NF had a failed trend day in last session. Failing to hold 17920-940 expected to get PDL probe. NF had a whip auction around 17920 and later cleared PDL. It could not sustain PDL and bounced later to clear PDH and closed higher.
Lot of auction nuances today from NF..And all of them confirms balance to emerge here as discussed last two days in report.
FA at low but with weak low around visual ref around 17860 from 12th auction. Buyers of this FA should defend spike zone for next session to get further rally.Failing to do so could get another overlap to skew down auction.
14days of one time frame up stopped with PDL swipe today. Outside day and neutral extreme up day. Zone here suggesting this neutral day is end of old auction and we could look for new auction. My bias for new auction is balance for entire next week. Range is 18100-18150 upper end and 17700-17650 lower end to form clean balance.
Spike close today..Spike rules apply for next session. 17970-18005 spike zone..Sustain in this zone/above this zone =Strength ; Below this zone = Weakness.
Swing long from 17500 zone finally met trailed negation today 17890 after 17980 probe yday. Swing short could wait for a session. Will update after tomorrow's session.
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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