4 Hour Market Profile
The 4 hour market profile bracket clearly shows the Daily bracket breakdown. Just as on the daily, we will watch for rotation up into the bracket above us or rotation down into the bracket beneath us. As we approach these areas, we will drill down on our trading chart time frame of choice and look for patterns in the volume profile that indicate clear high reward and low risk trading opportunities, always keeping the next larger time frame in mind.
We had a nice breakdown right into the support area we highlighted on our charts for the week and a 100 tick bounce off of it. There are some resistance areas highlighted above to look to exit longs or initiate shorts as price action develops on our trading charts. Good stuff last week in the trade room using market profile.
We have cycled down and back up into low volume nodes and seen rejection. We have some support beneath us – one scenario – we tag that support and fill the open gap and then auction higher. That would be in line with longer term charts. Let’s see what happens.