Trader Dale Volume Profile
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Finding your style<br />
Finding your style<br />
In the previous part where I showed you the volume setups, I didn’t stick to any particular<br />
timeframe. The reason is that those setups can be applied to any timeframe because the <strong>Volume</strong><br />
<strong>Profile</strong> is really versatile and it isn't time dependent.<br />
You can use it for intraday trading, swing trading or to planning your long-term investments.<br />
Important thing is to find what suits you best and then master the method. If you are still finding<br />
your style, then I suggest you try it all and see what suits you most.<br />
Intraday trading<br />
I suggest that you do your intraday analysis on 5-minute to 1-hour charts (I prefer 30-minute<br />
charts). Look for the volume setups I showed you and identify the strongest volume-based<br />
support/resistance zones.<br />
Trading instruments for intraday trades<br />
Good trading instruments for intraday trading are those that have really high liquidity and the<br />
tightest spreads. If you trade forex, then the best forex pair to start with in my opinion is the<br />
EUR/USD. With a good broker, your spread could be almost 0.0, which is perfect for intraday<br />
trading. EUR/USD also has the best reactions to volume-based S/R levels. When you feel<br />
comfortable trading the EUR/USD, then you can add another major forex pairs like AUD/USD,<br />
USD/CAD, USD/JPY, USD/CHF...<br />
As far as cross pairs are concerned (pairs without USD), I don’t think that trading those is any good<br />
because you usually can’t get your trading costs low enough to daytrade them.<br />
Another good, non-currency instruments for intraday trading are major indexes like S&P 500 or<br />
Dax and oil.<br />
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