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I use a continous contract. But i can set the profile source (f.e. last month profile) at the current contract (only half of last month would be marked) or at all contracts (hole last month would be marked).
I agree the continuous contract is the best for establishing support and resistance levels that predate the current months contract. Many are using that chart because it makes life much easier. I will assume that easier will really apply for the institutional players as well.