Volume Profile is an advanced charting study that displays trading activity over a specified time period at specified price levels. The study (accounting for user defined parameters such as number of rows and time period) plots a histogram on the chart meant to reveal dominant and/or significant price levels based on volume. Essentially, Volume Profile takes the total volume traded at a specific price level during the specified time period and divides the total volume into either buy volume or sell volume and then makes that information easily visible to the trader.
GBPUSD RECAP:
GBPUSD is slowing filling the area of low volume created by the big bearish movement on the 23rd of June 2016 or as some may know it as BREXIT! (highlighted in one of my earlier uploads, linked bellow). Once this area of low volume is filled i anticipate a continuation of the bearish sentiment.
So far the re-tracement has only reached 23% meaning my ...
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