Break Out Above Two Day High – Trend Day to the Upside

breakout trend day
Breakout trend day to the upside.

The market broke out above the two day high, repairing the poor high in the profile chart from 10/12, but re-entered the range slightly before mechanically bouncing exactly from the overnight high price level at 2774.50, at the C period low, before rallying.

Price one timeframed higher in all but two thirty minute periods, leaving multiple un-repaired anomalies and single prints in the market profile chart. Profile charts with multiple anomalies are often at least partially repaired the next day trading session, or soon thereafter.

Price acceptance above Tuesday’s high could target some of the un-repaired anomalies from the very poor structure in the profile charts from the prior week’s selloff

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