NF left poor low in last session after 6 days of one time frame down.Staying below 17600 considered weak and below 17510 probe was marked for 17470-17450/17400 and NF gone for this probe today via liquidation profile then bounced and closed above dVAH.
7th day of one time frame down.
Selling tail and long liquidation b profile..Swing low not done yet with such b profile now..
Sellers need to accept below 17440 early in session to look for drive below this b profile else overlap session possible..And, buyers need to defend 17440-17460 and look for creating value above 17490 and once done should not accept back in value area..If this happens then possible for balance now roughly for a day or two before resuming next leg down.
Same view as suggesing in last two days report that reversal any only above 17850 for swing now. Either more downside holding below 17700 or one whip higher first then resume downside again.Could adjust the levels based on auction of next 2 days.
Levels wise for next session, weak below 17430 for 17400/17350-17325/17275 and more. Not able to sustain above 17540 and back below 17510 could test 17460-17440 if sustains then as said above remaining probe.If holds 17440 and moves above 17490 could get 17520 if sustains bullish for 17560-17580/17620/17650..Failure to sustain above 17630-17650 could drop to 17580 if accepts then 17550/17510/17480-17460 possible.
Swing short from 17920 from last series met next obj 17450 today and remaining obj are 17350/17150 now. Negation now same 17700.
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.
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