The NASDAQ just gave up 100 points in under 2 hours. It went right down to the 4600 handle. I was looking for this trade yesterday morning before a bull geyser erupted in my face. These things happen all the time. We do not fight bull geyser (extra thick Russian accent). However when we pushed back down and through the Tuesday low bulls were not so fortunate. Instead they faced total and complete annihilation (extra Putin vs Turkey).
The best part about market profile is that nobody a. talks about market profile b. understands the purpose of market profile and c. uses market profile. These single print zones, or slip zones as I affectionately named them, are the air pockets that feed my coffers, regularly. They are good to me, like baseball is good to the Dominicans. See below:
Anyhow, we are neutral here, and as far as we have traded its likely we end up neutral extreme. Therefore I am in no hurry to buy. Maybe tomorrow. In the meantime remember–if you keep poking the bear, you are destined to get the claws.
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Can u spare 2 min to breakdown why there are 2 histograms (blue & rainbow)?
Is the rainbow VWAP and light blue just volume?
Thanks Raul3