The hAnDbOOk Of TeChnICAl AnAlysIstrends, Degrees of bullishness and bearishness, and
the tpO Count
In a Market Profile, an uptrend is defined as initiative activity above the previous
day’s value area while a downtrend is initiative activity below the previous day’s
value area. The greater the distance in price from the previous day’s value area,
the greater will be the potential persistence and strength of the unfolding trend.
See Figure 17.17.
figure 17.13 Responsive Activity above the Previous Day’s Value Area.
figure 17.14 Initiative Activity above the Previous Day’s Value Area.