Tag Archives: price acceptance

Three Distributions, Anomalies in Profile Chart

Friday’s ES regular trading hour session ended the light volume holiday week closing with three separate distributions/anomalies in the profile.

If price opens inside Friday’s upper distribution on Monday, balance rules could apply:

– Look either above or below the poor high at 2425.00 or late pullback low at 2421.50 and accelerate/find acceptance
– Look above or below balance and fail, returning into and targeting the opposite end of the distribution
– Remain balanced (lowest of odds because of the small range).

If a gap open higher, monitor price for acceptance back into the upper distribution.

Price acceptance below Friday’s late pullback low and low of the upper distribution at 2421.25/.50 targets the middle and lower distributions from Friday. Acceptance back into the lower distribution below 2418.00 potentially targets Friday’s low at 2412.00 and the current low of the month at 2405.25. Acceptance below 2405.25 targets the June low at 2402.25, challenging the monthly higher one timeframing.

Potential targets (carrying forward) if price finds acceptance above Friday’s high:

– July 5th’s prominent point of control at 2428.50
– July 5th high at 2423.25
– Poor high from 7/3 at 2436.50
– Poor/matching highs from 6/28, 6/29 at 2440.50
– Poor high from 6/26 at 2447.50
– All time high at 2451.50, only two ticks of TPO chart excess

Three poor highs above Friday’s poor high:

three poor highs above market

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