NF had retested FA zone of 15850 and price has moved 45 degree away from POC in last session..To avoid retesing POC buyers expected to pull value higher. NF got a gap up and gone for higher value day. Above 15850 probe was for 15890/15920 and NF managed to get 15900+ swipe and gone for all day tight range auction then closed at dVAL.
Auction breakup from the day :
NF had almost a normal day nice balanced auction (except a marginal swipe above IBH).Suggests could lead to imbalance in next session.
NF negated previous FA at 15855.Another FA failed to sustain after 15755 and 15815.Suggesting short term market still wants to probe higher.
NF left probable island profile as it checked all criteria of stand alone higher value from prev session + narrower session range + lowest volume (no demand) + closing at lower quad of the day.Its only probable now and below PDL becomes confirmed island and probe is to test the previous launch zone of buyers. 15785/15730 are the zones to start with if this island gets follow through down.
Swing wise turned to buy at 15855 and negation now at 15780 as we have got higher value day. Below 15780 gets to neutral and fresh sell only below 15700 with negation at 15850.
For next session, bullish above secured high 15905 towards 15950/15990. If fails to sustain below 15840 and accepts above 15870 then could test 15905/15950.
Weak below 15860 for 15835/15800/15780 and quite weak below 15770 for 15745-15730/15705..If sustains below 15695 then could get 15650-15630/15590/15550.
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 :
a) Check glossary page in website if any of the terms used in the post are not clear.
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