NF printed classic trend day down closing at low with dpoc skew down at close in last session..Mentioned that after neutral day from Thu, fresh auction downside started and likely to get more downside for next session. NF had a gap down today open then had drive down and all day gone for lower value session then closed at dPOC..
Gap down and lower value day with 5th day of one time frame down..Buyers not getting exit.
It is 3-1-3 profile today..Tails at ends with balance inside. Attempt from buyers to save the auction but failed at close which turned long liquidation profile into 3-1-3.For next session,sustain value area = trend ; else back in value area probe and look for other side move..
As discussed in commentary, swing low not yet done and today's value below 17180 opened up swing move towards 16935/16820. Buyers for next session need to sustain above 17120-17150 band to move into today's gap zone for 17210/17250/17290..Failing to do so and accepting below 17100 is probe back to 17010 and sustaining below that could get 16935/16865/16820.
Swing wise staying below 17500 marked for next leg of downside towards 17150/17050 and its done now..Swing negation at 17350 now to look for 16935/16820/16650. Mentioned under weekly observation that move down could be faster and NF is on track of the same.
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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