medium · Volume Profile Analysis profile-shapes

A session closes near the high of a 'P-shaped' Volume Profile.

What is the most likely structural interpretation of this session's auction?

  1. Fresh institutional accumulation at the session low.
  2. Responsive selling leading to a reversal back to value.
  3. A trend day with high conviction throughout the session.
  4. Early short covering followed by acceptance at higher prices.

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