In profile a gap is considered a splendid risk-reward opportunity as it points to the presence of a longer time frame player in the markets. Incidentally, a gap is considered as a movement away from the previous day's range ( high or lows), and not the difference in a close and open.
The open drive which was initially a gap-fill turned into a successful 80 % rule trade and current prices are up over 115 points from morning lows of 5750.
Of interest to us now, is two points :
a) staying above the 5850 level marked out in Monday's post
b) the lower end of the double inside days from last week at 5880.
I have marked the double inside days as one single profile in the above chart.
You would have noted on Friday last, the market rejecting this entire zone from 5880-5936 in the move off the morning.
The rest of the chart is annotated.
Posts
4 comments:
Thanks Shai!
5936 projected upper target done.
Hi shai,
Thank you for your response in the previous post.
I must say that it will be years before I catch up to your level even with market profile.
Your reply however tells me that it is not indicators but 'chart read' which makes one a good trader.I must say that I used to trade by looking at 5 indicators on an average.
One system. One method. KISS.
Thank you.
OrderFlow intra day posted.
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