NF had a neutral day in last session and closed with poor low. Exhaustion was observation and probe expected downside further.NF on contrast opened higher right into selling tail and cleared FA at top with drive. Sustaining above 17740 marked for 17790-17810 and they got that in IB and later cleared IBL but could not sustain and closed at dVAH.
7th day of one time frame up. NF still stretching with anomalies..Left poor value area today.
Range is again narrower and volume below par.
MO has reached 86 i.e, extreme side auction happening for longs.
Structure asking for mean reversion but buyers are holding this up still.Volume and range in this price zone not good enough for rally further..If buyers do not get volume, this zone capable to stop one time frame up move with mean reversion.They need solid initiative move with volume for any fresh leg here for more upside.
Buyers able to negate FA at top and closed at dVAH with dPOC skew..Advantage to them.Need a drive or gap. Open is overlap in value area means they need to defend 17730-17740 in first session to move higher above 17810 to get 17840/17870 and above..Failing to sustain above 17810 and moving below 17770 could get 17735-17725 and weak below that for 17690/17650/17620-17600.
Swing short view negated today at 17765.Move above 17800 if fails to hold and clearing 17725 could trigger swing short again to get 17650/17600/17540-17520 with negation at 17865.
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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