hard · Volume Profile Analysis reference-levels-migration

Price approaches a Naked POC from three sessions ago in an equity index future. The session volume at that level builds quickly, and the bar that touches the Naked POC prints a long upper wick with the close near the lower third of its range on above-average total volume. The Naked POC is now tested.

What is the volume profile interpretation?

  1. The Naked POC has been fully resolved and is now confirmed as durable, reliable support, because price transacted there on heavy above-average volume and held that prior reference level cleanly without rejection
  2. The Naked POC still remains stubbornly naked and unresolved, because a single high-volume rejection bar that prints a long upper wick does not count as a genuinely valid test of the level until price closes back firmly above it
  3. The long upper wick simply means the level is still unresolved for the moment, so the auction will require at least one additional second confirming test of the Naked POC before the broader rotation can be deemed structurally complete
  4. The Naked POC has been resolved and the above-average volume with a rejected close near the low of the bar signals responsive selling, shifting the structural bias toward the bearish side now that the open auction is closed

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