NF had a clean liquidation profile with dPOC down skew and left weak low in last session..Expectation was sellers could get follow through down..NF got a large gap down today and all day held the gap and printed lower value and closed at dPOC.
Pointers from today's auction :
2nd week of one time frame down now after having good balance till 17650 in first half of Apr. Cleared Apr low and entered below Mar POC and FAs and gap at 17425/17265 all gone = weakness in longer time frame intensifies.
It was 3-1-3 profile i.e, tail at both ends with balance inbetween..Sustain tail = trend ; fail to sustain tail = fill back value area.
Large gap down and lower value day..We may have attempt to close part of this gap in next session if we clear PDH zone but that rise likely to be sold off as today's profile left poor value area hence repair/overlap higher odds.
NF left another weak swing low today from 28/03 visual ref so likely to get more downside in coming sessions..Swing short view we were having for 17265 and thats done now..And as mentioned in weekend report+commentary today, value below 17265 from today's session opened up obj 17050/16980 then 16850 next..So, till this is done sell on rise mode now and negation at 17520 as of now for this view.
Tomorrow session could confirm if we could get balance then downside later or straight downmove to complete above said obj then bounce later for balance..
Charts,data & Hypos :




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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