Tag Archives: gap

Gap Open Higher then Selloff

After a large 10+ gap open higher and small rally, price sold off sharply from a no-excess B/C period high at 2831.25.

gap, selloff
10+ point gap open higher then selloff to prior close

An early market profile trading reference could be at the 2822.00 late rally high at the close. Acceptance above that level has good odds of at least targeting the poor high. Failure to find acceptance back above the late rally high could test the session low at 2812.00, which was just one single tick above the prior day’s close, a potentially weak day time frame reference.

The prior recovery high at 2818.25 had been traded through, probably reducing the significance of that level as potential support.

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