NF left large tail + cleared spike + stopped one time frame up in last session and all info were suggesting NF planning for balance. Buyers failing to sustain 18870 expected to allow poor value area repair then below 18770 expected liquidation for 18720/18670. NF could not sustain the open at VAH zone and gone for ORR down to get another liquidation move till 18720.From there bounced sharp which could not sustain higher above IBH and done repairing poor value area all day then closed above dPOC..
Today's auction of back to back imbalance in first session then leading to good balanced profile suggesing two way auction to continue for few sessions. Both buyers and sellers are active now.
Almost a 3-1-3 profile with clean balance today but with some anomalies left in profile..Sustain value area = trend ; else overlap to repair poor value area left today.
Weekly pivot 18770 gone today but all day move below PDL got response from buyers.2days POC at 18815 another HVN above 18770 last week HVN and they closed there = advantage buyers to get skew higher tomorrow.
18770-18750 support for buyers to defend and scale above 18820 early in session to get 18870/18910/18940..Failing to sustain above 18870 again could drop to 18810 and rotating below 18810 is for 18750 if sustains then more weakness to get 18710/18670/18620/18580.
Swing view as suggested balance roughly between 18600-19000.
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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