Weeks Review into W/C 6th June 2022
Week Ahead Highlights: ECB and US CPI Out this Week This week features the much-awaited ECB meeting (Thursday) and important US CPI inflation figures (Friday). Besides that, we will follow the US University of Michigan Consumer Confidence survey (Friday) and policy meetings in Australia (Monday), Poland (Tuesday), and Russia (Friday). We will also pay close attention…
TPOs, Non-Excess Extremes and Profile Ledges
What is a TPO? On a market profile chart, a TPO is a graphical representation of a unit of time that usually represents 30 minutes. Each price traded during a 30 min TPO unit is printed as a histogram-style representation of the day’s trading activity. As each letter (TPO or a block) is printed against the price axis and…
Trading Non-Farm Payrolls
What is NFP? The non-farm payroll (NFP) data is a key economic indicator that represents the number of jobs added to the US economy excluding farm employees, government employees, private household employees, and non-profit organisation employees. The US Bureau of Labor Statistics publishes it on the first Friday of each month at 8:30 a.m. Eastern…
Market Profile Guidelines and Trading Balance
To successfully participate in the market, I have devised a set of guidelines that are not absolute, but are absolutely necessary for me to be consistent. As a discretionary trader, I have an advantage over an algorithm because I can better analyse Realtime data and disseminate new information more quickly. The disadvantages are mainly to…