Yesterday's 15 Minute Close Bar = UP @ 1316
Yesterday's TREND = UP
Yesterday's Power On Close = Strength
Today's Open = No Gap (2.25 points)
Result = Gap Seal Test of Support Up trend.
Today's TREND = Strong UP
Today's 15 Minute Close Bar = UP @ 1316.25
Today's Power On Close = Strength
Daily Volume = 1.5M low
Today's $TICK close = Down @ 647
Today it hit me hard that i need to simplify my style, my charts and my entry triggers amongst other things. The 7&9 bar Zones have served well in accomplishing this but there is still more to be done.
Today we saw a One Shot One Kill Trade that Gapped Up Seal and test of the OverNight Lows, which also happend to be a critical number around 1300. The 13,500 Cycle S/R showed it at 1302, we got EOT on the 4500 and 500ticks, as seen below the 1500tick will often over shoot the support, so my focus should only be on the 500 in the direction of the 4500 tick. Away from previous days and Overnight Support areas.
7&9 Bar zones show continuation and price agreed.
TRADE OF THE DAY
came on the first early morning bounce off the critical support area around 1300.
Once the 6:00 bar high was taken out we were off to the races for the remainder of the day.
This was evident with Overnight support below and EOT's on the 4500 and 500tick.
The 7&9 Bar zones activity seemed to play out faster today. After we got the runner the 6:45 bar served as confirmation for a continued uptrend, closing at the same price for over for 45 minutes, (3 15 minute bars) Then continuing the rally high at 7:45, we again tested this high at 8:30 and took a small breather.
The 9 bars appears to show No demand at 1311.50 resistance area after consolidation, BUT we see higher highs over the next 2 bars, showing that we could retest the morning highs and move even higher.
What can i do better?
FOCUS on the Globex Support Resistance area. This is a Bread and Butter play that happens very often.
Executing and staying with the position as long as conditions remain is a goal. even until the 8:30 peak if the market says so.
Notice Critical Areas, beyond the Cycles, look for S/R from higher frames as well as round numbers 1300 etc. Use Daily Pivots also. when these overlap, that is a strong sign of support/Resistance.
The Sine Cycles should be used mainly for the lower frames, Only use the 4500 to match the lowers.
At each 7&9 bar zone check background for S/W