NF had a short covering profile in last session.Had a gap open but could not sustain gap and started accepting in range which cleared VAL zone then all day made a move higher and closed below dPOC..
3rd day of short covering.
Volume again at lowest.
Skewed upper disbn and closing below skewed dPOC..Buyers need to get drive/gap.If opens inside range then 18780 buyers should defend and move up, if opens at PDH zone/away from range then 18810 they should defend and stay higher all day..
Likely to start a fresh auction from next session..Either sustain and move higher leaving all poor structure underneath ( poor low at 18605 + back to back lower volume P profiles + weak low short covering profile with skewed top) and take care of them later or meet with exhaustion and clear all the poor structure till 18720-18705/18660.
Levels wise, if 18780 saved and moves above 18820 then 18845 and bullish above that for 18870/18910/18940. Failing stay above 18840 and moving below 18810 could get 18780 and weak below that for 18750/18720 if sustains 18690/18660 possible.
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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