NF negated clean trend day auction of Tuesday on Thursaday and printed outside week too..These info suggested to have balance in Tue range before making next move.It left 3-1-3 profile too and failing to sustain value area was for overlap session.NF gone for such balanced auction leaving inside day and ended at dPOC.
Its 3days nice balance and likely to lead to imbalance next post this inside day.
FA from top 17735 in control of auction as of now..Buyers held 30/08 buying tail second day which is quite mechanical defense now..Despite saving that tail and travelling up in tail zone of morning session could not sustain higher and gone down to close at dPOC..Buyers next need to scale above 17620 else looking for liquidation from them below this mechanical defense low.
Holding above 17620 probe is next towards 17690/17740 then quite bullish higher above..Failing to hold above 17620 could drop to 17480/17420/17370/17320/17250.
Swing wise same weakness bias as mentioned in last report..Volume still hitting above average mark and those buyers from 30/08 4Ib trend day still in system as per data.Either they get exit or give up big below 17490.Staying below 17735 bias is for 17370/17250/17150/17050-17020/16800 as those buyers could go for liquidation.. Once moves below 17370 negation could be moved to 17650.
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.
Charts :
Daily
Weekly
Monthly
Data :
Notes :
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