Seeing some slow down in $CL #CL_F right at the site of the nearest weekly supply. Today is technically a responsive activity day (read: "boring" 😂) so some kind of a fade from this area has a higher probability of working out.
I am trying a short...
...although I'm mindful that this is a bit slow for a real Failed Auction opportunity, I'm still more comfortable being a seller around here
Okay this is way too slow for FA, I'm out for -0.6R
I may consider a long sustained auction towards the average session range which is a bit higher than the ATR. I'll see how the price behaves. If not I'm done. I don't really see anything else today in crude or gold tbh. A rare moment lol
The moment you start trading using tools like #marketprofile#supplydemand zones, average ranges etc, you focus on market-generated information. Not a crystal 🔮
Order flow levels/mean averages are not MYTHICAL. They have a high probability of causing fast reversals.
If you've opened a 'with the trend trade' and price went immediately against you, it's likely that you've hit one of these ZOIs without knowing it.
Re-evaluate WHERE the trade went wrong and look at where the previous day volume value/tpo value was, whether you've hit ATR/ASR
Note down these levels and next time STOP 🛑 AND WAIT ✋️⏱️
Then look for evidence of price TURNING at these ZOIs.
You will start to see an improvement in your locations and decisions.
Because it's so much easier to trade by just READING what the price is doing at a ZOI...
5 bad habits that can ruin your trading performance:
1. Getting out of bed and IMMEDIATELY sitting down to trade.
However chirpy you may be in the morning, it's still always better to first get the blood moving, rehydrate, properly wake up and THEN start your market prep
2. Not feeding your body/brain properly 🧠
Eating junk & getting wasted with degenerate friends is fun, instant gratification but it negatively affects NGF (nerve growth factor) needed for neuroplasticity.
Fatty acid deficiency stops brain development. Now go get that sushi 🍣
3. Not doing post market performance review. Sitting down, trading like a lunatic then moping around for the rest of the day because you lost a fuck ton of cash won't make you into a better trader.
Trade=>review=>identify weak spots=>improve=>try again ⚙️
HOW TO START USING MARKET PROFILE in your intraday trading:
Use only ONE session to calculate the value area. Not 24hrs, not several days, not mix-and-match other sessions
1/14
Read open sentiment correctly. Open sentiment == which direction price should take.
If there's a large gap at open, it's a sign that the market has gone too long or too short overnight. It rarely leads to continued strong trending moves. Unless you're trading equities.
2/14
Thick profile structure on the day is rarely a sign of a confident auction (auction meaning a successful movement in one direction). If you have 4+ TPO letters per row, this is a slow auction. It can also be a confirmation of a boring day.
3/14