We teach and talk about using the TPO (time price opportunity) Market Profile Graphic in tandem with the Volume Profile. Here’s the reason.

1. We use Volume Profile to determine areas in the auction across time frames to set expectations for behavior.  See module 12. 
2. We Market Profile to see categorize the day in front of us and determine how probable it is for the auction to reach the decision levels set forth in our daily plan. 

There are 5 defined open types and 7 defined day types.  While there are rarely textbook examples of these structures, there are enough characteristics for us to lean on and help stack probabilities of expectation.  All of the playbook set-ups we define for intraday trading reference these structures.  Be able to identify them and know which one you are in.