Comprehensive investigation of the 30th april trades carried out the pattern that nicely depicts significance of the VPOCs usage in trading.
Here I go w/ the chart of the session which was mentioned above. Orange lines are VPOCs, most commonly traded price during particular past days. In my case, all past sessions of the april.
In term of ES session performance and execution particularly to the VPOCs, I have pointed out 4 key support/resistance levels. Exact numbers you can see above. I also painted them into green color on the chat above.
Going forward, to make it more vividly and clearly, I put zig-zags on the chart to explain the market moves. After the open bell bears started to push the market lower. But buyers nicely protected near 1203.25-1203.75 ES points level - 20th, 23rd and 29th april VPOCs. After almost half an hour bears became stronger, so they have pushed the market lower. The only level where some support have appeared was exactly 1193.00-1193.50pts. Here 14th and 22nd april VPOCs are set. Then buyers have managed to push market higher, but 1203.25-1203.75pts level - numbered first on the char above - have already been occupied by bears and played resistance level role. On the chart below I have put aside some details from the chart above.
As you can see "support and then resistance level" pattern have repeated during the session. And VPOCs level have always played leading role in ES performance. Thats how the pattern looks like without prices details.
So the main conclusions are:
1) The lower distance between VPOCs - the stronger its average price, neither support or resistance, level will be;
2) Paying attention on VPOCs allows you to monitor overall picture and environment of the session versus focusing only on previous twenty-thirty minutes before the trade entry, as I always did.
Here I go w/ the chart of the session which was mentioned above. Orange lines are VPOCs, most commonly traded price during particular past days. In my case, all past sessions of the april.
In term of ES session performance and execution particularly to the VPOCs, I have pointed out 4 key support/resistance levels. Exact numbers you can see above. I also painted them into green color on the chat above.
Going forward, to make it more vividly and clearly, I put zig-zags on the chart to explain the market moves. After the open bell bears started to push the market lower. But buyers nicely protected near 1203.25-1203.75 ES points level - 20th, 23rd and 29th april VPOCs. After almost half an hour bears became stronger, so they have pushed the market lower. The only level where some support have appeared was exactly 1193.00-1193.50pts. Here 14th and 22nd april VPOCs are set. Then buyers have managed to push market higher, but 1203.25-1203.75pts level - numbered first on the char above - have already been occupied by bears and played resistance level role. On the chart below I have put aside some details from the chart above.
As you can see "support and then resistance level" pattern have repeated during the session. And VPOCs level have always played leading role in ES performance. Thats how the pattern looks like without prices details.
So the main conclusions are:
1) The lower distance between VPOCs - the stronger its average price, neither support or resistance, level will be;
2) Paying attention on VPOCs allows you to monitor overall picture and environment of the session versus focusing only on previous twenty-thirty minutes before the trade entry, as I always did.
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