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Market Profile – For Your Viewing Pleasure

The AMS Market Profile Tool is Powerful

by The Ticker

 

With all of the “buzz” surrounding the AMS Zone Decoder (for good reason) we should not forget about the AMS Market Profile tool especially if you are more of a position trader deciding which “off the grid” futures to trade during periods of seasonality.

In the past we’ve only been able to sort through a couple commodity futures as we decide which offered the best opportunity for the upcoming period but with the improvements made on the existing platform we were able to analyze several more this week.  If there are any others you are interested in that we’ve missed send me an email at david@amstradinggroup.com and we’ll get it worked up for you.  Why not consider jumping on board with AMS as we finish development of our browser and web-based platforms.  We have a “Black Friday” special running.  For additional information just send Niels an email at niels@amstradinggroup.com if interested.

Copper

Let’s start with Copper (HG) today.  The trend has been to the upside given lower interest rates and the world, perhaps coming back to normal with vaccines and treatments becoming available.  The moves have been rather dramatic in both directions so keep your eyes glued to the screen.

By: The Wizard

HG – Market Profile – 30 Minutes

A quick look at the 30-Minute chart suggests that the contract has the potential to pull back to the $3.27 level.  There is a significant amount of support underlying this level with the highest concentration of volume slightly above $3.21.

 

HG – Market Profile – Daily

The Daily Market Profile chart shows the uptrend intact with the path of least resistance being to the upside.

 

HG – Market Profile – Weekly

The Weekly Market Profile chart suggests a continuation of the uptrend line as well.  Copper prices have just pierced resistance from the late 2018 – early 2019 period which should provide significant support upon any attempted pullback.

 

HG – Market Profile – Monthly

Perhaps the most convincing reason to buy Copper comes from the monthly chart.  A move through resistance at the $3.40 level suggests much higher prices are possible.  Time will tell and again, day-by-day pay attention to the shorter term charts.

 

Natural Gas

And now it’s time for the “Widow Maker”.  Natural Gas is perhaps the futures contract most responsible for causing divorces.  We highly recommend trading options, preferably the February 2021 series, $3.20 or $3.30 calls in particular.

 

NG – Market Profile – 30 Minutes

Nothing remarkable with respect to the 30-Minute chart.  Without cold weather on the horizon (something that will undoubtedly change) prices have consolidated where they should, the lowest area of prior volume.  From this point both support and resistance levels are in play but simply put, “it’s the weather” that will control the next move.

 

NG – Market Profile – Daily

The most interesting feature on the daily chart is the “gap” slightly above the $2.90 level.  Gaps, most certainly this one, gets filled especially upon the onset of colder weather.  There’s some resistance from earlier moves higher last month but should cold weather be predicted particularly in the northeast, also accompanied by snow, this prior resistance will be convincingly pierced.

 

NG – Market Profile – Weekly

There’s not much to garner from the weekly chart to the exception that higher prices are more likely than lower ones.

 

NG – Market Profile – Monthly

The monthly chart with its high volume mark well above current prices is inviting. This is perhaps the first year in the last several years where “T. Boone Pickens Prices” are possible.  Demand for natural gas worldwide has increased.  Any transmission and delivery problems have the possibility of causing natural gas prices spike.

We think it is going higher.  We are long February 2021 $3.20 calls.

 

Orange Juice

It’s been a while since Orange Juice has appeared on my seasonal “watch” list.  Due in part from declining demand, the “Brazil” effect and simply no major weather events, hurricanes of freezes, there has not been any reason.  While reading TradeChat yesterday a known poster asked me to take a look.  He was right so we welcome Orange Juice to the list.

 

OJ – Market Profile – 30-Minutes

Nice move over the last week.  Remember Orange Juice is not traded 24/7 so the “30-Minute” graphic tends to show more dramatic movements day-to-day versus other commodities.  What we see here we like, solid movement higher, a retest of the move, 50% pull back followed by recovery.  Looks like all systems ready for launch.

 

OJ – Market Profile – Daily

If there is anything negative to say it revolves around declining demand but that is not evidenced by recent moves.  I ran background research on the commodity and didn’t find anything remarkable.  Anyone with different information, positive or negative let us know, thanks.

 

OJ – Market Profile – Weekly

Finally some confirmation of a solid upside potential.  Orange Juice prices broke through all higher horizontal histogram levels last week testing each as it moved higher.  Time to take a look and thanks again for the tip.

 

OJ – Market Profile – Monthly

Again, confirmation of the beginning of the potential to challenge highs last seen in 2017 perhaps even higher.  Drink more Orange Juice!

 

Soybeans

All I’ve heard over the last couple weeks is that it’s time for “teenie beanies” again.  From the looks of the charts and underlying political and financial scenarios it is entirely possible.

 

ZS – Market Profile – 30-Minute

Really could not ask for more from a short term chart.  While resistance remains it is as easily tested as is the downside.  Prices are all over the board.  I would expect one more downside test and if it holds, a move to higher levels.

 

ZS – Market Profile – Daily

Trend looking higher with dual levels of support.  Easier to go where no contract has been in recent periods than not.  Not a Star Trek play on words as Soybean traders like it best at higher levels, especially the “big boys” as they are paid on revenue generated selling the crop itself.

 

ZS – Market Profile – Weekly

A potential exists to test lower but unlikely.  still that’s a pretty big upward spike and those often get tested.  If it does more people will jump on board.

 

ZS – Market Profile – Monthly

We have all been here before.  Soybean launches into the “teen” levels always start here.  Once over the last “hump” a break to the upside normally occurs and we are on our way.

 

So there you have it.  There’s more to the AMS Trading Group”s platform than Zone Decoder.  Market Profile, when used as above, lets you see the “big picture” whether for the last couple days or last couple years.  It’s a tool for those of you who are position traders like me as well.

We at AMS have what we’ll call a “transition deal” posted over the next day or so.  We are going to move to our own browser / web-based platform in the next couple months.  In the interim, we’re putting our Lifetime and Annual Licenses on sale.  This is the last time we’ll offer the Lifetime License so if you love our systems and want the best savings deal we’ll ever offer email Niels at niels@amstradinggroup.com.

Thanks always for your support and in this case the heads up to check out Orange Juice.

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