NF had a NE down day close in last session with FA at top and with 45 degree move away down from wide POC. Observation was that either sustain below closing imbalance to build value lower or accept back in closing imbalance to move back to POC zone as 45 degree rule..NF opened lower but could not sustain below after Neutral extreme down day and pushed back to last session POC and then closed above dPOC.
NF held the old gap zone and left buying tail at low.
It was short covering profile today.Negated entire closing imbalance of last session and tagged back POC and closed above dPOC of P profile..Buyers next expected to get drive higher/gap up moving away from this P proflile.Failing to get gap/drive or after gap back in value area could ask for value area probe fully..
As said in closing commentary,auction incomplete at top today and this zone and auction today suggesting follow through higher further.
Swing wise 17390-17430/17490/17600/17800 opened up with acceptance of Friday POC as mentioned in commentary. Negation for the same at 17190 as of now.
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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