NF negated FA of 15755 and gone for double distribution auction with dPOC skew with buyers into close and they had advantage in previous session. 15770-15760 considered support for this dPOc skew if gives up then liquidation move down was expected. NF opened with open high around POC and could not sustain and slowly started moving down.
Below 15760 probe was for 15710-15690 and NF made a low 15700 below PDL..It could not sustain below PDL then gone for all day balance within IB range and swiped IBH marginally later then closed at dPOC.
Pointers from auction today :
NF got another buying tail below PDL in 15710 zone and gone for value overlap. This 15710 now good swing support.
Two days of nice balanced overlap auction after last week imbalance..Likely to resolve into imbalance in a session or two and bias is upside as long as 15710 holds.
Another close with dPOC skew into higher and edge with buyers at close..They need to defend 15740-15760 early tomorrow to move higher further.
Swing wise negation of 15680 still holding and as said above now can move negation to 15710 to look for pending obj higher 15850/15950. Below 15710 probe is for 15635-15590/15520 with negation at 15770 for this swing view.
For next session, 15740-15760 support to get new high 15810 if sustains then 15835/15860-15870 probe possible.. Above 15875 could move to 15900-15920/15950.
Weak below 15740 for 15710-15690 and quite weak below 15680 for 15650/15620/15590.
Charts and data :
Detailed plan with references to carry forward, trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members via private blog.
Notes :
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