NF (August) Weekly Profile (12th to 18th Aug 2022)
17980 [ 18004 / 17621 ]
- Friday: NF opened the week with a test of previous week’s zone of singles from 17664 to 17580 as it made a low of 17621 and left an initiative buying tail and made new highs for the series at 17753 but ended up forming a ‘p’ shape profile for the day with a close near the prominent POC of 17707
- Monday: Holiday
- Tuesday: The auction signalled a move away from 17707 with a gap up open after which it settled down into an OAOR forming a very narrow range Gaussian Profile of just 80 points forming another prominent POC at 17832 and hitting new highs of 17860 into the close
- Wednesday: The imbalance close of previous session continued with another higher along an A period buying tail which led to a slow OTF (One Time Frame) probe up for most part of the day as NF almost completed previous week’s range objective of 17993
- Thursday: The only OAIR (Open Auction In Range) start of the week also saw the first attempt by the sellers to extend the IB (Initial Balance) lower as it made a look down below Wednesday’s low of 17868 but could only manage 17858 and this failure of sellers led to a FA being confirmed as the auction closed the week with a Neutral Extreme Day Up hitting new highs of the series at 18004
The weekly profile is a Trend One up with completely higher Value at 17813-17951-17993 and a HVN at 17892 with the VWAP at 17848 which will be the important references on the downside as the series enters it final week of the month.
BNF (August) Weekly Profile (12th to 18th Aug 2022)
39713 [ 39784 / 38790 ]
- Friday: BNF also tested previous week’s mid-profile singles of 38830 to 38446 as it made a low of 38790 in the IB but left a small A period buying tail indicating that the PLR (Path of Least Resistance) remained to the upside as it went on to scale above previous highs of 38982 to tag 39115 into the close completing the 1 ATR objective from the weekly FA of 37751
- Monday: Holiday
- Tuesday:The auction continued the upside imbalance with a gap up open at 39310 but formed similar highs near 39473 in the IB signalling exhaustion which led to a long liquidation move down to 39155 before settling down to close right where it opened which was also the zone where both the day’s POC & VWAP were aligned
- Wednesday: Saw another higher open and a balance being formed in Tuesday’s range for most part of the day with Value above 39310 and a prominent POC around 39384 before giving a move away from here in form of a spike close from 39450 to 39549
- Thursday: BNF continued this imbalance to the upside after taking support at the yPOC of 39384 at open to hit new highs for the series at 39678 in the IB as it tagged the 09th Nov 2021’s PBH of 39670 but the lack of fresh demand triggered a profit booking probe lower leading to marginal new lows for the day at 39330 which was rejected resulting in a FA being confirmed & gave yet another spike higher into the close completing the 1 ATR objective of 39776 and closing the week with a Neutral Extreme Day Up
The weekly profile is a Trend One Up though Value of the last 3 days were overlapping to higher giving a balanced look with a prominent POC at 39402 & completely higher weekly Value at 39186-39402-39654 with the VWAP of 39321 being the important reference on the downside for the coming week.
