NF printed outside day stopping one time frame up + reverse b profile in last session..Observation was shorts covering day and no demand.If buyers commited then expected to hold 16160 else 16100 then liquidation expected below 16100..NF opened below PDL at 16100 but did not get liquidation and gone for again extrened grind in first session then later towards close got liquidation to close at low.
NF left a poor high and closed with spike down. Minor spike and spike rules apply for next session..Staying below 16060 weak ; above 16060 strength.
Lot of inventory shuffling happening last two days and NF seems preparing for a large move..This spike of today if able to stay below 16100-16120 outside day range for next session, then got legs for 15960/15920. If accepts above 16120 then today spike is again a whip of look below last 3days range and could go for filling range again for 1-2 days. Back to that 16050-16310 view. And once this range is filled sm large move possible.
NF negated FA at 16042 and gap at 16020 still remains..
Weekly swing support 16100 given up today to test below 16050 FA zone.. Accepting below 16050 with value opens up swing for 15950-15920/15840-15820. Negation at 16150 now for this swing view.
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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