DislikedHey Brent,
Ive got a genuine question about your opinion on Market profile. What does It actually show you of value? Im gaining a little interest In learning about it since I was directed to it by someone.
LeonIgnored
When you say "value" I guess that you mean worth or usefulness?
I have to ask since Value (e.g. Value Area, Price away from Value etc.) is Market Profile parlance.
So mabe you are asking how Value within Price Distribution is determined?
In either case, I don't think you'll regret studying Market Logic/Market Profile.
A key point, which has been made several times in the thread, is it's all about the theory. To look at the MP graphic without the theory is useless. Conversely, once you know the theory you really don't even need the graphic. It's useful and makes things easy to see but, once you see what it's showing you, you can do without it.
What does it show you?
*What price area is currently accepted as fair value.
*The auction process within and, especially, in excess of value.
*The activity of longer timeframe market participants, who have the ability to either buffer or move the currently accepted vaue area, in response to the excess pricing.
*Keep in mind, Leon - this is real time as the market auctions away. The only lag is whatever is in our heads and ability.
It's really late here and I'm not only a MP novice but, a very tired MP novice. LOL. So, who knows if I'm coming across clearly at all.
A few posts back I posted this from Steidlmayer. Just to give you an idea of the depth of the approach and how nicely he presents the theory (as opposed to me):
Anyway, time for sleep, Leon.
Brent