If you Trade Futures You Need to Read This....
Unless you are a long term swing trader like myself the lines you see on the chart below represent something extremely important. They are not just volume area or market maker areas but opening range lines. I want you to take special notice of what they are and how price adheres to them as the week progresses.
I am disclosing an important little secret of the pro traders here for your own benefit. You should keep a note of all the opening ranges on your chart. You can then see when price comes to a certain area how many of them are nestled within a certain area which adds power to the volume profile. Most people use volume profile wrong. Most people have no idea where to enter or exit a trade in relation to volume. Volume has a swing range where price moves up and down while buyers and sellers push price higher and lower. This is why the market makers and brokers know you are mostly going to lose because it is hard to gage when the volatility is going to settle for you to make a trade that won't get run.
You have heard me say it before that a volume area can be quite large. Sometimes in weekly charts it can be 200 ticks or more. That is pretty big when you are using a tight stop. So check the chart below and see how I post all my opening levels which define for me who is really in charge of the market. Buyers or sellers. If you want to follow my trades then we are going to open a trade room shortly. I would recommend it if you want to try to master making some money.
Cheers!
I am disclosing an important little secret of the pro traders here for your own benefit. You should keep a note of all the opening ranges on your chart. You can then see when price comes to a certain area how many of them are nestled within a certain area which adds power to the volume profile. Most people use volume profile wrong. Most people have no idea where to enter or exit a trade in relation to volume. Volume has a swing range where price moves up and down while buyers and sellers push price higher and lower. This is why the market makers and brokers know you are mostly going to lose because it is hard to gage when the volatility is going to settle for you to make a trade that won't get run.
You have heard me say it before that a volume area can be quite large. Sometimes in weekly charts it can be 200 ticks or more. That is pretty big when you are using a tight stop. So check the chart below and see how I post all my opening levels which define for me who is really in charge of the market. Buyers or sellers. If you want to follow my trades then we are going to open a trade room shortly. I would recommend it if you want to try to master making some money.
Cheers!
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