NF printed 3-1-3 profile in last session with advantage sellers..They expected next to stay below 18000 to get 17930 then acceptance there was marked for 17875/17820. NF whipped above 18000 in open auction and dropped to 17930 then got extn down to get 17820 and closed at dVAH.
Long liquidation profile and cleared last week low and Dec low.3rd day of one time frame down now.
Buyers able to close at dVAH on lower value b profile.They need gap/drive and sustain above VAH all session to rally higher next. Failing to do so looking for retest of 17850/17820 then liquidation further down.
Levels wise accept above 17970 for 18020-18040/18070/18105-18120/18150/18180-18200.
Failure to stay above 17970 could drop to 17920/17875/17850/17820 goes means 17750/17710-17690.
Mentioned about wall of worries for buyers and structure suggests imbalance down move towards new swing low 17830 and then further move in coming sessions. They tagged below 17830 and got minor buying tail at low now. This becomes stacked low now on weekly and monthly structure..This should be either low for next few weeks if buyers get a move above 17970 quick and sustains to clear all the levels mentioned yday as concern for them 18050/18120/18200/18350/18500. This could be kind of poor low/exhaustion low and move to other end kind of move. Not able to sustain above 17970 could retest 17850-17830 if goes means we could move to 17700-17650/17400/17200.
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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