Here are the charts of Monday's trading
Coming into the open of today. The OF had given us a BUY Bias with signals at 4840 in the NF and 9075 in the BN.
With that as a background one wanted to see the positivity continue through
a) A move above VAH
b) A move above PDH
c) An IB extension to the upside.
As the day progressed these would have been the parameters deciding the quality of the BUY bias.
The NF managed the first two easily , but failed on the third point through the day and we had a sell signal at the close.
Having failed only at Point 1 and 2 , the quality of the sell signal is not really good as the NF still managed to close above VAH for the day. It will take a bigger effort in the morning to see selling come back.
As usual watch the value areas and particularly the value area low as selling will be more confident if the market stays below VAL tomorrow.
The VAH- VAL_POC values are all updated on the charts to the left.