On the Daily we see price bounced off the long term trend line to close up at 1320. A break out this cluster area between 1327 - 1330 could lead to another leg up for the S&P Eminis. Looking at the Daily chart we are beginning to see cycle Support being printed on Better Sine along with an Exhaustion Selling signal which could confirm a move to the upside in the coming days.
What Did I do Well?
My Forcast for the day was spot on using my New After market Pre prep routine.
I was able to spot the likely bounce and trend direction for the day.
Had great entries and was able to switch my bias once the trend seemed to change.
I recognized the FLAG consolidation and break to the upside.
I was able to spot the likely bounce and trend direction for the day.
Had great entries and was able to switch my bias once the trend seemed to change.
I recognized the FLAG consolidation and break to the upside.
What Did I do Poorly?
I missed the best move of the day, which was a price over shoot on 1500 & 400 tick with NO pro bars signals(there was Bullish Exhaustion on the open and hidden at the base of the reversal)
But the 500 Tick looked great. I just hesitated because i didnt see the confluence till too late.
Exited waay too early on 2 trades, and actually had a winner become a small loser, but was able to put it behind me and move on.
But the 500 Tick looked great. I just hesitated because i didnt see the confluence till too late.
Exited waay too early on 2 trades, and actually had a winner become a small loser, but was able to put it behind me and move on.
How will this affect my Account?
Missing the big move - This will happen from time to time and can possibly lead to over trading and forced positions if not careful.
Exiting too early - Limits my profits, when this happens consistently it does effect my risk reward ratio.
Exiting too early - Limits my profits, when this happens consistently it does effect my risk reward ratio.
Solutions:
Missing the big move - I will adjust the Signal to show on Paint Bars and get more focused on movements in the morning ( 1st hour )
Forcast the entry and stay with the trade!! And may have to adjust my limits to 2 points.
Must Allow analysis to play out!!
Forcast the entry and stay with the trade!! And may have to adjust my limits to 2 points.
Must Allow analysis to play out!!
Intangible Jewels:
---> The 4 Quarters of Intra-Day movement - usually 2 main trend moves in a day but 4 possible types of setups to look for. Trend, Range, Consolidation and Runner Range Trend(No pull backs and not many opportunities)
---> If the Calender has NO news be aware that the day can die out early!! This is a great time to STOP!! If you get caught trading in a dead environment it can be very costly
- Dont wait for cycles. Enter on the anticipation of Better Sine once all else is in place.
- Block Trade Indicator shows clues above 15-17 on the 500 tick chart, **Needs more study**
- More on Micro Trend Movement - They seems to spot Flags and consolidation very well, when we see this look for Breakout in trend direction. *see chart below*
- The cycle tends to tighten as the trend begins to slowly change.
2 minute chart shows tightening cycles prior to selloff @ 12:30 and 15:00
Micro Trend Consolidation and Breakout 1500.
Micro trend FLAG Consolidation Breakout on 500 Tick.
---> If the Calender has NO news be aware that the day can die out early!! This is a great time to STOP!! If you get caught trading in a dead environment it can be very costly