Narrow range lower volume day in last session had inventory with sellers..Auction was incomplete at low. 17695 marked as ref for them..Move above 17695 was marked for 17725/17750..NF had a drive to tag 17725 then failed the drive to get PDL swipe later in the day and closed at dVAH.
It was clean liquidation b profile and closed at dVAH..That push by sellers of last two sessions done part of job and holding below 17690 they could do another overlap in today's value area and below this b profile more liquidation possible.
Outside day with double print tail at top and 4th day of one time frame down..Looking for some whip moves between 17620-17690 if we open flat..They need to have initiative move beyond this range.
Buyers now need to get drive/gap above 17690 for a short covering rally.Not able to sustain below this profile and moving above 17690 could get mean reversion in this week's range.
Levels wise, not staying below 17620 and moving above 17665 could get 17690 if sustains 17725/17750 possible and more bullish above that for 17780/17810/17840. Not able to stay above 17690 could test 17660 if accepts then 17630/17605-17590/17560-17545 possible.
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.
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