Wide Range, High Volatility. Anomalies in Profile

anomalies-in-profile-poor-low repaired
Market Profile charts with multiple anomalies are often at least partially repaired (revisited) during the next day trading session or soon thereafter.

Price sold off below the low from Friday, repairing the poor low in the market profile chart.

Price acceptance below the base of the spike at 2666.25 could keep the selloff tone in-tact, possibly testing the buying tail below 2624.50 single print.

There was no outside day as price closed back within the prior day’s range. Value ended the session as overlapping to higher. Price acceptance back above the spike base could see price at at last attempt to repair the anomalies in Monday’s upper distribution.

The market had been one time framing lower on the daily chart for seven consecutive days. One timeframing lower occurs when price fails to take out the prior day’s high by more than a couple of ticks. It is not uncommon for price to stop one timeframing for one day to allow the market to come back into balance before the one timeframing process resumes. An inside day does not negate one timeframing.

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Overlapping to Lower Value

Overlapping to lower value area,

The market profile chart featured a poor, no excess high and a wide point of control. Poor highs can be formed by the market getting too long (short covering) or by short term momentum traders selling at visual references.

There is high volatility in this market. Daily and weekly trends are down, with the monthly chart now taking out the lows from the four previous months.

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