medium · Volume Profile Analysis auction-market-theory
A Treasury Note futures contract produces a selling spike in the final 30 minutes, dropping from 110.15 to a close of 110.02. The spike base is at 110.15. The next session opens at 110.08.
How should a professional desk interpret this opening location?
- The auction is in a state of 'Acceptance' at the lower price levels.
- The spike was a liquidity sweep and has been fully rejected by the open.
- The market is testing the spike for acceptance, representing an unresolved auction.
- The market is gapping lower, indicating extreme bearish conviction.
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