its all about ranges
market is always doing one of two things.
either rotating or expanding.
know what its doing now and you know what to expect
BITCOIN is now expanding the range.
will ofcourse during the course of expanding will also rotate back to POC.
REVERT BACK TO MEAN
BASED ON MARKET PROFILE
These VA levels are my own studies.
I Simply use VA or 68% of Range instead of volume or price.
doesn't help me much yet, its still studies in the works
Didn't exactly reach VAH
still adjusting the ranges.
in real trading, that could mean loss
knowing the direction isn't enough in trading any instrument
EVERY MARKET HAS A RANGE
THIS RANGE Has Upper Limit and Lower Limit. and market always in rotating state within these ranges and Unless the big boys decide to expand the range and take different targets it remains within the range.
Say the range yesterday is 25 PTS and thats from hi to lo
Double that = 50pts
and
1.3 the range
thats for daily
for weekly . same thing find the true weekly range and you are good to swing it for a week.
Thats how i look at ranges and targets, The most important thing is your ENTRY point. it should be immaculate entry.. Flawless.
Focus all your effort on the entry point and the Targets come on their own. cause it becomes objective and I become as a trader very objective will have reasonable goals and expectations
I have posted this in a different thread.
so that i don't repeat it. i just copied and pasting here...
https://www.forexfactory.com/showthr...9#post11101479
"I give all, hold nothing.
Learn to use Market Profile on the market you want to trade.
every market is different in range.
Pay attention to market ROTATION or EXTENDING CYCLE mode
MARKET IS DOING ONE OF TWO THINGS ALL THE TIME: EXTENDING or ROTATING
and More importantly practice practice practice....
reason for practice.... you must build your own system within the system ( market profile) , why? cause everyone perceives things differently. its called thought process
Trade market that has big ranges ranges
trade fx 2 to 3 days swings
trade sp500 futures intraday at the US equity open only
Trade using market profile. you will begin to notice and i repeat, you will begin notice market movement interacting with your system and based on that you start adjusting little by little on your own. Keep in mind that money management and fundamentals are very important and not very hard. get that concept under your belly first then start taking trades at the opens. Look for 3 to 4 days of trending ( extending mode) , and go opposite (ROTATION) based on market profile number alignment ( back to Mean mode)."
