Market Profile Analysis for 1st Mar 2021
Sentiment is negative, Traders can plan a Short trade if price shows OTD down or Open- High below PDL keeping SL below the above of the candle. This scenario will change if the price shows open -Low or if price started trading above previous day range. one can expect 34403 as imd target, pen placement and IB will add More clarity. One Important thing need to notice is 34700 is important level for positional buyer, they need to defend this level. if price started above this level my bias will be changed and i will look for long side with target of 35480 and 35580.
Important level need to watch 34400, 34640, 35300 & 35595 are the important level need to monitor