NF had neutral extreme up day out of b profile and that structure was suggesting buyers next need to bring value up else all buyers of last session could be taken out. With higher volume and data, bias was rally chances was less and even goes for higher value in first session expected a retracement in second session towards 18320/18260. NF got a gap up but failed to hold.Despite having value higher in first session gone for clearing entire last session with a move below PDL then closed at dPOC.
Double distribution trend day down. Sellers had intent right from open till close.
Printed outside day.
Volume on higher side 1.5x of average volume.
This 4days composite registering higher volume + expanding daily range + Volatility increasing..All this happening below large intiative trend day of 15/12 suggesting more downside in coming sessions they are planning.
dPOC skew down and close there..Advantage sellers..They need to get gap or drive..Failing to get so mean reversion back to 18350/18380/18410/18450.Failing to sustain above 18290 could test 18240/18220 and acceptance could get 18180/18150/18100/18050.
Swing short triggered at 18500 earlier probed till 18235. Suggested any bounce to 18500 to enter short again for 18320/18250. This is done..Same negation at 18610 and staying below this, may be another session or two balance then looking further down to 18150/18050.After seeing tmw auction,could move down the negation.
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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