NF stopped one time frame down in last session suggesting supply was easing off.It ended as 3-1-3 profile and acceptance of value area was for momentum. NF opened with gap up above 20th FA then gone for slow drive and ended up as trend day. Considered bullish above 17620 for 17675 then above 17695 for 17780. NF gone to clear all the objective and made new ATH to close higher.
Pointers from today's auction :
NF had a gap up + tail + trend day making new ATH and closed at high. Buyers in clean control.
It was triple distribution trend day with elongated profile and dPOC skew at close.Emotional run. Buyers if still committed then should not rotate below POC and should go for acceptance higher further early in session.Failing to do so and acceptance below POC could go for repairing today's profile.
For next session,17800-17810 support.Holding this and scaling 17840 could get 17865/17890-17910 if sustains then 17950 probe possible. Above 17965 could get 17990/18020.
Failing to sustain above 17890 and breaking 17810 could test 17770 and weak below 17770 for 17740-17725/17690.
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.
Comments