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Tail (excess)

Trader's Glossary · Profile and auction

Tail (excess)

Definition. A band of single prints at the extreme high or low of the session profile, formed when price was rejected quickly. In auction theory it marks the end of a move in that direction.

How it works

When price reaches a level where the other side of the market decisively steps in, the move reverses quickly. A thin “tail” remains in the time profile.

Example

The session begins with a fast drop that is sharply rejected. The low of the day has a clear tail, and the rest of the session trades higher.

What to watch out for

A tail shows the auction in that direction ended for the session. It doesn't guarantee the level won't be tested again.

This is the TPO – Market Profile in the Hetman Terminal (Chess Clock). Screenshot from the Hetman Index (IHA) – a training instrument, simulated data.
This is the TPO – Market Profile in the Hetman Terminal (Chess Clock). Screenshot from the Hetman Index (IHA) – a training instrument, simulated data. See all the Hetman Terminal tools →

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See also

Poor high and poor low, Single prints, Market Profile (TPO).

More in Hetman Capital Club

You'll find the full explanation with graphics, examples and exercises in the 📖 Order flow encyclopedia space, and its use in the live market in the 🔴 Live Room. Both are available to Club members (in Polish).

Educational content, not investment advice.