Tuesday, November 21, 2017

Node Support Breakout Over Prior Distributions

Before the 9:00am opening we identified the market profile node support. The high volume open gave the buying market the supply it needed. Price could not break lower and we watched the high volume bias above the mode.

Entered the trade at 56.61 with a initial stop loss at 56.44 and a target at 57.11 Took +45 ticks on the trade as it hesitated below the 50 tick target at 57.11. Price later went well through the target level.