NF Weekly Profile (02nd to 08th Sep 2022)
17824 [ 17837 / 17491 ]
- Friday: NF started the week with a Normal Day as it stayed below the weekly POC of 17670 & filled up the lower part of previous week’s profile and left an important C side extension at 17491 which turned out to be a multi-day FA as it made an attempt to probe below the weekly VAL of 17502 hinting that the downside for the week was limited
- Monday: The auction formed a ‘p’ shape short covering profile with completely higher Value as it got above 17670 but made similar highs in the 17720-17730 zone stalling just below last Thursday’s FA of 17735 and closed around the dPOC of 17702
- Tuesday: saw NF open higher scaling above the FA of 17735 along with the weekly VAH of 17754 as it made a high of 17788 but was swiftly rejected confirming an ORR (Open Rejection Reverse) resulting in a ‘b’ shape long liquidation profile for the day with overlapping Value & a close around the dPOC of 17678
- Wednesday:The imbalance to the downside continued in form of a big gap down of 140 points but the auction left an A period buying tail and formed a Double Distribution Trend Day Up after leaving an extension handle at 17610 & making a high of 17680
- Thursday: The change of PLR (Path of Least Resistance) to the upside continued with a higher open of 99 points as NF made new highs for the week at 17813 in the A period but settled down into an OAOR (Open Auction Out of Range) forming a balance between 17542 to 17813 and the swipe lower to 17695 in the H period was swiftly rejected leading to a Neutral Extreme Day Up to 17837 and the confirmation of a FA at lows
The weekly profile is a well balanced one in a narrow range of 345 points forming an Inside Bar both in terms of Range & Value with a close around the highs so has a good chance of starting a fresh imbalance to the upside moving away from the 3-week overlapping POC of 17670. This week’s Value is at 17587-17671-17707 with the VWAP at 17664 which will be the important references on the downside.
BNF Weekly Profile (02nd to 08th Sep 2022)
40312 [ 40375 / 39311 ]
- Friday: BNF also opened the week with a Normal Day but unlike NF filled up the upper part of previous week’s profile as it made a low of 39311 & formed Value above the weekly POC of 39389 but stalled just below the weekly VAH of 39725 as it made a high of 39715
- Monday: The auction made an initiative move away from Friday’s balance with an A period buying tail from 39725 to 39456 and made new highs for the series at 39999 stalling at the BRN (Big Round Number) leaving a ‘p’ shape profile for the day with the close at the prominent POC of 39917
- Tuesday:started with a move above previous day high as BNF went on to hit 40175 but was rejected back into previous day’s range & value confirming an ORR (Open Rejection Reverse) start as it went on to make a low of 39654 forming a ‘b’ shape long liquidation profile for the day with overlapping Value giving a nice 2-day composite
- Wednesday: The auction continued the downside imbalance with a gap down open to 39340 but found demand coming back as it left an initiative buying tail till 39441 and formed a narrow 374 points range balance with highs similar to that of Friday which was 39713
- Thursday: BNF not only opened with a big gap up of 312 points but swiped through the 2-day composite (Mon-Tue) with an initiative buying tail from 40003 to 39820 & formed a slow Trend Day Up to hit new highs of this series at 40375
The weekly profile resembles a Double Distribution one to the upside with overlapping to higher Value at 39563-39905-40175 with the initial HVN at 39510 & the VWAP at 39807 and has closed around the highs so can expect the imbalance to continue in the new settlement week.