NF delivered imbalance session via outside day in last session. With 2days composite of 3-1-3 structure + dPOC skew higher close, buyers had advantage and required drive or gap to stay away from 3-1-3 profile. They got gap up today and move down at open got rejected, then remained as narrow range higher value day closing at dVAH.
Another gap up session and gap remained unfilled till close.Back to back gaps now.
It was normal day i.e, no range extension from IB and remained in tight range..Volume was also lower..Next session could get imbalance move out of this or worst case one more day of overlap then could deliver imbalance session next.
NF printed 13th day of one time frame up..One of the highest stretch this one time frame up..8-10 days mostly it turns to balance and this is extreme reading now..Volume also drying up..Some signs today from data wise that we are closer to end of one time frame up..In a session or two could revert to balance.
Closed at dVAH..Edge with buyers..They need to defend 17810-790 next session and clear freak high of today and once done should not get back inside value area. If sustains below 17790 then gap close attempt towards 17750-17730 and further stays means liquidation odds.
Swing view after meeting first obj 17700 yet to get next obj 17900.. Negation now moves to 17730 from 17640.Once moves closer to 17900 negation can be moved to 17810 to look further higher for 17980/18100.
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 :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
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