As traders we are given a lot of data, and are tasked with deciphering it into viable trades. This data can be interpreted in many different ways, and this results in 1000's of different trade strategies. From the simple, to the complicated.
Market Profile, in short, takes the Volume at Price (VAP) or Volume at Time (VAT) to give you a graphic representation of where buyers are in the market.
Why does this matter?
That Market Profile provides you with the key information on where traders are making trades, and not just where the price reached in a certain period of time.
If there is a high volume of trades at a certain price, you can gather that that price is considered a fair price for that particular stock, future, Forex pair, or CFD at that particular time.
That information gives us an edge when we are deciding when/if we want to place a trade. This is simple technical analysis.