NF had back to back 3-1-3 profile days and ended with no commitment in last session..Buyers if sustain 18775 expected move higher else drop to 18710 then considered weak below it for 18670/18620. NF could not sustain 18775 and gone for liquidation towards 18670-18650 then closed below dPOC.
NF on one time frame down for 4th day.
Poor high and liquidation profile today.
Structure wise, NF not doing great on the move down happening..As discussed in commentary, its making balance after balance with minor range extension on daily time frame which is kind of exhaustion..Unless they get one good imabalnce down day this could turn out as shorts in the hole scenario which could lead to revert back in all these back to back balance days range with squeeze.
Buyers need to sustain above 18720 next session to get 18770/18810/18840/18870 and above. Failing to sustain above 18720 and acceptance below 18650 or drive below 18650 could lead to next leg of liquidation towards 18600-18580/18550 and below.
Swing view same – balance 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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