Daily market summary of NF and charts, data of NF & BNF -07Sep'21

NF had back to back nice balanced profiles and odds were there for imbalance session next.NF instead of going for one way imbalance gone for two way imbalance via neutral auction and outside day. Scaling above 17400 expected to get 17425/17450 which got whipped at open..Below 17360 probe was for 17335/17300 which happened via open test drive down in IB period.Later bounced to get neutral day and outside day clearing IBH an PDH then closed at dPOC.

Pointers from today's auction :

3days of one time frame up stopped.

Neutral center day i.e, both side IB extreme got cleared and failed to sustain.

It was outside day.

All the above information suggests we could look for balance to emerge here..Negates if we start accepting above 17450.

Probable island profile from yesterday got negated today.

NF left FA at low. Immediate support zone now.

Today's neutral and outside day auction left anomalies and poor value area in profile.Possible to fill this profile in next session.

Swing short triggered below 17330 got stopped at 17430. Have to wait now for a session or two to check the follow through after today's outside auction to decide next swing trade.

Looking for balance between 17400-17300 roughly in next session. Above 17400 could get 17430-17445 and bullish above 17455 for 17480/17510/17540. If fails to sustain below 17325 and back above 17355 could get 17380-17400.

Failing to sustain above 17400 could drop to 17360 and below 17360 could get 17335/17310-17300 and weak below 17290 for 17260/17200.

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 :

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