Good work. The market profile is an average system and not trustworthy. I actually tried this system some time in October, not yours but the market profile concept. My experience with the market profile is its susceptible to news, market session, market status. Its profitable in some conditions but risky in others. It does well with some pairs but poor with others. When you adjust your indicator to look back in order to set the the point of control to shown by the red line isn't that highly subjective and contradicting your earlier statement where...
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Hi Klopp
TBH i do not really use the profiles to judge the next days trading based on the previous day i consider just the value area highs and lows, POC's to form strong areas of S/R.
I also use these as a forecast and a leading strategy where i do not wait for a close of bar i enter on price no matter what stage of any TF bar shows
As for the history point i knew when i wrote that i didnt explain it properly but couldnt be bothered to change it lol
{quote} Hi Klopp TBH i do not really use the profiles to judge the next days trading based on the previous day i consider just the value area highs and lows, POC's to form strong areas of S/R. I also use these as a forecast and a leading strategy where i do not wait for a close of bar i enter on price no matter what stage of any TF bar shows As for the history point i knew when i wrote that i didnt explain it properly but couldnt be bothered to change it lol Wags
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I get it now. I see where you are coming from. From what you've said I agree with you on the value area and highs and lows.
Regarding the image shared when you short of the POC after first move on circle marked red price follows textbook rule before turning and going long. If you were to cancel that trade and get on the next red circle price does the same thing. Essentially a range and thin market profile is not ideal.
