I am spending a lot of time with profile charts, have read mind over markets (not as religiously as some do it).
My goal is to take position for 3-5 days with a small stop (0.5 ATR), I want to operate at a risk reward of atleast 1-3.
Here are my observations-
I view composite profiles of past 6 months and trade based on that taking entries using 1 month profile.
1) Profile shapes are usually -
low tpo nodes
histogram
low tpo nodes
2) Best trades comes at low tpo nodes
3) Once the market has reached a 6 month profile low tpo node
a) Open a 1 month profile
b) Wait for market to break(cross) a low tpo node in the direction you are anticipating a trade, usually this will be accompanied by a price action pattern such as a wedge or channel top. The stop for the trade becomes the high tpo node just above the low tpo node that has been broken.
c) Target for the move becomes range bottom on the 6 month profile.
The edge of the method is in different time frames of ranges being traded. Stop is small and usually triggers within a day if wrong.
Ok, so currently I am only paper trading this method ( primary trading method albrooks price action on daily charts).
I need some videos or some reading material of any person you know who trades this way.