Trader Dale Volume Profile

Market analysis from A to Z
Market analysis from A to Z
Intraday trading analysis
In this place, I would like to tell you how to approach your daily analysis of the markets from start
to end.
The first thing to do in your daily analysis is to have a look at a macroeconomic calendar and see
what news and events are coming up during the day. You need to mark the time the news is
coming up. You don't want to end up caught in a trade that got triggered by a spike during the
news.
Next, you want to look at the overall trend or the big picture of the asset you are about to analyze.
You can do this by looking at a 240-minute or a Daily chart. This way you will see whether there
is an uptrend, downtrend or a rotation. If there is a strong uptrend then you want to take only
long trades. If there is a strong downtrend, then you should only take short trades. In case there
is a rotation, you can take both long and short trades. You need to be aware of the overall trend
because intraday levels are usually not so strong to stop or change a strong trend. If strong buyers
or sellers are pushing the price aggressively in one direction for days, they won't really care if
there is a "weak" intraday level in their way.
When you have marked the most significant macro news and you are aware of the overall trend,
it is time for a daily price action analysis. I personally do this analysis on 30-minute charts. Also,
15 minute or 1-hour charts will do the job. In this place, you look at the chart and mark all the
significant areas and information the price action is giving you. The most important thing to notice
is significant sideways price action areas, aggressive initiation activity (trends) and strong
rejections. I was talking about these in the Price Action section of this book. Let me show you
(again) a picture which should make more clear what I mean:
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