NF had a bell balance normal day in last session with close at dVAH.Edge was with buyers. They got tail at low and had a slow skew session to get imbalance higher further and closed above dPOC.
It was failed trend day today..They held the trending auction for most of session then towards close failed it and still got a move higher to get 2IB move then closed above dPOC..As discussed earlier many times, this kind of failed trend day still a push for new high happens when we are close to end of ST trend.
Suggested yesterday that max 1-2 session we could revert to balance..Today this got more conviction with above said failed trend day auction as well as declined spike at close..Also volume again drying up further with almost half of 10days avg volume printed today..Just 56L against avg of 90L volume.
14th day of one time frame up now.
Buyers for next session should hold 17940-17920 band and grind higher for bullish session.Holding this band and creating value above PDH could travel towards 18070/18110..Weak below 17920 to get PDL 17870/17835 nPOC. No acceptance below 17870 or above 17990 could push for overlap session repairing poor value area left today due to failed trend day.
Swing view above 17500 was marked for 17700/17900 and further obj mentioned yday for 17980/18100. It probed 17980 now and negation now moves to 17890.
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 :
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