medium · Volume Profile Analysis auction-market-theory

A session in Crude Oil (CL) establishes an Initial Balance (IB) range of 0.40 points. Following a mid-session news release, price extends beyond the IB high by 0.60 points (a range extension of roughly 150% of the IB, taking the total session range to about 2x the IB). Critically, the move remains a single continuous range extension off the original distribution: the new highs do NOT detach into a separate value area connected by single prints, and the secondary volume cluster is only just beginning to build at the extension rather than forming its own complete distribution.

Which day type is most likely forming?

  1. Trend Day
  2. Normal Day
  3. Normal Variation Day
  4. Double-Distribution Trend Day

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