NF had a trend day in last session with fresh inventory having buyers in clean control. They had dPOC skew at high at close and edge was with them for follow through higher. 17525-17505 was kept as support zone to get a move towards 17570/17595 which held at open but missed marginally 17570. Then came a whip at 17505 and bounced again to get 17570/17595. Above 17605 probe was for 17635 which happened in last hour then closed above dVAH.
Info from today's auction :
NF trend day got a higher value follow through today. Its now 4 days of one time frame up on daily.
Outside week printed yesterday resolving higher. This makes 17450 swing support now. Weakness only below 17450.
NF left poor value area today with anomalies..Need to hold 17565-17580 tomorrow to move higher else could rotate down to repair poor value area left today.
Swing wise 17650/17750 opened up after yesterday's extension on daily. First objective missed marginally today. View still intact. Negation moves to 17450 now.
For next session, 17580-17565 support. Holding this and moving above 17630 could move to 17660/17690 if sustains then 17730-17750 probe possible.
Failing to sustain below 17525 and back above 17550 could get 17580/17620.
Failing to scale/sustain above 17630 and back below 17580 could get 17555 and weak below 17550 for 17525-17505 if sustains then could move to 17480-17465.
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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