For our weekend notes on Market profile, I dug up an article written by Doug Tucker from his blog : http://tuckerreport.com/articles/market-profile-a-primer/.
Mr Tucker begins of by admonishing believers of Gann, Elliot, Fibonacci, Moons and tides who have turned away from the market to “find a correlation between price action and unrelated causes” in his words.
I do not count Elliot and fibonacci in the same league as the other three, simply because they are very good systems to measure the symmetry (or lack of) of the markets.
His views on indicators/ oscillators resonate with ours.
Anyways, I felt the clarification was necessary as my focus is to bring the article and his summary of Market Profile which is very good and covers all that we have discussed in the Profile Classroom.You can ignore the starting print if you like..
Catch Tucker as he talks about price & volume, the auction process, different day types, value area and tails.
The article can be accessed from here: market-profile-a-primer/