NF (August) Weekly Profile (29th Jul to 04th Aug 2022)
17388 [ 17505 / 17055 ]
- Friday: NF opened with a 140 point gap up continuing previous week’s NeuX (Neutral Extreme) imbalance after which it made a failed attempt to probe lower resulting in a C side extension to 17055 as the auction formed a nice Gaussian Profile for most part of the day building a prominent POC at 17137 before leaving a late extension handle at 17173 in the L period confirming a FA (Failed Auction) at lows and made a high of 17223 leaving a NeuX Day Up
- Monday: Saw a rare follow up to a NeuX Day with another higher open but made a re-entry into Friday’s NeuX zone of 17223 to 17173 and took support at 17192 and left an initiative buying tail in the IB from 17252 to 17192 after which it formed a slow Trend Day Up completing the 2 ATR objective of 17364 while making a high of 17396
- Tuesday: The auction returned to balance first with an OAIR start after which it probed lower in the IB and tested Monday’s buying tail while making a low of 17241 marking the end of the downside after which it first filled up the low volume zone and made couple of REs (Range Extension) to record new weekly highs of 17420 in the L period but made a sharp retracement back to the dPOC of 17309 into the close
- Wednesday: NF continued the balance it was forming as the OTF (One Time Frame) probe it made in the first half of the day stopped at 17244 just above PDL after which it reversed to the upside for the rest of the day hitting marginal new highs of 17426 into the close forming the second NeuX Up Day of the week but range & value were still overlapping giving a nice 3-day composite with Value at 17256-17309-17356
- Thursday: The second time in the week a NeuX Day got a follow up with a higher open and new highs of 17505 in the IB but settled down into an OAOR & formed a huge Outside Day with the help of a Double Distribution Trend Down Profile as it engulfed the last 3 days range and almost tagged the extension of 17173 from Friday where it left a responsive buying tail till 17245 before closing the week at 17388
The weekly profile is a Trend Up one which completed the 3 IB objective of 17408 to the upside and thanks to the 4 overlapping days has formed a nice balanced Value Area zone at 17260-17320-17404 with the VWAP at 17298 which will be the important support level for the coming week.
BNF (August) Weekly Profile (29th Jul to 04th Aug 2022)
37771 [ 38270 / 37282 ]
- Friday: BNF opened the week with a big gap up of 318 points completing the 1 ATR objective of 37670 from the weekly FA of 36313 as it made a high of 37800 but saw good profit booking at 37750 as it formed a long liquidation ‘b’ shape profile for the day with a C side extension to 37282 where it left a small buying tail till 37339 and closed the day around the dPOC of 37596
- Monday: The auction found demand coming back at open as it left an initiative buying tail in the A period from 37574 to 37483 after which it left a rare C side extension handle at 37726 and formed a slow Trend Day Up negating previous session’s selling tail & making new highs of 37983 into the close but saw the dPOC shifting higher to 37928 indicating profit booking by the longs once again
- Tuesday: Saw a gap down open of almost 200 points as BNF tested the extension handle of 37726 while making a low of 37667 in the IB where it once again found demand coming back leading to multiple REs to the upside which enable it to scale above 07th Apr’s Swing High of 38180 while making a high of 38232 but once again the buyers did not want to carry the positions and profit booking caused a move back to the VWAP of 37909 into the close with the dPOC also shifting higher to 38057
- Wednesday: formed an Inside Day and a balanced profile as it was unable to get buyers interested above 38057 at open triggering a probe down to 37744 after leaving a small selling tail in the IB from 38012 to 38122 where it took support at Tuesday’s HVN of 37764 before cimbing back into the A period singles into the close leaving a prominent POC at 37928
- Thursday: BNF made a higher open and hit new marginal new highs for the week at 38270 but formed a very narrow IB range of just 186 points indicating poor trade facilitation or lack of fresh demand as sellers took complete control and made a trending move down of 982 points forming Double Distribution Trend Day Down but also left a long responsive buying tail from 37447 to 37288 just above the weekly VAH & the RO point to close at 37771 almost around the same level it had opened this week
The weekly profile is a nice balanced one thanks to the responsive activity it got all week & has formed completely higher Value at 37576-37912-37954 so can expect this balance to turn into an imbalance once again in the coming session(s).