It was NE down day with dPOC skew down close in last session with FA top.Staying below 19735 expected follow through down as 19650 zone probe of poor value area was pending..NF had a slow open auction but stayed below 19735 in first session to get this probe till 19630 then bounced to close at dPOC..
3rd day of one time frame down.
Poor value area repaired till 19650 now and got clean buying tail pushing for close at dPOC from weekly support levels marked..We just touchched lower balance of July month and left a tail hence today low zone important..Holding this low and saying above VAH of today's session could get a mean reversion rally back higher towards 19780/19835 and more.
Sustaining in today buying tail and clearing low means more downside entering into lower balance of monthly.
Levels wise for next session, failing to stay below 19675 and move above 19710 could get 19735/19765/19790/19820-19830. Further bullish above 19835 for 19870-19885/19920. Not able to stay above 19750 and move below 19700 could get 19670 and weak below that for 19645/19620-19610 then bounce possible..Staying below 19610 could get 19580-19570/19545-19535.
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.
Opmerkingen