NF after back to back balanced sessions observation was, its doing time correction and more upside expected holding 18165. NF had a open around VAL zone and gone for move below last two days low to negate 18165 and then remained as overlap session all day on Friday, then had a spike in closing hr which could not sustain and closed at dVAH.
Pointer from Friday's auction :
NF stopped 5days of one time frame up.
It was 3-1-3 profile. Tail at both ends with nice balance inside and 3days also now having clean balance. Sustain value area = trend ; failing to sustain value area = probe back entire value area.
18165 swing view negation got probed on last session. Now, buyers need to sustain above 18305 for fresh leg, failing to do so more balance or test of buyers from 18120 gap zone.
For next session, acceptance above 18305 could get 18335/18365. Further bullish above 18385 for 18420-18445/18495/18535. If fails to stay below 18180 and moves above 18240 then probe is for 18275/18305.
If fails to stay above 18340 and accepts below 18300 could probe 18260 and weak below 18260 for 18235-18225/ 18190 and quite weak below 18180 for 18155-18145/18110-18095/18065-18045/18015/17985.
Charts :
Daily
Weekly
Monthly :
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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