NF had low conviction trend day in last session with upside probe yet to complete. NF gone for gap up + drive again and turned into another trend day closing at higher quad. 14675-14700 was considered strong res which gone in morning drive and probe was for 14800 and NF got till 14890.
Auction pointers from the day :
NF printed 4th day of one time frame up.
After a trend day, another bookish clean double distrbution day after gap + tail. Today’s DD profile by structure suggests clean control from buyers all session. Equally distributed profile with clean extn singles.
dPOC pulled to upper disbn and NF closed around dPOC = skew with buyers.
Move above 14790 extn handle today brought in volume and seems fresh inventory from here..This is ref going forward for any weakness.
Swing view of balance negated now today with 14650 acceptance and NF turns into buy on dip with negation at 14600 on swing. Scale of 14800 happened today opened up swing obj for 15050/15150/15350.
Price wise for next session, above 14880 could get 14930/14960-14980 if sustains then 15030-15045/15075 probe possible.
Failing to sustain below 14760 and back above 14820 could get 14880 then all other obj as mentioned above.
Move below 14820 could test 14790/14760/14720 quite weak below 14710 for 14680/14640/14615.
Charts and data :
Detailed plan with references to carry forward, trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members via private blog.
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.
Comments