NF had a 4th day of one time frame up with trend day and auction looked incomplete at close of 05th Apr. Below 17585 expected test of buying tail and considered 17520-17500 as good support for next session..NF whipped below 17585 during RBI event and bounced well above from tail zone.. Above 17645 probe was marked for 17690/17740. They gone for this move in first session with slow tempo till 17715 then later failed the first session trending move and then closed at dPOC.
5th day of one time frame up.
Auction wise exhaustion seen at top with selling tail and ended with wide POC day.Odds of balance to resume higher if they fail to get higher value and then sustain such value in next session.
Buyers for next session need to take out this selling tail to push higher failing to do so looking overlap till 17610-17600 and that goes means PDL probe possible.
Levels wise moving above 17690 could get 17730-17750 if sustains then 17790-17810/17840 possible.Failing to stay above 17730 coud drop to 17680 if sustains 17650/17620-17600 and weak below that for 17560/17535/17510/17460.
Swing wise NF next obj was at 17740 and NF moved till 17715. Swing negation now moves to 17590.
Weekly :
NF in last week had bounced after testing b profile lows..It started travelling into tail zone of weekly.Marked two scenarios and scenario b played out i.e, one time frame up on daily towards 17750. Marked high of 17715 and ended as double disbn weekly profile with POC of week skewed higher..Advantage buyers as long as they stay above 17600 and early in the week they need to survive above 17700 with value to conitnue the momentum up.
Failing to stay above 17700 looking for retest of 17600 and goes means 17520-17500/17450 test then bounce else 17380/17290 probe then bounce possible..Staying above 17700 probe could be towards 17780/17840 and tough to sustain 17840 and could rotate down from 17780-17840 band..If sustains 17840 then 17920/18020-18050 probe..Anything below 17290 could drag it down quick towards 17165/17100 then bounce higher possible.
Monthly :
Monthly delivered b profile in March..17500-17450 pivot now for Apr. Staying above this could look for stretch towards 17840 then balance between swing high and 17450 possible..17450 starts accepting means balance could be wide range between 17100-17840 kind for the month.For momentum on monthly this 17100-17840 range needs to be cleared and sustain.
Charts :
Daily
Weekly
Monthly
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.
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