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Curriculum/Volume Profile
Volume Profile13 min read

HVN & LVN.

Price moves fast through thin areas and slows down in thick ones. That's the whole concept. High Volume Nodes are thick. Low Volume Nodes are thin. Once you start seeing this on a profile, you can't go back to trading without it.

HVN
High volume. Two-sided trade. Price rotates and stalls here.
LVN
Low volume. Thin participation. Price accelerates through here.
HVN
Next HVN is always the target when price is inside a LVN
Video by Trader Dale — HVN and LVN: Volume Profile concepts explained

What an HVN is

An HVN is a price range where volume is significantly above the surrounding average. They form during consolidation phases, range sessions, overnight periods when price sits anchored, and any time both buyers and sellers are comfortable transacting at a given level over and over.

The key word is "comfortable." An HVN represents agreement. The market spent time there because it was considered fair. When price returns to an HVN, that same two-sided behavior tends to resume.

What you'll see at HVNs:

  • Momentum slows or stops as price enters the node
  • Candles get smaller. Wicks get longer. Range contracts.
  • Price rotates back and forth through the node rather than trending
  • Multiple tests before a decisive break in either direction

HVNs are destinations. They're where trending moves end and rotational periods begin. If you're in a directional trade, the nearest HVN above or below you is likely your exit zone.

What an LVN is

An LVN is the opposite. A thin slice of the profile where price passed through quickly with minimal participation. The market treated that price as unfair, moved away fast, and left very little volume behind. When you look at the profile, LVNs appear as gaps or extremely thin bars between thicker ones.

What you'll see when price enters an LVN:

  • Candles get larger and faster. Price covers ground quickly.
  • Very little resistance. Few resting orders to absorb the move.
  • Price often gaps through the node on moderate volume
  • Once broken, the next HVN becomes an almost magnetic target
Don't take profit inside a LVN. There's nothing there to stop price. The right exit is at the next HVN, not in the middle of the thin air between them.

Bimodal distribution

A bell curve profile (from the previous lesson) has one dominant cluster. Bimodal and complex profiles have multiple clusters separated by thin zones. Those thin zones are your LVNs.

The profile below shows two HVN clusters separated by a clear LVN. This shape forms after a directional move that started in one cluster, traveled through the thin zone, and built a second cluster at the destination.

ES Futures — Two-Day Composite Bimodal profile
5250.25
5250.00
5249.75
HVN
5249.50
5249.25
5249.00
5248.75
5248.50
5248.25
LVN
5248.00
5247.75
5247.50
5247.25
5247.00
POC
5246.75
5246.50
HVN
5246.25
5246.00
5245.75
Two HVN clusters (upper: 5249.00-5249.75 area, lower: 5246.50-5247.00 area) separated by a thin LVN at 5248.00-5248.25. The POC sits in the lower cluster, where the most total volume traded. When price breaks above the LVN, target the upper HVN. When it fails back below, target the lower HVN.

HVNs and LVNs as a system

Think of HVNs as destinations and LVNs as corridors. A trade set up at an HVN targets the next HVN. The LVN in between is where momentum builds, not where you exit.

Scenario 1 — Breakout from HVN entering LVN

Context: Price has been rotating inside a lower HVN for 45 minutes. Sellers are losing control. Volume starts shifting bid-side. Price breaks upward from the HVN into the LVN above it.

Action: Hold or enter long. The LVN is the accelerant zone. Very few resting sellers. Price will cover the LVN quickly.

Target: The next HVN above. Mark it before entry so you know where to exit.

What not to do: Do not take profit inside the LVN because it felt like a big move. You'll miss the full travel to the HVN destination.

Scenario 2 — Price returns to an HVN from above

Context: Price ran up to an upper HVN, rotated there for a while, then sold off. It's now returning toward a lower HVN from above.

Action: Watch for responsive buying to appear as price enters the lower HVN. This is the mean reversion fade.

Entry signal: Buying absorption on the footprint, positive delta shift, price holding above the bottom of the HVN range.

Target: Back toward the upper HVN, with the LVN in between acting as the accelerant on the way back up.

Scenario 3 — Failed HVN hold (force through)

Context: Price enters an HVN and initially shows the expected rotation. Then a large initiative move punches through the HVN with high volume and no absorption.

Action: Abandon the mean reversion thesis. When an HVN gets taken out on heavy, one-sided volume, it signals strong directional conviction. The move has more to go.

Note: Footprint and DOM confirm this. If the footprint shows no absorption at the HVN, the "magnet" effect is not working. React to what's happening, not what you expected.

Composite vs session

This is where a lot of traders go wrong. A node's significance depends entirely on the timeframe of the profile it comes from.

A session profile shows today's HVNs and LVNs. A composite (multi-day or multi-week) profile shows where the market has accepted value over a longer period. These two can point in opposite directions at the same price.

A session HVN sitting inside a composite LVN is a weak level. The long-term market already rejected that zone. Today's activity building a fat bar there is temporary. When composite structure and session structure conflict, composite wins for bias and targets. Session structure refines your entry timing within that framework.

Always check the composite before trusting a session node.

Label this profile

Six rows from a composite profile are shown below. Identify whether each is an HVN, LVN, or the POC. Bar width represents relative volume at that price.

4823.50
4823.00
4822.75
4822.25
4821.75
4821.25

Quiz

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