📘 Part 90 — Overnight High/Low (ONH & ONL)
🔥 Understanding the Overnight High and Overnight Low before the market opens can be very useful for reading the auction.
ONH — Overnight High
The highest price formed during the night session.
ONL — Overnight Low
The lowest price formed during the night session.
🔍 What to look for at the market open?
1️⃣ Acceptance above ONH
Price holds above ONH and activity develops there → the upside auction can continue.
2️⃣ Rejection of ONH
Price goes above ONH but cannot sustain → price may return to the range.
3️⃣ Acceptance below ONL
Price holds below ONL → a downside auction may develop.
4️⃣ Rejection of ONL
Price drops but quickly comes back → the downside auction can fail.
🧠 Golden Rule:
Don’t read ONH/ONL as just breakout levels—interpret them in the context of Acceptance vs Rejection.
#BinanceSquare #MarketProfile #AuctionTheory #BTC #CryptoEducation💡🚀 $BTC
🔥 Understanding the Overnight High and Overnight Low before the market opens can be very useful for reading the auction.
ONH — Overnight High
The highest price formed during the night session.
ONL — Overnight Low
The lowest price formed during the night session.
🔍 What to look for at the market open?
1️⃣ Acceptance above ONH
Price holds above ONH and activity develops there → the upside auction can continue.
2️⃣ Rejection of ONH
Price goes above ONH but cannot sustain → price may return to the range.
3️⃣ Acceptance below ONL
Price holds below ONL → a downside auction may develop.
4️⃣ Rejection of ONL
Price drops but quickly comes back → the downside auction can fail.
🧠 Golden Rule:
Don’t read ONH/ONL as just breakout levels—interpret them in the context of Acceptance vs Rejection.
#BinanceSquare #MarketProfile #AuctionTheory #BTC #CryptoEducation💡🚀 $BTC
