okay so recently i made a little post on
my telegram group telling people that uh
gbp usd was at a major level of support
and that it's probably going to go up
that trade went up a lot overnight and i
want to explain
a few things about that trade as well as
something else that i want to start
implicating in most of my day trading
and it's a really fun trick to
understand where the support and
resistance levels are in a given session
so in this video we're gonna talk about
volume profiles
[Music]
welcome back to the channel everybody my
name's artie and this is the moving
average a show where we discuss
everything day trading to keep you
profitable on a consistent basis i
really want to try to make this video
short so let's just get into the charts
this is gbp usd on a one hour time frame
you can see a nice clear downtrend with
a break of that trend line a retest of
that trendline and a way up a direction
up a rejection up it went up you could
also see at that point we were making
lower lows but on the rsi we were making
higher lows showing us a clear and
concise divergence right here
boom boom lower lower
higher not only that but a very
important level on gbp usd are even
numbers 1.3000
the trade i made right here was just for
20 pips with a 10 pip stop loss that
happened relatively quickly the overall
move at night was about 45 pips but
something interesting that you can throw
on your charts to help you understand
price continuations with the trend at
specific levels during specific times of
the day each session is broken up into
different areas of the world we have the
london session where europe trades we
have the new york session where the
americas trade and we have the tokyo
session where the other half of the
world trades so a fun indicator that i
want you guys to start learning and
start training on not implement this
right away i want you to be educated on
this first if you go into the indicators
tab and click the technicals the third
option is volume profiles i want you to
select this one right here volume
profile session volume what that's going
to do is give you sessions highlighted
as well as the buying and selling volume
at specific prices not at the bottom but
vertically so instead of having major
support and resistance levels on a
higher time frame you can see that this
middle area where the volume was the
highest that's going to be your support
and resistance for the next time frame
the other way that you can use that is
if we are in a downtrend and as the
price comes up to retest that trend line
what you can do is wait until it got
through that high volume area
then to get into your position because
at this high volume area is where the
pressure is going to push that market
down continuing the trend then as the
volume starts to decrease you can see
that on the bars here on the left the
volume started to decrease where it
started to lose momentum and push back
up towards that trend line now a lot of
people use these volume profiles as
entries for their trades like that's the
area that they want to get to and then
get in their trade but i've found that
it works best if it's leaving that area
if you are trading with the trend and
the price is leaving that high volume
profile area you want to ride that trend
down until the volume starts decreasing
and then get out of your position
because what we're seeing here is a loss
of momentum
high volume high volatility
easily stopped out in this area but if
you get it as it's leaving that area and
then the volume starts decreasing
showing a loss of momentum you can ride
trades for much longer feeling safer
that you're going to get out here
because the volume is not there to
support
the continuation of that move another
thing that you can toss on here is the
v-wap line the v-wap
is volume weighted average price and
basically i want you to use this as a
trend indication so as the price came up
here and rejected the trend line and
then started trading below the v app you
know that it's going to keep pushing
down basically you just want to trade
longs above the view app and shorts
below the view app but overall in
consensus with what the price is doing
whether it's in an uptrend or a
downtrend and as you can see right here
we are now pushing up from this area
because in the previous session this was
the high volume area this is now the
level of support prices above that came
down to test it rejected it and is
shooting up very fun indicator to play
with links in the description down below
now if you want to learn about the
support and resistance trendline thing
check out this video right here and if
you want to learn about v-wap check out
this video right here and if you guys
got some value out of this video and you
like the way that i teach make sure
you're clicking the like button below my
face because it helps the channel a lot
thank you so much for watching and we
will see you in the next video