How to use market profile in forex?
I myself always use the market profile a lot in my trading.
And I’m really not the only one who really enjoys using this tool.
In this blog I will briefly explain to you what the Market profile is exactly and how we use it.
The market profile is created to determine the significant levels that prominent market players take into account in their trading.
It is also known as horizontal volume.
The great thing about this tool is that it can actually be combined with almost any trading strategy.
Of course I use it in combination with Supply and Demand, which works very well for me.
Thanks to the Market profile, I can decide whether my Supply and Demand Zones are well drawn.
And also If a Supply or Demand Zone matches the POC (Point Of Control) market profile, the Supply or Demand Zone is often many times stronger.
Above we see a good example of the market profile and we also see how well this matches the Supply Zone.
Often these are also the areas where we have to pay attention to a good opportunity for a good trade.
We can also use Market profile very well to determine a possible Stop loss.
Definition / How to use market profile in forex.
Volume Profile is an advanced charting study that displays trading activity over a specified time period at specified price levels. The study (accounting for user defined parameters such as number of rows and time period) plots a histogram on the chart meant to reveal dominant and/or significant price levels based on volume.
Essentially, Volume Profile takes the total volume traded at a specific price level during the specified time period and divides the total volume into either buy volume or sell volume and then makes that information easily visible to the trader.
My opinion about the use of market profile is therefore only positive.
And I also use it very often to almost always in my trading. From experience I can say that it only improves my chances with the use of market profile. In my new Order Flow course I explain all this even better and of course much more.
So I’ve piqued your interest, be free to join the order flow course.
Please note that at least 6 months of experience is required with trading Supply and Demand.
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