The majority of trades on the CBOT Market Profile take place within a specific price range, typically around 70% of the day's activity. This range is known as the value area, and it is an essential concept in understanding the dynamics of the market. By analyzing the value area, we can gain valuable insights into supply and demand, as well as potential price movements. It is a crucial term to familiarize oneself with when delving into the world of finance and trading.