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Trader Dale Volume Profile

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Price Action<br />

Another picture is an example of a trade I took yesterday:<br />

I was in a long position, and my Profit Target would normally be 10 pips (that’s the usual PT<br />

for my intraday trades). However, there was a significantly failed auction close to my Profit<br />

Target. I knew that the price is likely to test above the failed auction to get rid of this<br />

imperfection and to test if more buyers are willing to buy above this failed auction level. With<br />

this knowledge, I moved my Profit Target one pip above the failed auction, and instead of +10<br />

pip profit, I took +13 pip profit. Here is the trade:<br />

48

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