I’ve commented before on the similarities between the Taylor Trading Technique and Market Profile. Both have a strategy of looking for trend reversals at what Taylor called the “excess” at the end of a move or Market Profile calls a “tail” at the end of an auction.
I’ve never had easy access to Market Profile charts on any of my quote platforms, so I haven’t really studied it much. One of my firm’s trading platforms offers charts very much like MP charts; I’ve been watching them recently on the eMini S&P futures and have found them useful. Now I need to get a good book on MP (does anyone have a suggestion? I’ve read bits and pieces of Jim Dalton’s books, back to those?)
The trading platform is dt Pro; you can read more about it and sign up for a demo here. The charting is called the Footprint and is offered by Market Delta. You can read their info about Footprint charts here.
A hat tip goes to Brett Steenbarger for helping me learn more about Footprint; he has a number of blog posts about implementing these charts at his blog here.
This is a sample of the analysis from my Swing Trader’s Insight advisory service. For information on STI, and to sign up for a free two week trial, visit here.
The information contained here includes information from sources believed to be reliable and accurate, but no guarantee is made as to accuracy, nor do they purport to be complete. Opinions are subject to change without notice. Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
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