NF had a FA low and closed as neutral center in last session and buyers expected to get drive/gap as they closed with dPOC skew..They got the gap today then did nothing and spent all session in open range to close at dPOC.
NF printed a lowest range session since Jun'21 and volume again lowest in years.. We have a good res zone higher at 18760-18780 band and such narrow range lower volume no demand session may not help buyers to clear that zone..
It was good follow through open for the close of last session yet buyers failed to utilise it and left a poor high..Failing to clear and sustain this poor high could push auction back in 6days composite in making for a fill.
For next session, move above 18725 could get 18750-18765, if sustains 18775 then possible to get 18810/18840. Failing to scale above 18765 could drop to 18720/18690 and staying below that weak for 18665/18630 if sustains then 18600-18590 probe could be done and that is zone for bounce.
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 :
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