NF volume profile levels....

NF 3rd day of OTF up on daily charts. Last 2 days we had a composite
P shape profile with VPOC skew. Bulls needed a gap or drive with this
VPOC to stay higher. Today they got that gap up open to stay higher
above PDH. It was an early short covering profile in making. When such
short covering ( P profile ) breaks VWAP its time for liquidation. This
happened in NF today around 12:15 when we broke the VWAP, the
destination is to close the gap and then test the composite P references.
Once gap got closed tested composite P profile VPOC at 19430 and closed
as a neutral extreme down day. Today was all day balance and liquidation
started in J period, so VPOC stayed higher making a 45 degree profile


With this 45 degree Profile, sellers need to build value in the late extension
to continue on the downside. Buyers on the other hand need in the next
session quickly reject this late extension and test todays VPOC at the top