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OK, this is my journal and here is a brief summary of my trading style:
I trade 3 well known scenarios described below. I use volume profile, volume clusters and foot-prints.
Scenario A
- price is trending up or down
- trend correction
- buyers or sellers trappped at the top/bottom of correction
- TRADE ENTRY (trend continuous)
Scenario B
- price is moving in the range (rotation)
- break from the range
- buyers or sellers trapped outside the range
- TRADE ENTRY (back to the range direction)
Scenario C
- price is moving up or down to test some of previous swing High or Low
- market is not able to move forvard after the test
- buyers or sellers are trapped
- TRADE ENTRY (opposite direction)
See examples on Crude Oil:
Tuesday, April 19th, 2016
Can you help answer these questions from other members on NexusFi?
Well, it's about context. In this particular case I assumed price will continue moving down. So when I see more buyers at given price levels, but their activity isn't followed by price moving up, I enter aggressive short. Of course I can be wrong, but that's what SL is for.
Generally, when buyers at ask are stronger then sellers at bid and price doesn't move up and contrarily tends to start falling I am aggressive short. (But again: context is the most important every single time. An to be able to read context correctly you need practise and practise and practise...)
I look for impulse moves then find volume imbalance clusters to lean against on the retracements. Both trades failed as the market did not follow through. Fortunately I recognized the inability of the market to go up and got out both at BE.
I assume you color the numbers based on some percentage difference between buy volume and sell volume. Is the comparison done at the same price or on the diagonal between bid and ask?
