NF had a clean trend day closing at high in last session..It had a dPOC skew and it was buyers job to avoid accepting inside trend day range and should get follow through higher..It opened way down below VWAP of trend day and then got open rej reverse move during Ib period..It failed to sustain above IBH then had one time frame down move to clear IBL then closed above dPOC..
NF negated clean trend day auction with today's acceptance into most of trend day range..
We are in outside week also now..
Both info suggesting to look for few sessions of range fill of 30/08 day as long as holding above 17400 zone.. Trend day immediate negation today calls for such balance before making next move.
NF left FA at top today and left buying tail at low with clean two way balance..Text book 3-1-3 profile. Sustain value area/tail zone = trend ; failing to do so = overlap filling value area..
It was also neutral center day..Buyers need to hold tail zone at low and then sustain above 17600 to get 17650/17680-17710 then look higher..Failing to hold tail at low could go for clearing 30/08 low towards 17440/ 17370 then more weakness towards 17320/17250.
Volume of last few sessions are hitting way above average mark and we are close to solid run about 2-3 ATR move in single leg.Bias as of now to get 17050/16800 staying below 17850-17900 band.
Charts and data :
Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.
Notes :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
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