Tag Archives: point of control

Overlapping to Lower Value

Overlapping to lower value area,

The market profile chart featured a poor, no excess high and a wide point of control. Poor highs can be formed by the market getting too long (short covering) or by short term momentum traders selling at visual references.

There is high volatility in this market. Daily and weekly trends are down, with the monthly chart now taking out the lows from the four previous months.

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Consecutive Inside Days, Points of Control

inside day market profile chart
Consecutive inside days, Back to backe points of control.

An inside day within the price range of the prior day’s inside range.

There is a poor high on the 10/12 profile chart.

Price could be drawn back to the back-to-back wide points of control at 2965.25 at some point.

A breakout of either side of balance is possible. A failed breakout of balance could potentially target the opposite end of that balance.

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