Live example of Nifty Futures through the eye of market profile
In MP reference of y.day is important ..This is what happened on different set of conditions... plz go through prev post where i posted weekly MP...looking at market we must consider longer time frame first, then shorter so we get the clear picture.... when profile is flat or wide, some times balanced as it was 1 day before y.day..usually longer time frames comes in and participate ( longer remain in one time frame more time frame participates )because they see the value..next day what happened..price open below poc of y.day lonegr time frame saw the value and prices pushed upwards..but profile was unsymmetrical that mostly suggests short covering.. consider the fact that weekly profile tilted towards bulls, so risk reward in favor of longs...now today ..market open above y.day poc..weekly mp bullish, no shorts..market moving up..but see the vol which is less than y day ..and market hit weekly poc and sold off at day close..same structure but when we see through longer time frame picture gets clear ..