Sometimes the sellers are so dominant that the signals generated by order flow confirm over a larger period.
SBI is a good example :
The sell signal from 2315 was valid till 2245 today.The market hit today’s PS1 at 2222 and rebounded.
A slight whipsaw as the market tried to move above PP0 today.
The PP0 level comes from our judicious use of Market profile volumes.The trend of the day is weak below PP0 and strong above it.
The levels of PS1, PS2, PS3 are levels to book shorts and PR1, PR2, PR3 are levels to book longs.
The orderflow for BN confirms the buy above PP0 at 10661 today.
