5 periods POC entered into the resistance zone,... tested 7 times.
Now the volume profile for the past week displays a P-SHAPE like .
It could have been a sign of a downturn if the last day had closed at low. On the contrary, the day closed on the POC.
=> To check if a P-Shape finally because with low volume above (and gap), it could be a trap for longs (so named) before a turnaround.
Now the volume profile for the past week displays a P-SHAPE like .
It could have been a sign of a downturn if the last day had closed at low. On the contrary, the day closed on the POC.
=> To check if a P-Shape finally because with low volume above (and gap), it could be a trap for longs (so named) before a turnaround.