medium · Volume Profile Analysis trading-strategies

In Market Profile terminology, an 'Excess Low' (buying tail) at the bottom of a session profile is distinguished from a 'Poor Low' by which characteristic?

1. An Excess Low simply carries more total traded volume than a Poor Low does, because a far greater number of participants chose to transact at the session's lower price extreme rather than at the developing point of control
2. A Poor Low must always form precisely at a known prior structural support, whereas an Excess Low must always form at a brand-new all-time low that was never previously visited by the auction in any earlier trading session
3. An Excess Low requires at least five consecutive single-print TPO periods stacked at the very bottom of the profile, while a Poor Low always shows strictly fewer than five such single-print periods stacked at that same lower extreme
4. An Excess Low consists of one or two single-print TPO letters at the extreme, indicating a sharp responsive rejection; a Poor Low has multiple TPO letters stacked at the extreme with no tail, indicating the auction is unfinished.

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