NF had a neutral extreme down day in last session and got gap down open today..It could not sustain the open and got open test drive up..Failing to accept below 18320 and move above 18360 was marked for 18390-18410 and this they got in that drive..Then stopped one time frame up move and failed the trending auction. Failing to stay above 18380-400 band and moving below 18370 marked for 18345/18290 which they probed after rejection at top then closed at dPOC..
Neutral center day..
Another failed auction top.
Back to back neutral day as well as FA auction = weakness.
dPOC skew down and close there on neutral day..Advantage sellers..Staying below 18320 sellers need to get drive or gap down and sustain down with value lower to get that probe of 18240/18200 mentioned in yday report.
Levels wise, above 18340 could test 18370-18385 if sustains 18410/18440 possible.. If fails to stay below 18200 and moves above 18270 then 18300/18330-340/18370 possible.. Not able to stay above 18350 and move below 18300 could get 18270 and weak below that for 18240/18210-18190/18165 which is good support to bounce higher..If stays below 18165 then 18130/18100/18065-18040 possible.
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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