hard · Volume Profile Analysis
A price probe at $1.3615 is followed by a sharp retreat, leaving a single-bar wick that traded only 200 contracts compared to the 4,500 contract average.
How should this 'Failed Auction' influence a long trader's profit target?
- The target should be moved to the nearest HVN below $1.3615.
- The target should be moved slightly above $1.3615 to account for the magnet effect.
- The target should be canceled because the level was strongly rejected.
- The target should be placed at $1.3610 to avoid the high-volume resistance.
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