Tag Archives: fibonacci

Narrow Range, Inside Day

Narrow range, balanced inside day in the ES with price trading above and below the 2153 prior day’s late rally high and closing price in 11 of the 13 market profile periods.

inside-day-above-prior-rally-high

There was just over a 6 point total range for the day until the final minutes of the pit trading session, when price rallied from the K period pullback low (the exact half back level at the time) to take out the day’s earlier 3 TPO wide poor high by two points.

poor-high-repaired

The 11 TPO wide prominent point of control keeps 2153.25 an important reference. If price opens within range, any breakout from the inside day should have better odds of continuation if price first checks in with the wide POC. But with such a small trading range there are also good odds that price opens with a gap the next regular trading session.

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