NF had a 7th day of one time frame down via b profile and observation was that swing low not done yet.17440-17460 zone was kept as ref for buyers to move above to create value higher..They defened this at open but could not sustain higher and started moving below back in value area. Not able to sustain above 17540 and back below 17510 probe was marked for 17460-17440 this they have done then below 17430 considered weak for 17400/17350-17325 which happened in second session after some balance then closed at dVAL.
8th day of one time frame down via double distrbution down day.
All day supply was in control and they need to defend 17430-17450 for next session to rotate back in lower disbn and look for range extn down again..
This lower disbn not a potential swing low..If they defend lower disbn and accept in upper disbn then possible balance for a session or two then could continue down next.
Levels wise for next session, move above 17450 coud tag 17490/17535 if sustains above 17550 then 17585/17620 possible then could rotate down..Not able to sustain above 17420 and accepts below 17380 could get 17350/17325/17290-17275 then bounce possible if not able to sustain lower.
Swing short from 17920 met next obj 17350 today. Next probe is 17150 now.Negation now could move to 17535.
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.
Comments