Trader Dale Volume Profile
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<strong>Volume</strong> <strong>Profile</strong><br />
Important notice: An important thing about reversal trades is that the price must not respect<br />
your original support/resistance level at all and it must shoot past it. If for example, the price<br />
reacts to your level, only 1-2 pips before it, then I don't recommend taking the reversal. In such a<br />
case the level worked, only a bit sooner.<br />
Changing your bias: I should warn you that talking a reversal trade is not an easy thing to do, at<br />
least not for your mind. The reason is that when you enter a trade, you trust it will work - you are<br />
biased. When the price goes against the original bias, people tend to hope, pray and they still<br />
trust their trade. They are unable to admit that they were wrong. Even when they take a Stoploss,<br />
they believe that the price will eventually turn and that they were right. Because of this, the<br />
hardest thing about reversal trades is changing your bias quickly. So, for example, when you enter<br />
a short position, you believe the price will go down, you are short biased. When you take a Stoploss,<br />
then you should immediately change your mind to be long biased. This is easier said than<br />
done! My advice is to practice changing your bias by entering all reversal trades with a small<br />
position at first. When you see how nicely reversal trades work, then you will gain confidence and<br />
changing your bias will become easier for you.<br />
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