NF left large buying tail and ended up as DD up trend day on Friday..Buyers next for follow through higher expected to save upper disbn and move higher..NF gone for this move right at open with another drive above PDH and then ended below dVAL..Acceptance above 17720 expected push towards 17800/17850 which is done in last session.
2nd day of one time frame up with decent buying tail.Buyers making ST run quick here..Leaving back to back anomaly profiles now to get it repaired later..Met weekly firt res zone 17850 and saw some retracement now..
With a close below dVAL, buyers next need to accept above 17820 via drive or better get gap up around PDH to clear this res zone 17850 for a move towards next weekly obj zones 17920/18000+. Failing to do so could fall back towards 17720/17650/17600 to repair last two session profiles..
Support for buyers now moves to 17720 on swing to seek higher levels further.Once starts accepting above 17865 support moves to 17800.
Levels wise for next session, not able to stay below 17745 and move above 17790 could get 17820 and bullish above that for 17850/17890-17910 and further sustains 17920 means could get 17955/17990/18020. Failing to sustain above 17890 could drop to 17830 and weak below that for 17790/17760-17750 and further weak below 17740 for 17710/17660-17640/17600.
Swing long above 17820 with 17720 negation for 17890/17950/18020..Once moves towards 17890 negation can be moved to 17800.Swing short if fails to sustain above 17890 and moves below 17800 with 17920 negation for 17720/17650/17600/17535/17475-17450 zone.
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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