Anatomy of a Volume Profile Trader: Learn tips and strategies for trading the Volume Profile. by Bruce Levy

Author:Bruce Levy [Levy, Bruce]
Language: eng
Format: azw3
Published: 2016-04-06T16:00:00+00:00

7.3 POC Resistance to old volume

The Market tests the Highest Volume Traded and is immediately rejected before coming down to the unfair lows. At the unfair lows buyers step in to bring price up, they leave an HVN support bar behind as price continues back into the prior rejected POC. This HVN leaves us a clue that there has been a lot of trading interest in this area. This area will act as a futures pain point for long traders. It is also clear that price is not willing to trade in the POC area as price is swiftly rejected. Since the HVN consists of relatively new orders we can expect a breakdown of this level as traders who were long exit degrading positions thereby creating new sell orders. Any retests of this HVN from a downside retest will be met with much resistance as losing long positions offset orders near break even.

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