How to Trade the NF using our Key reference levels....
Hi Good Evening all,
I got many queries form people who follow our key reference levels is that how to use those levels for intra day trading…
Before answering this question Iam telling you that Market Profile is not a holy grail and is just a form of analysis tool to understand the markets in a better way.
Market profile will not give you any buy or sell signals. You need to combine some price based systems to use in accordance with respect to market profile context.
I have designed my own price based system ( buy/sell System) which can be used in combination with market profile context to get better trades with strict SL in place.
So today we will look at NF data ( 19th June ) and how could we have traded based on the key reference levels from our EOD report.
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Today we are bullish in NF above 22580 targeting PDH and if sustains then looking for 22640/650 levels.
NF open higher above 22580 near PDH at 23611 , so that long opportunity was faded and could not be traded.
Now we will look for NF to sustain above PDH for a long trade. But did not sustain and we came back into our range. As u see in the chart a sell signal was generated as we got back into PDR. ( 3rd candle in 5 min chart) .
We have mentioned that unable to stay above 23610 and below 23580 is weakness.. NF came below 23580 and closed at 23536 and we got a follow through sell signal ( 10:10 candle )
Below 23530 next destination was 23510/23490/450 levels. NF did all the targets downside.
Now from 23450 ( low is 23432) we got a bounce and above 23550 we are again bullish
at 12.10 we got a close above 22550 and triggered a buy signal and did all the upside targets till 23580 levels and beyond ….
Then Again NF tagged day high and a failed breakout triggered a sell signal at 14.40 candle which all the way came to 23440 levels and closed as a neutral centre profile
So here we have used the market profile context and reacted to the system buy sell signals with strict SL to navigate the complex markets.
I hope I have answered all your queries regarding how to trade using key reference level and combine this with some price based systems for execution in lower TF.
If any one need my price based indicator system can contact me on whats app or telegram at 9894731924. This system will be given to all on a subscription basis for a small charge which will cost less than one SL of your trade.
Wish you all a great trading days ahead……