Tag Archives: one timeframing

Break Out Above Two Day High – Trend Day to the Upside

breakout trend day
Breakout trend day to the upside.

The market broke out above the two day high, repairing the poor high in the profile chart from 10/12, but re-entered the range slightly before mechanically bouncing exactly from the overnight high price level at 2774.50, at the C period low, before rallying.

Price one timeframed higher in all but two thirty minute periods, leaving multiple un-repaired anomalies and single prints in the market profile chart. Profile charts with multiple anomalies are often at least partially repaired the next day trading session, or soon thereafter.

Price acceptance above Tuesday’s high could target some of the un-repaired anomalies from the very poor structure in the profile charts from the prior week’s selloff

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Inside Day Following Outside Day

Short covering early following price opening at the previous two day balance low.

inside day following outside day - market profile chart
Inside day following the prior outside day

Traditional market profile references are not as reliable in instances of short covering. Wednesday’s late spike base was of little significance as price one timeframed higher to begin the trading session. The one timeframing higher stopped in H period, and price reversed and continued to one timeframe lower for the remainder of the day trading session.

Thursday’s profile left multiple anomalies. Often at least some anomalies in a multi-anomaly profile structure are revisited the day after, or soon thereafter, they are created. The low from Wednesday remains questionable, being exactly at the half back level from the 9/18 profile.

Inside day following outside day to the downside
Anomalies in profile from 9/27, inside day
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