medium · Order Flow Analysis market-mechanics-execution

A trader identifies 'unfinished business' at the high of an ES bar.

What is the mechanical definition of this occurrence within the auction process?

  1. The bar high shows zero bid volume beneath it but records unusually heavy ask volume.
  2. The bar's closing price lands exactly on the bar's Point of Control (POC) level.
  3. The bar high shows bid volume but zero ask volume at the next tick above.
  4. The bar high shows a perfectly equal amount of resting bid and ask volume.

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