05.13.22 | Auction Market Profile and High Premium Insurance Puts

Strategy

Favor a long position on a strong breakout (initiation) to the upside … best entered on a retest of the 4040-4050 level (value area high).
Favor a short position on weakness that takes out the value area low at 3990 … with an initial target approaching the confluence of high premium insurance puts and Thursday’s value area high.