NF had liquidation via double distribution trend day in last session. Acceptance above 16095 POC zone was for rally and acceptance below this DD profile low expected more liquidation..NF had a drive at open which failed to get POC and above then started moving below PDL to get all day liquidation till 15860 PDL -100 then bounced to close at dPOC.
4th day of one time frame down and that island setup after pain at top in liquidation phase now.Demand yet to show up as per data.
It was poor value area today..Need to stay below 15870 to move towards next probe zone 15780-750 for this island setup. Failing to stay below VAL could go for overlap in today profile to repair poor value area.Any bounce happens first towards 16010-16050 zone could face exhaustion/rejection to repair today profile area.
Swing view failed to fill 15840-15820 zone today after 15950 and halted at 15860..Negation now can be moved to 16080 from 16150 to get 15780-15750 zone.This zone could give some reasonable bounce..Acceptance of 15750 could get 15650/15500/15350 with same negation 16080.
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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