Late Day Market Profile Spike before Brexit Vote

late day spike before brexit voteWith not even an 11 point range until the final 30 minutes, Thursday’s regular trading session was apparently dominated by short term and day traders awaiting the results of the upcoming historic Brexit vote.

A gap open saw price re-visit, but not gain acceptance, back into the previous day’s range in A and C periods. Value was clearly higher.

Thursday’s point of control, or fairest price, migrated higher in the final 30 minute trading period to 9 TPO wide at 1997 from the previous 8 wide at 1995.50. The breakout of the inside bar in L period created range extension above the early E & F period poor high.

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