NF had a poor value area with value in spike zone and dPOC skew close higher in last session.Buyers expected to hold 18860 and move higher next session to clear ledge top then stay higher.Considered weak below 18850.NF had a slow open auction holding 18860 filling poor value area then cleared ledge but could not sustain above PDH..Gone for move down to 18850 which got PDL swipe then remained as volatile two way session to close at dPOC.
Failed auction at top.
Neutral day and outside day.
Second day buyers had value in spike and still could not test excess at top.Yday they had ledge top and today FA at top.
18865-18875 res now..Buyers should sustain this to make another attempt to move higher..Failing to do so and moving below today POC zone could call for liquidation to travel into 20th profile zones.
Levels wise for next session, move above 18875 possible to get 18905-18915/18940/18975/19020-19040.Failing to stay below 18790 and move above 18835 is for test of 18875 if accepts then remaining obj as said above.Move below 18820 could probe 18790/18765-18750 bounce..If accepts 18720/18690/18665/18625.
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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