One of the market characteristics we often discuss as part of auction theory is what ‘timeframe’ is interacting with the marketplace. This can help guide us in our trading decisions, especially when deciding what price levels (market profile, volume profile, daily, weekly, etc.) to pay attention to.
You may have noticed I have been omitting a market profile chart from my recent analysis. This is because we are operating with the high timeframe who are likely being forced into action this week. Their effect when interacting with price throws the quest for value onto the back burner. Instead what matters is price action on the higher timeframe.
They are not interested in intraday levels or discovering value as we typically observe it. This action, especially in the Dow, is likely (if not already aware) to gain the attention of a very high timeframe.
In short, be aware that the likelihood of your price level being run over is elevated in this tape. Let the price action (heavy reaction, rotation size, impulse, etc.) establish your bias.
On the day, in the /NQ_F, prices need to sustain above 3738 to consider the long side.
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