USOIL
15m time frame day trade using Volume Profile.
Expect support at the high volume node where accumulation was happening before the move up. Expect to bounce off this level and continue to move up.
Trade closed: stop reached:
LEARNINGS:
• Consider taking the Daily chart into perspective when trading at the lower time frames.
• I identified the high area nodes on the 15 min chart, but looking at the daily, they were not a major high vol node.
• The real high area nodes on the daily was where the price action actually bounced off, was the real vol where everyone was protecting. You can actually see the dark dashed lines on the right hand chart where candles bounced off the POC level.
• Consider taking the Daily chart into perspective when trading at the lower time frames.
• I identified the high area nodes on the 15 min chart, but looking at the daily, they were not a major high vol node.
• The real high area nodes on the daily was where the price action actually bounced off, was the real vol where everyone was protecting. You can actually see the dark dashed lines on the right hand chart where candles bounced off the POC level.