In today’s video we take a closer look at the E-mini S&P 500 futures contract. Using the daily chart to show the overall trend structure, then drilling down to the intraday price action using a TPO chart (Time Price Opportunity) and volume profile, we highlight a key pivotal level for today’s session.
For those unfamiliar with TPO charts, they show how much time a price has been traded over a period using a vertical histogram chart. The easiest way to look at them is to think of ‘looking inside’ a candlestick to show where the most trading activity has taken place within it. When used alongside volume profile (which is another histogram which shows trading volumes) it can be a useful tool for day traders, or even higher timeframe traders looking to fine tune their analysis.
How to trade with FOREX.com
Follow these easy steps to start trading with FOREX.com today:
- Open a Forex.com account, or log-in if you’re already a customer.
- Search for the pair you want to trade in our award-winning platform.
- Choose your position and size, and your stop and limit levels.
- Place the trade.