NF got failed auction at top in last session and closed as neutral extreme down day. It was also a inside day and imbalance move expected in next session.18210 was marked as important ref and sellers of neutral extreme if extend below it and sustain then expected neat follow through down.
NF got a open below 18210 and gone for quick drive down into last 5 days composite. Below 18180 probe was for 18080 then considered quite weak below 18070 for 17865. NF completed entire probe from 18180 to 17865 via clean trend day and closed at low.
Pointers from today's auction :
NF had a large selling tail and got clean trend day. Sellers in full control.
Till we stay below 18050 today's POC zone, its sell on rise now and any acceptance above 18050 first sign of strength.Solid confirmation above 18150.
NF cleared last swing low 17985 and entered into Sep monthly range after failing Oct trending profile. Any bounce from here could be sold off till we get minimum test of 17750.
Check hypos in plan below for tomorrow session. Stay light in first hour and better to follow these hypos later.
Charts and data - Current month :
Charts and data - Next month :
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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