NF had a double disbn 3IB trend day in last session. Buyers had a dPOC skew at close hence all session they expected to stay higher above dPOC else two way auction to repair second disbn expected.. Move above 18815 marked for 18840-18860 then not able to stay above 18850 expected drop to 18805 if accepts then downside probe expected till 18745 then below 18740 expected 18715/18680. NF at open stayed above POC and filled till 18840+ then failed with a move below POC of yday which first filled second disbn in a two way auction for sm time with 18745 probe then later gone for move till 18695 and closed below dVAL.
NF negated entire last up trend day session range with outside day..Weakness..Balance and move down possible from here.
Neutral extreme down day with spike close. Spike rules for next session. 18740-18695 spike zone..Stay in/below spike zone = weakness ; sustain above spike zone = strength.
Failed auction top at 18840 today which becomes swing res now. Swing wise 18730-18745 marked as support to get 18850-18860 and this got negated today. Today's FA top as long as holds bias now is to have balance to downskew towards 18610/18520-18480 then decide there.
For next session levels wise, failing to stay below 18680 and move above 18725 could get 18750-18765 if sustains then 18790-18810/18835-18845 probe..Further bullish above 18845 for 18875-18890. Not able to stay above 18765 could drop to 18720 if sustains 18690-18670 probe and weak below that for 18635/18610-18600 if sustains 18560-18540/18480 possible.
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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