Little volatility following the release of the FOMC minutes where the FED left rates unchanged. The market profile chart formed a double distribution, with just two ticks separating the two balance areas.
Value was overlapping to lower along with a point of control that had migrated lower during the session.
Looking at each distribution as a separate balance, balance trading scenarios could apply; look either above or below a balance and find acceptance – potentially targeting the opposite end, look above or below a balance and fail – potentially targeting the opposite end, or remain balanced.
The odds could favor another balancing day on Thursday ahead of Friday’s monthly jobs report.
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