Retest at Known Reference Point

This chart shows a bid ask Footprint chart with a volume profile on the right side with the developing value area high (DVAH) at 1341.75.  Notice how the market rallied right up that point (a known target) and was met by sellers. It then retests the same point 10 minutes later and this time is met again with sellers. The Footprint chart provided the intrabar information that sellers were exerting pressure at this known reference point. Of course the market could have blasted right through 1341.75 on the retest, but the Footprint would have showed that as aggressive buyers (blue footprints) allowing for either the opportunity to not get short or possibly join with the longs for anothermove higher.

footprint chart

Crude Oil, early Friday morning

Looking at "Reversal" Charts