medium · Volume Profile Analysis reference-levels-migration
A bearish spike on AUD/USD has a base at 0.6650 and a close at 0.6635. The next session opens at 0.6655.
What is the most likely 'Initial Balance' development?
- A balanced session within the spike range of 0.6635-0.6650.
- A rotation higher toward the prior day's Value Area.
- An Open Drive lower as the market is gapping away from the Value Area.
- An extension lower to repair the 'Poor Low' at 0.6635.
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