NF had short covering profile with good intent from data favouring buyers at close in last session. They are expected to accept higher above PDH 17645 to get gap close zone 17690-17710 and further higher.Buyers did all good in first session to probe higher and in last 90mins gave up everything for solid liquidation to close at low as price moved back to 3days composite and done full value area probe.
Failed auction at top at that swing res zone marked at 17740.
Neutral extreme down day with large spike down..17620-17500 spike zone.. Auction in complete at low and staying below spike high zone 17600-17620 could get new low in next session..That visual ref of mechanical support at 17520 taken out today so odds are there to test 17450-17420 next minimum then 17350. Once they go for new low and back in spike means could look for value building in this spike zone.
3IB down day..Solid balance going on..Likely to remain so for next few sessions. Today's spike moved price way away from wide POC..45 degree move..So, one way moves are limited and more of two way auction possible on daily time frame.
Swing wise staying above 17550 marked for 17740 which got done today and that was marked as solid res zone to rotate down to 17600/17520 and that also happened via spike at close.. Next part now staying below 17600 for 17450/17420/17350/17250. Above 17600 back to two way auction which could attempt to test 17700+ again.
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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