NF left 3-1-3 profile in last session.With composite dPOC up, buyers job was to look for move above 17840 to get 17870/17900/17940-17950. They had a slow drive at open clearing 17840 and probed till 17939 amid all tight grind auction post IB session then closed at dPOC.
It was short covering P profile closing at dPOC. Bullish as short covering happening after composite dPOC shift and moving away from composite dVAH zone..Buyers job next is to defend today's value area and look for move higher further.
Auction incomplete at top. Buyers of morning met with good reponsive sellers entire session who didnt allow good range extension post IB. These sellers if not able to rotate down below VAL/tail zone of today, could get squeeze in next session.
Levels wise, staying above 17870 could test 17920/17950 then bullish further if sustains 17950 for 17990-18010/18040-18050/18100.. Not able to sustain higher above PDH zone could test 17900/17870 and weak below that for 17870/17840-17820 if sustains 17790/17760-17750 possible.
Swing support now at 17750-17800. Staying above this band now looking for sideways to upside skew towards 18050-18100/18250.
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.
留言