After having excess on 23/03, NF broke PDL and closed with sellers in control with lower overlap value closing below dPOC on 24/03.. Observation post 24/03 was that buyers left tail at low but close was not good for them..So, they had to defend tail in next session to move higher above 17300 and not doing so and value in tail means considered weakness. NF on 25th had higher open at VAH zone but could not scale 17300 and gone to VAL zone straight then later started accepting in buying tail zone which pushed for another PDL break clearing buying tail of 24th fully..After PDL swipe got a bounce for close and then closed at dPOC..Hypo E played from 17230 to 17175 then Hypo D played from 17165 to 17100.
Pointers from last session :
Excess of 23/03 got second day of PDL break and lower value overlap session..Supply from excess still in control and rejecting the higher moves to get new lows.
Another buying tail left at low now from wide POC of 22/03..Now this tail should go for accepting above 17300 again else retest of tail possible.Acceptance above 17300 could go VAh of current composite in making then retest of excess zone at top.Once sustains 17300 should not move down below 17250 in next session. And early in the session if tail goes means solid liquidation again.
As mentioned in last report, the balance getting more gaussian now (6days composite now) with another session filling composite range of 17050-17450.. Value of this composite is 17360-17275-17195. Sustain balance = trend with POC negation ; Fail to sustain and accept back in balance = to travel back to POC then other end and extend further in coming sessions.
Swing short below 17320 after meeting second obj 17125 still on hold for remaining obj 17025/16950.Negation prefer to keep at same 17350. Swing long can initiate above 17380 for 17500/17650/17800+ with negation at 17275.
Charts :
Daily
Weekly
Monthly :
Data & Hypos :
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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