easy · Volume Profile Analysis trading-strategies

What does a 'P' shape tell the analyst about the prior session's price action if the current session opened with a gap up?

1. The market is finding heavy resistance and is likely to reverse.
2. The market rejected lower prices and shorts were likely forced to cover.
3. Institutional sellers are aggressively pushing the market back down.
4. There was no interest in the higher prices, leading to a thin profile.

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