NF left inside day profile with neutral day auction in last session and odds were there for imbalance move for next session. 17330 was kept as support and below that probe was marked for 17300/17260. NF cleared 17330 early at open and gone for open drive down till 17265.It bounced off from last week low to get outside day and then closed at dPOC.
Pointers from the day :
NF stopped one time frame up on weekly after 6 weeks.
It was outside day auction first clearing PDL then clearing PDH.
Another day FA at low (from last session) got negated..
All the above information suggesting NF still wants to fill the balance.17290 becomes good swing support now.
Buyers had edge at close with dPOC shift and not letting price drifting down back into lower distribution of the day and closed at dPOC.They have to get gap/drive for upside follow through. Failing to do so could rotate down to clear anomalies in poor value area left today.
17340-17350 support and holding above could scale 17385 to get 17415/17440-17450.Bullish further above 17455 for 17480/17510/17540.
If fails to sustain above 17400 and accepts below 17350 then could get 17320-17300/17265 and weak below 17250 for 17200/17160-17150.
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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