NF had a neutral extreme down day with no clean swing high at top in last session.. Acceptance below day low was expected to get liquidation and failing to sustain below PDL and back in value expected to get new high. NF had open rejection at PDL and gone for new high via open rejection reverse move in IB period and then all day made overlap auction in previoud day value which finally closed at day high.
5th day of one time frame up.Buyers establishing control still.
Left a weak low at PDL and got buying tail today to print outside side day..This tail zone at 16510 now swing support on daily time frame.
Outside day and 2days of nice bell.Buyers next should defend 16550-570 zone VAH of this 2days composte in next session to get further move higher..Once sustained higher should never come back to this 2days value.If comes down then could probe 2days value.
Swing support now moves to 16515 from 16330. 2nd day of value above 16500.Likely to move towards 16690/16790/16850 next holding 16515. Once moves to 16690 swing support moves to 16570. Weak below 16515 for 16450/16380/16330/16250.
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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