NF had second day of one time frame down and left 3-1-3 profile in previous session.Acceptance of tail was expected to trend that side. Below 14680 probe was for 14650/14610-14590. NF gone for this move in IB to get till 14635.. Failing to sustain below 14650 expected to probe 14740 and this also happened via return imbalance in IB itself..Then gone for all day balance by probing IB extreme both side to end as neutral day with dPOC close.
Auction recap :
NF got third day of one time frame down.
NF printed neutral day with failed auction at low and got dPOC close. Value was with sellers but they could not sustain below lBL and got FA now at low. Neutral day is sign for end of auction and start of fresh auction. Accepting above PDH holding VWAP is buyers advantage and clearing this VWAP is sellers advantage in next session.
Swing wise staying below 14780 expected a move to 14610-14550 zone which was mentioned as good support zone and was looking for bounce. Now NF has made low of 14620 and got FA from low suggesting this zone is responding. And as mentioned in previous report, all those weak structure also got repaired now from last week. If this FA goes for PDH scale and sustains then swing up opens up for 14875/14950/15050 with negation at 14660.Below 14640 could for swing down move towards 14550/14450.
For next session, 14680-14700 support and holding above could look for move above PDH to get 14775/14810 if sustains then 14870/14900/14925/14945-14965 probe possible and quite bullish above 14975 for 15010/15050.
Below 14680 could get 14650/14610 -14590 if sustains 14540/ 14490/14460 probe possible.
Charts and data :
Detailed plan with references to carry forward, trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members via private blog.
Notes :
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