FA low + NE up with spike close in last session..If opens inside range buyers expected to defend 18840-18855 and stay higher in spike to pull value higher as price had moved 45 degree away from POC..NF had a open around LTP then failed to stay higher above PDH and gone for testing spike low zone..Whipped well below 18840 then stayed all session in spike zone to close at dPOC..
Poor value area with value in spike zone and dPOC skew close.
Buyers defended all session the move down but could not clear IBH and left ledge top to test excess top..They built value in spike and got dPOC skew and close there. With this value, they should act early in session to clear this ledge.
Double print buying tail low and ledge at top.If opens inside range then buyers have to defend this double print tail zone tmw and repair poor value area then stay higher above ledge top all session for directional move..If opens higher then 18860-18880 support on any pullback and then should push higher.
Weak if stays below 18850 to travel down into 20th profile as they should not allow a move from value created in spike zone all day.
Levels wise for next session, move above 18915 could probe 18940/18975-18995 if sustains 19040 possible.Failing to stay below 18805 and move above 18875 could get 18905-18915 and then remaining obj as said above..Failing to stay above 18935 and move below 18895 could get 18865/18840 and weak below that for 18810-18790/18765-18750/18720.
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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