medium · Volume Profile Analysis auction-market-theory
An E-mini Nasdaq (NQ) session has a spike base at 20,450 and a close at 20,420. The next session opens at 20,410 and stays below 20,420 for the first hour.
What does this indicate about the bearish spike?
- The spike is a 'Poor Low' that is likely to be repaired by a rally.
- The market is in an Open Auction state within the Value Area.
- The market has rejected the spike and is rotating back to the spike base.
- The bearish spike has been accepted, and the market is seeking lower prices.
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