NF had a 5th day of one time frame up in last session..Moving above 17690 expected 17730-17750 and failing to stay above 17730 expected drop to 17680/17650..It had open auction with whips at open session then met 17750 and left secured high there to move back towards 17650 then closed below dPOC.
Observation post last session was exhaustion seen at top..NF added more conviction for the same with today's auction with lowest volume in 2months and narrow range at extreme.Likely to push down for mean reversion as long as no acceptance above this profile now.
06th day of one time frame up but failed auction at top with neutral day auction and poor low.Likely to test 17620-17600 and below in next session as follow through from this close to decide next.
Levels wise moving above 17710 in next session could probe 17740 if sustains then 17790-17810/17840 possible.Failing to stay below 17620 and move above 17665 could attempt for 17690-17710 then could rotate down..If accepts then as said above upside probe..Failing to stay above 17710 probe is for 17650 and weak below that for 17620/17590/17560/17520.
Swing wise NF completed the final obj marked at 17740 today on swing long view..With lower volume narrow range no demand neutral day, given signs for mean reversion move for 17600-17580/17520/17450. Negation for this view at 17765 now.
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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