Futures Day Trading with Volume ProfileToday was yet another amazing trade off a long term volume profile level for over 50 points on the CME_MINI:ES1! S&P500 E-mini futures.
I want to document these trades as teachable moments because I think Volume Profile is an absolutely amazing tool that should be in ever trader's toolbox!
Volumeprofie
EURJPY – SHORTThe possibility of selling from the Major Resistance Level and Supply Zone. Sell on a false breakout! The target is POC level in Demand Zone.
EURJPY – SHORT
ENTRY PRICE - 146.550
SL - 148.000
TP - 142.200
Always follow the 6 Golden Rules of Money Management:
1. Protect your gains and never enter into a position without setting a stop loss.
2. Always trade with a Risk-Reward Ratio of 1 to 1.5 or better.
3. Never over-leverage your account.
4. Accept your losses, move on to the next trade and trust the software.
5. Make realistic goals that can be achieved within reason.
6. Always trade with money you can afford to lose.
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Have a nice day!
BANK NIFTYImportant levels for 27/10/2022.
Last sessions low and the seller reference zone 41293-41353 will be important levels to watch out for. If we open flat and break PDL @ 41035, we can short and look for targets of 40852 and the old buyer reference zones of 40666-40733.
If we see a gap up open around the seller reference zone (41293-41353) we can again look to sell as the sellers can look to defend and we expect to see a good fall from these levels. If we take trades here, our initial targets will be PDL followed by above mentioned targets.
For longs, we will only buy if we see big gap down, else longs can be avoided. Will update here if we see some good scalping opportunities.
