The Log // field notes on the auction

The auction, written down.

Everything we’ve worked out about reading the market, the theory, the structure, the craft, set down in order. No signals, no secret sauce, a couple of bad jokes left in. Start at the top, or raid what you need.

Start here // new to the auction? read in this order
Start here · The Profile

What is market profile? A trader’s guide

Market profile turns price and time into a picture of the auction. What the TPO chart is, what actually matters, and what it can’t do.

The foundation · 11 min read

Your first week

Read the pillar, then follow the line. Five notes and you can read a session.

  1. 01How to read a TPO chart, letter by letterThe mechanics: how the letters build a day.9 min
  2. 02Value area explained: VAH, VAL, and the 80% ruleWhere the day did its business, and the levels that matter.6 min
  3. 03Initial balance: the first hour’s mapWhat the first hour tells you about the day ahead.7 min
  4. 04Market profile day types: a session’s six personalitiesRecognizing what kind of day you’re in.6 min
  5. 05Balance rules: the five ways a market leaves a rangeThe framework for trading the exit, no predicting.9 min

Market Profile is a registered trademark of CME Group. It’s used here descriptively, to discuss the methodology.