NF left a 3-1-3 profile in last session with double print selling tail closing below dPOC with sellers in control.Observation was that close was not in favour of buyers 15845-15860 tail zone considered as resistance if accepted expected a trend higher. NF opened gap up in this res zone today and started accepting in tail zone of prev day. Above 15860 probe was for 15910 and NF all day gone for slow skew day towards this then remained as balanced profile with dVAH close.
Pointers from the day :
Buyers established control all day with buying tail + higher value in prev selling tail though volume was lower and auction was with slow skew.
It was 3rd day of one time frame up.
dPOC skew at dVAH into close and NF closed around it.
All above information favouring buyers to get further follow through higher in coming sesion with 15860 as support.
Swing long mentioned above 15860 with 15750 negation which got triggered and probe zones for the same 15950/16020/16100 now. Negation now can be moved to 15800. Once 15950 probed, could move negation to 15860. Swing short now below 15800 with 15920 negation for 15720/15650/15540.
For next session, 15860-15875 good support to look for probe higher towards 15920 then 15950/15990-16020.
Failing to sustain/scale above 15950-15970 band and breaking 15910 could get 15880/15850 and weak below 15850 for 15825/15795/15775-15760 and quite weak below 15760 for 15730/15690/15660.
Charts and data :
Detailed plan with references to carry forward, trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members via private blog.
Notes :
a) Check glossary page in website if any of the terms used in the post are not clear.
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