I want to have a small study about the price action of today.
It’s gonna be about Nasdaq during the New York AM session.
I. Before session (15h15)
The plan is to trade Opening Range Break help with volume profile as explained by Fabio Valentini. In very very simple terms, if price the low of the 99h30 to 10 am low you short. If price takes the high of the same range you buy. I’m gonna add the confirmation of a VP on that.
Volume Profile must show a « b » shape for short or a « p » shape for longs.
Now we have the framework, we just wait…..
II. Trading Session ( from 16h00 – 10 am EST)
VP is showing a « b » shape so we need to break the low to engage in a short position.
Price broke below the range. In taht particaular example we can 3 differents ways :
- at the open at the next candle after the break
- on the SIBI
- At the m1 OB
We aim for next liquidity of previous day VP levels.
III. How it did.
Remember it’s important to take profit at liquidity levels.
That’ it for me on this. Go have a study on this.
GLGT .
