Saturday, January 13, 2007

Market Profile Trends

I need to understand the past 3 days trend, the past 7 days trend, amd the last 3 weeks trend in order to be prepared for the next trading day.
Friday I should have been looking to take the LVA which came right around my prefered time of 10:30am. Why? The short term trend changed to bullish, so I should have been expecting another bullish day following a breakout day. That's what occured on friday, we had a bullish range setup in the morning, in which I didn't take part in because I quit early because the volume looked really weak for good trading. Next time I will need to take the short term trend into consideration for planing my trade for the next day.
Short term trend bullish = Buy LVA on range day
Short term trend Bearish = Sell UVA on range day
Short term trend consolidating = Look for breakouts


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