NF had a lower value profile below spike in last session. Considered weakness with dPOC skew down. Sellers expected to defend 18660 else squeeze expected..They failed to get below PDL and allowed probe above 18660.Squeeze tagged 18705 then remained as short covering profile and closed at dVAH.
Short covering profile with poor high.
Inside day.
Low volume narrow range session..Likely to deliver imbalance session next.
NF had a poor low at 18605 and now today's profile got unfinished job below 18650. without repairing them any move higher may not sustain and got risk attached to them.
FA top 18842 as long as holds suggested auction is for balance to downskew for 18610/18520-18480. This auction is happening via composite b profile now..Means, mostly higher moves could be sold off.No demand yet in auction considering volume and data.
For next session, buyers have to defend 18680-18690 and scale 18720 for higher move as they got dPOC skew at close so should act early in session to get drive/gap.Once done should never come below 18690 else could repair today's value area and range.
Levels wise, above 18705 could get 18735/18760 if sustains 18790-18810 possible.. Failing to stay above 18740 and move below 18700 could get 18665-18650/18625 and quite weak below 18625 for 18595/18570/18535-18525.
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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