There was a volume accumulation area from which strong selling activity started. For that reason I think that the volumes accumulated in this area were volumes of strong sellers. Now I am waiting for pullback to this area. When the price returns I will enter my short trade. Reason? Those strong sellers will most likely defend their positions (that you can see on the Volume Profile chart) and push the price aggressively lower again. I will be talking about Volume Profile setups in my today's FREE Volume Profile Webinar (04:15 PM US/Eastern ). You can register here: ninjatraderecosystem.com/webinar/how-to-trade-with-volume-profile/
Hi @Trader_Dale, Im liking the volume profile approach a lot, can I ask you how do you set your short target, would it be accumulation clusters in the uptrend happening now? however looking at your risk:reward it seems you have already set your target around 750 before the uptrend has completed?
thanks in advance
MalanoMan
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I dont understand how these charts work and I do not think you do an adequate job of explaining them.
CryMoarz
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@MalanoMan, Looks fine to me. Perhaps it's your own failing?
MalanoMan
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@CryMoarz, Well actually yes it is my own failing. I don't know how to read these types of charts. I would expect you to explain them to the reader so that we can understand your analysis, but it appears you would rather explain through your webinar which you have advertised above.
MalanoMan
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@CryMoarz, Sorry I mean I would expect @Trader_Dale to explain these charts, but he is the one hosting the webinar.
CryMoarz
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@MalanoMan, Yes, he's a slimeball there is no doubt about that!
MalanoMan
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@CryMoarz, I don't think so. I just think it's frustrating he won't explain it here as well. I came to tradingview to hone my trading skills. Not this guy's webinar.
Trader_Dale
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@MalanoMan, Hello you are absoluty right!! I try described situation more on Bitcoin in this prediction. I hope it will help you :
SloppySeconds
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@MalanoMan, Jeebus, do a little research. Spoon fed much?
thanks in advance