NF negated 08th trend day down move in last session and was in 3rd day of one time frame up. Considered that buyers were in control.And, after FA from 13th, yday auction suggested buyers were keen to defend the auction and looking to clear weak high at ATH. 15840-15825 was kept as support to get PDH and above 15905 expected a probe to 15950 and above 15960 for 15990.
NF had a open around PDH and held around POC and gone for slow open drive and then cleared weak ATH printed earlier and got 15950+ in first session..Could not sustain above 15960 then gone for balanced session later and closed below dPOC.
Pointers from auction today :
NF printed buying tail and 4th day of one time frame up. Buyers in control still.
No secured high at prev ATH with weak high 15930 got cleared today.With this weak high earlier mentioned that risk was higher on downside moves and price has now came back to clear this weak high.
NF had a clean trend day in first session which got negated in second session and gone for balance. This negation and chop in second session left anomalies in the profile..Buyers had left poor value area yesterday too..Two back to back days of poor structure now adding risk to long side. Again, buyers if committed should hold 15910 today's extn handle and go for higher/higher value overlap in next session else today and yesterday weak structure could get a repair till 15840/15800.
Swing Long triggered at 15820 met its first obj 15880 yesterday and second obj 15950 probed today..Remaining obj is 16020. Negation now moves to 15870.
For next session, 15910-15920 support. Holding this and clearing above 15965 could test 15990/16020.Above 16030 probe is for 16060/16080-16100.
Weak below 15910 for 15885/15855/15830 if sustains below 15825 then 15795-15785 probe possible. Quite weak below 15780 for 15750/15730/15700-15680.
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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