminars at his ranch in california several times. Remember
that there is nothing in a profile that is not in a bar chart and that they
are constructed from the same data. For this idea a profile doesn't seem to
be of much help except that rejection during the first period establishes
the direction and "thin" tpo's establish the presence of a "trend" day. For
intraday trend information I find the level and delta of Trin to be more
useful. You might see that if trin stays steady between .7 and .9 the market
opens on the low and closes on the high, the reverse is true if Trin stays
steady in a range of 1 - 1.2. Oscillations in trin of more than .4 indicate
oscillating market w/tradeable legs while steady intraday trin indicates
trend.
pat
-----Original Message-----
From: Ron2368 <Ron2368@xxxxxxx>
To: gracesys@xxxxxxxxxxxxx <gracesys@xxxxxxxxxxxxx>
Date: Sunday, March 22, 1998 3:43 PM
Subject: Re: Extremes formed on the open
>Pat
>
>I really liked your post and for me it came at a good time. I have been
trying
>to daytrade bonds for a few weeks now. The open usually put me off and I
dont
>do a trade until a trend develops. But sometimes by the time I figure that
>out, it is over or just nearly. I like your concept and my I will put more
>effort into observing what you pointed out. Is Market Profile useful for
>observing this?
>
>Thanks
>
>Ron
>
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