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The short answer is I'm a bottom (and top) picker, the long answer is, I'm pretty good at it. I say that with sincere humility and humbleness. Trading with the volume profile and VWAP bands offer absolute price levels and lines on my charts that I generally use for entries and targets. I use two profiles, one begins at the globex open the other at 2am (Frankfurt open). Usually, the volume of the European session surpasses that of the globex overnight session quickly and the chart/line values align themselves (give the same reading) sometimes they don't (depending on the price level of the EU session open and the volume and movement of the market). So if I look at one chart and see the POC 1.2644 and the other chart has a POC at 1.2672 my job is to go with the chart "that's in play" at the moment. This view of the market often offers differing even contradicting opportunities to take positions in the market. You probably won't see me ratcheting down under the market trying to find/catch a bottom very often, but since today's market "had no bottom" once we took out the low (no previous profile from resent trading) I had to use the current profile as it was building. So, "why was your stop there in the first place?" it was a S.W.A.G. (Statistical-Wild-Ass-Guess). I confess, I'm a picker, and today, I'm a "grinner" ...... a humble one of course.
Honestly, i have no idea how strong will this surge upward be. I trade the structural framework that is currently developing or emerging while considering a certain degree of errors. Within this framework i try to sell on a relative high and buy on a relative low (read outer bands if it also coincides with other factors like supply/demand, swing highs/lows etc.).