Thursday, May 31, 2012

TF with Market Profile Targeting

After /tf stretched. 

Market internals bottomed around 11:30 am -- European close.   End of month is an important time to look for unusual strength -- in this case... the market was able to bounce 150 ticks on /tf before giving up most of it.   The triple bottom was a clue for a possible bottom and the wedge break provided an entry with no heat.

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