Market Profile

A book by James Dalton explains in great details what Market Profile (MP) Concept is all about and how it is used in trading.

From my own trading experiences, in order to generate reliable trading signals and setups, I would use Market Profile Value Area and Point-of-Control (POC) only in combination with Floor Trader's Pivot Points (FTP) and Elliott Wave (EW). None of the above discipline, in my opinion, can generate consistently reliable signals and setups.

FT Pivot Point Trading Strategy

For a detailed guideline and explanation of the FT Pivot Point Trading Strategy please refer to the article on this link http://www.investopedia.com/articles/forex/05/FXpivots.asp

However, for our intraday trading purpose, we would only utilize the FT Pivot Point, R1 and S1.

We use the FT Pivot Point in determining the Bull/Bear Market Bias for the day. Generally, if price opens above the Pivot Point, we want to be on the Buy side of the market, and if price opens below the Pivot, we would want to be on the short side of the market.

Depending on the "Type of day", and as long as it is not a trending one directional day, R1 and S1 +/- our "proprietary" breakout level will be our trade exit and reversal point.

** The Open will determine our "Type of day"

Core Elements of the Strategy

The Strategy incorporates four core elements:
1. Floor Trader's Pivot Point: For determining the Intra-day Market Bull/Bear Biases.
2. Market Profile: For determining the Intra-day "Type of Day" and "Type of Pattern" to expect.
3. Average Daily Range: For targeting entry and exit points.
4. Pattern and Geometry: Incorporating Fibonacci number series and wave-set geometry

Trading Acceleration Moves

Mtrader618 blog is dedicated to trading the "Trend Acceleration Phase" of any market move.


There are Three Main Phases of any market move:
1. Trend Transition (Phase 1): Consolidation Phase prior to Trend Reversal or Trend Continuation
2. Trend Acceleration (Phase 2): Trending Phase/Breakout Phase
3. Trend Deceleration (Phase 3): Final Phase before the end of the trend.

Strategies for  Intraday Trading utilizing the 5-minute chart or equivalent, combining Floor Trader's Pivot Point Strategy with Market Profile, Average Daily Range and Elliott Wave.