Nasdaq100 Analysis:
In a strong uptrend
Wall St opened above Value Area, although still inside Fridays range (the very top though). Balance from Friday still shows strong buyers, overnight inventory is long.
Now I look for demand confluence around VAL and VAH, or inside VA on a 30 min chart.
Market Profile shows us that it's safe to still try to do an intraday long position.
Currently developing MP is inside Fridays single ticks and price is steadily holding up, observing absorption of sell orders on daily Delta. Will the opening range hold? If it does, buying the top seems the right decision for intraday trade.
In a strong uptrend
Wall St opened above Value Area, although still inside Fridays range (the very top though). Balance from Friday still shows strong buyers, overnight inventory is long.
Now I look for demand confluence around VAL and VAH, or inside VA on a 30 min chart.
Market Profile shows us that it's safe to still try to do an intraday long position.
Currently developing MP is inside Fridays single ticks and price is steadily holding up, observing absorption of sell orders on daily Delta. Will the opening range hold? If it does, buying the top seems the right decision for intraday trade.