Understanding Market Profile Excess
In this blog you'll learn everything about excess, buying tails and selling tails on the market profile and how they form.
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Why
For the market to achieve its primary goal of trade facilitation, it auctions lower to find buyers and higher to attract sellers.
Ideally, the market finds a value range where both buyers and sellers perceive price to be fair so that two-sided trade can take place.
However, the market is effective, not efficient.
Consequently, in its attempt to generate trade with all participants, the market occasionally creates excess by auctioning too far in a given direction.
What is Excess in a market profile?
Excess usually highlights the end of one auction and the beginning of another.
No excess is frequently a sign that the auction in that direction has not been completed or has not reached exhaustion.
Such zones have high probability of revisit in the short run or if market revisit that area, we are looking for at least a couple ticks higher.
Buying Tails / Selling Tails
Buying tails: They occur on the bottom of the profile. They are called tails because they will have at least two single printsBuying tails indicate the end of a downwards auction.Failure to have a buying tail indicates an uncompleted downward Auction
Selling tails:They are simply just the opposite of buying tails.
