OrderFlow charts of 03/05

Late in the session yesterday we saw the NF spiking down on increasing volume.

 

The volumes triggered our Order Flow signals on the sell side at 5263 and 10294. This morning we were waiting for a confirmation of the selling based on the spike rules we follow. You can find the definition here : http://www.vtrender.com/content/spike

 

We were happy that the market got accepted below the spike low and the HVN of 5334 and rotated lower to the next HVN of 5184 today.

 

Nfof 1 Orderflow Charts Of 03/05

 

Again following profile is very simple. We take a blue print of where the market has gone before and understand that with what the market is doing now.

 

The market is evaluated on volumes which give us acceptance or rejection of prices in the past data.

 

The understanding of what the market is doing now is done through Vwap and DPOC which tells us what the market is doing in real time.

 

Bnof Orderflow Charts Of 03/05

 

Today after testing lower levels, the NF came back to the HVN at 5234 and was promptly rejected.

 

The BN on the other hand was rejected at the day's DPOC.

 

Together they tell us that the sellers were in control all day and searching for short opportunities was the right thing to do.

 

We are currently at the bottom of the trading range ( again) and the bounces off the lows are getting smaller and now not even making it to Bracket highs closer to 5380.

 

The composite from 24/04 is balanced now with the CHVN at 5212.

 

That along with 5235 will be our reference point for tomorrow' auction