NF had a spike down close in last session and observation was that buyers from morning tight upper disbn got stuck and only part of liquidation was done..Failing to sustain above spike high zone, expected more liquidation to repair remaining failed trend day of 02/06 towards 16520/16460/16425. NF had open drive below spike zone 16580 and gone for this repair of 02/06 till 16460. Then failed the drive and gone for IBH clearance then closed at dPOC.
NF accepted spike zone and created value in spike zone..It was lower value day but many attempts in second session could not sustain below spike low..So to make use of this lower value day in spike, sellers should sustain below 16520 next session else could see sm squeeze early in the session clearing above PDH.
It was dPOc skew higher close and edge with buyers at close. We had a buying tail at low and they got dPOC skew higher and edge with buyers at close..Buyers for next session should defend 16540 to scale day high then could move higher towards 16660-16670 and then should sustain higher further to get 16750..Failing to do so and back below value area could go for repairing today value area.
That 16400-16700 range balance as expected now forming nice bell balance from composite of P as how it started.Expecting another session or two minimum to fill this balance then could look for a move away from this balance.
Charts & 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.
コメント