Well, this update is after a few months. There was good trade facilitation towards the down side on Friday with initiative selling RE. However the market spend more time around Thursdays VA and then RE came. This indicates some early acceptance at higher levels, before the RE. This may be a warning that the down move is ending.
1. Index completes the double distribution from Friday and continue to trade downward. If this happens, observe the profile for completion of DD and when u feel it is complete, look for down ward break. Another scenario is a failure to break above lower distributions VAH and swift down move through VA.
2. Index testing the previous swing low. If it fail to auction below the swing low, it may rise to fridays POC 5794 or beyond.
3. Index rise to the POC, slows down and trades lower.
1. Index completes the double distribution from Friday and continue to trade downward. If this happens, observe the profile for completion of DD and when u feel it is complete, look for down ward break. Another scenario is a failure to break above lower distributions VAH and swift down move through VA.
2. Index testing the previous swing low. If it fail to auction below the swing low, it may rise to fridays POC 5794 or beyond.
3. Index rise to the POC, slows down and trades lower.
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