NF had 4th day of one time frame down on Thu and left poor value area.. Below 15870 expected more downside and any bounce first to 16010-16050 zone means expected to face exhaustion to push down to repair poor value area..NF had a higher open in this band and met with exhaustion and had slow open rejection reverse down auction to tag POC of last session in first session.Then gone for repairing value area between POC and VAH all session.. Later got a spike to close at high marginally swiping above PDH.
One time frame down got stopped after 4days with marginal PDH swipe at close..It was spike close with some large inventory shift at closing..If this spike got buyers commitment then should go for drive / gap and then all day should not come back to spike.Failing to get such move and moving below spike low is quite weak.
Neutral extreme up day.
16035-16085 spike zone..Stay in / above spike for strength else weakness. As we had seen inventory shift around 16120 last week, this spike next have to sustain 16120 to get 16180/16250+.
NF left a buying tail at POC of last session and also repaired poor value area..This low 15930 now quite a solid swing ref on daily time frame due to spike close..This 15930 now could be marked on chart as good ref to seek solid reversal down whenever gives up,to get 15750/15650/15500.
Swing view on short side now negated with marginal swipe at 16080 at close..Now, on neutral mode.Will observe a day to decide about next move for swing.Possibily will update during live commentary in next session.
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 :
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