medium · Volume Profile Analysis auction-market-theory
What structural feature on a Volume Profile defines 'Excess', and how does it differ from a 'Failed Auction'?
- Excess is simply a dense high-volume node sitting at the very top of a profile, while a Failed Auction is just an ordinary low-volume node below.
- There is no difference between them; 'Excess' is merely the classic Market Profile term while 'Failed Auction' is the equivalent newer Volume Profile term.
- Excess is a sharp tail/wick at a session extreme signifying auction completion, whereas a Failed Auction is a brief probe with no time for discovery.
- Excess can only ever form during 'Trend Days', whereas Failed Auctions are strictly restricted to 'Normal Days' and never appear on any other recognized day type.
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