easy · Volume Profile Analysis trading-strategies

What is the primary difference between a ledge and a tail in structural analysis?

1. A ledge is always found at the session open, while a tail is found at the close.
2. A tail is a sign of a balanced market, while a ledge shows a trend.
3. There is no functional difference; they are different names for the same concept.
4. A ledge is a high-volume boundary, while a tail is a low-volume rejection.

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