Yesterday's 15 Minute Close Bar = Down @ 1288
Yesterday's TREND = Down
Yesterday's Power On Close = Weakness
Todays Open = Gap Down (3points) 1285
Result = Strong UP Trend GAP Break, after early double bottom
Today's TREND = UP
Todays 15 Minute Close Bar = Down @ 1292
Today's Power On Close = Weakness
Today's Power On Close = Weakness
Daily Volume = 1.99M
Today's $TICK close = UP @ 403
Today was saw a classic double Bottom that found it own support at 6:45 on High Volume down bars, then returned to the same area on low volume at 7:00, we saw bearish divergence on multiple frames with confluence cycles acroos the 4500, 1500, 500, 15 minute, 2 minute and 1 minute time and $TICKS. From here we Trended very Strong Breaking the day's Gap and continuing to the close.
Gap Break on the 15 minute chart showing very solid trend after double bottom @ 7:00 bar and Consolidation @ 9:15 Bar.
How it looks on the 2 minute time and $TICK. showing overbought reading -1000 prior to start of trend. ** Notice the Moving Average stayed above -0 Line after this move.
What did i Do Well?
Today I showed better Patients on the open and took good trades.
I stayed with the Trend and was very aware of the S/R and S/W.
Was able to recognize developing TRENDS
Solid with ATM strategy and gave back NO gains
Was able to get MAX gain a few trades by staying patient and constant observation.
Discovered the 7:00 & 9:15 Bars and clues for determining potential Strong Trends on Gap Seal & Break days
Stayed Focused for long period prior to Matrix problem.
What Did I Do poorly?
I did enter Early on a short trade that was consolidating in a flag pattern, it showed signs of breaking out but i stayed with it and was stopped out. (I should have cut i early as Strength was in back ground)
How will these effect your Progress?
When the market tells you to get out GET OUT!! If you dont listen to the market then you are slowing your progress and racking unescesary losers.
What are your Solutions?
When you see a consolidation. know where daily strength & Weakness is at and position yourself with this at you back.
The KEY to cutting loses and Maximizing profits and letting the market tell you when to get out. There is no better signal then the ones that point to exiting.
Intangible Observations
Recognizing Gap Seal & Break Days and Spotting the EARLY Reversal and TREND.
Today i Notice that on Days that gap more than 2 points but less than 5 will tend to SEAL the gap starting a reversal at the 7:00 am Bar or consolidating at 9:15 then continuing or reversing on next bars. see Recognizing Gap Seal Trends and their early reversal.
- Consider a Confluence Point system.
- If trend is unclear look at the background to determine S/W. If you determine weakness get confirmation with mushroom top and break below range on increasing volume, same for strength, find the saucer and look for No supply area.
- Never Enter a trade AGAINST a runner that has broken out. It is like a wild animal protecting its cubs, it will attack and bit you!!
- After a runner wait for Exhaustion, No Demand/Supply, Upthrust and must roll over prior to entry. In a strong up trend dont try to catch the sell off even if its look weak with mushroom etc. Look for the upside breakout.
- 2 Minute $TICK extended beyond 1000 can be used like an exhaustion signal to sell or look for reversals, but you must allow time for move to ply out. Only If its with the TREND.
- Draw TREND LINES and Channels on 15M & 5 M as soon as I spot Peaks in line with other, if you wait to draw them it can cost you a piece of a move. You need to be able to see them before they play out fully.
- $TICK moving Average stays above 0 after 7:00 & 9:15 then trend is Very Strong and may last for the day.
- 3LB Trend should be respected, i t showed well and matched the 1 minute most of the day, further confirming trend strength.
- 2 Minute chart was in sync with 1500 tick and 1 minute chart synced 500 tick printing PB's and EOT in same places.
Today's $TICK close = UP @ 403
Today was saw a classic double Bottom that found it own support at 6:45 on High Volume down bars, then returned to the same area on low volume at 7:00, we saw bearish divergence on multiple frames with confluence cycles acroos the 4500, 1500, 500, 15 minute, 2 minute and 1 minute time and $TICKS. From here we Trended very Strong Breaking the day's Gap and continuing to the close.
Gap Break on the 15 minute chart showing very solid trend after double bottom @ 7:00 bar and Consolidation @ 9:15 Bar.
What did i Do Well?
Today I showed better Patients on the open and took good trades.
I stayed with the Trend and was very aware of the S/R and S/W.
Was able to recognize developing TRENDS
Solid with ATM strategy and gave back NO gains
Was able to get MAX gain a few trades by staying patient and constant observation.
Discovered the 7:00 & 9:15 Bars and clues for determining potential Strong Trends on Gap Seal & Break days
Stayed Focused for long period prior to Matrix problem.
What Did I Do poorly?
I did enter Early on a short trade that was consolidating in a flag pattern, it showed signs of breaking out but i stayed with it and was stopped out. (I should have cut i early as Strength was in back ground)
How will these effect your Progress?
When the market tells you to get out GET OUT!! If you dont listen to the market then you are slowing your progress and racking unescesary losers.
What are your Solutions?
When you see a consolidation. know where daily strength & Weakness is at and position yourself with this at you back.
The KEY to cutting loses and Maximizing profits and letting the market tell you when to get out. There is no better signal then the ones that point to exiting.
Intangible Observations
Recognizing Gap Seal & Break Days and Spotting the EARLY Reversal and TREND.
Today i Notice that on Days that gap more than 2 points but less than 5 will tend to SEAL the gap starting a reversal at the 7:00 am Bar or consolidating at 9:15 then continuing or reversing on next bars. see Recognizing Gap Seal Trends and their early reversal.
- Consider a Confluence Point system.
- If trend is unclear look at the background to determine S/W. If you determine weakness get confirmation with mushroom top and break below range on increasing volume, same for strength, find the saucer and look for No supply area.
- Never Enter a trade AGAINST a runner that has broken out. It is like a wild animal protecting its cubs, it will attack and bit you!!
- After a runner wait for Exhaustion, No Demand/Supply, Upthrust and must roll over prior to entry. In a strong up trend dont try to catch the sell off even if its look weak with mushroom etc. Look for the upside breakout.
- 2 Minute $TICK extended beyond 1000 can be used like an exhaustion signal to sell or look for reversals, but you must allow time for move to ply out. Only If its with the TREND.
- Draw TREND LINES and Channels on 15M & 5 M as soon as I spot Peaks in line with other, if you wait to draw them it can cost you a piece of a move. You need to be able to see them before they play out fully.
- $TICK moving Average stays above 0 after 7:00 & 9:15 then trend is Very Strong and may last for the day.
- 3LB Trend should be respected, i t showed well and matched the 1 minute most of the day, further confirming trend strength.
- 2 Minute chart was in sync with 1500 tick and 1 minute chart synced 500 tick printing PB's and EOT in same places.