Eth Weekend Range Practice
I do not typically trade on the weekends due to low volume, but I practice paper set ups.
This could be a fun range to scalp this weekend.
Fixed Ranged Volume Profile and FIB's:
When Volume is low and markets settle down, using volume tools can help you backtest scalp trades.
For example, when we lose the Point of Control, do you short?
1) plan a stoploss (ex. above the last wick over the POC)
2) find a target (ex. take profit where shaded area is, the Value Area Low)
If we start going back above the Value Area Low, enter long, Take profit at POC.
Use fibs at pivot points to see if you find any confluence.
Back testing is important to finding a strategy and seeing if it actually works, however, forward testing adds the complication of emotions to the game.
If the range fails this weekend... try to figure out why it dumped or why it pumped.
Back testing is good n all, but forward testing strategies live is more beneficial.
Have Fun =)
This could be a fun range to scalp this weekend.
Fixed Ranged Volume Profile and FIB's:
When Volume is low and markets settle down, using volume tools can help you backtest scalp trades.
For example, when we lose the Point of Control, do you short?
1) plan a stoploss (ex. above the last wick over the POC)
2) find a target (ex. take profit where shaded area is, the Value Area Low)
If we start going back above the Value Area Low, enter long, Take profit at POC.
Use fibs at pivot points to see if you find any confluence.
Back testing is important to finding a strategy and seeing if it actually works, however, forward testing adds the complication of emotions to the game.
If the range fails this weekend... try to figure out why it dumped or why it pumped.
Back testing is good n all, but forward testing strategies live is more beneficial.
Have Fun =)
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