NF had a long liquidation profile closing at dVAL in last session. If its just profit booking then expected NF to accept above 17910 to move higher further..Accepting in tail at low expected to get liquidation. NF got a slow drive early in session accepting above 17910 which pushed higher in first session to clear Aug high then towards close came down to close at dVAL.
It was short covering day. Left a buying tail at open and then formed value higher.
3rd day of one time frame up and 2nd day of staying above 7days balance..Bullish.
As discussed in closing commentary, swing is bullish with today's profile..As long as holding today tail 17910-17920 zone, 18070-18110 zone probe for next session as mentioned in commentary.
NF left double print tail at top after clearing Aug high and NF came down to close at dVAL. If sellers want to take this down, then should not accept in this tail but push below 17910 next to move to Friday tail zone 17840 then accept there for more liquidation. Buyers need gap/drive away from this P profile early in session.
Swing probe marked for 18100 with 17760 negation and this negation now can be moved to 17910. Once sustains 18100 then 18250/18350 open up.
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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