Yesterday's 15 Minute Close Bar = Down @ 11330.75
Yesterday's TREND = Tight Bearish Range Drifter
Yesterday's Power On Close = WEAKNESS
Today's Open = Gap Up (1.75 points)
Result = Continuation Range with Early Reversal.
Today's TREND = Tight Bearish Range Drifter
Today's 15 Minute Close Bar =DOWN@ 1330.75
Today's Power On Close = WEAKNESS
Daily Volume = 597k Far Below Average
Today's $TICK close = UP@ +118
Daily Market Bias = -1.5 Strong Bear
Today was a 1.75 gap Continuation Ranging day with early reversal. implication. Volume was very light all day as expected the morning after a 3 day weekend. I t still appears that the ES is being supported so I'll play it as I see intra-day.
TRADE OF THE DAY
The Trade of the day came early on a 500/All Sync that happened after a weak attempt to crack 1334.00 Resistance and EOT on the 13,500tick area. The sell off put in the days low at 1327.50.
1500 tick look at the break down.
WHAT I COULD HAVE DONE BETTER
was hold the position longer. Had I been more mindful of the 2nd cycle I could have taken more out of the trade, my entry was good and my add-on was good.
In this case when price moves immediately in my favor look to hold for max profit,(ie. Probars and Exhaustion on the 1500tick, know that when this happens early price is unlikely to reverse so quick.
Keep better Notes on the entry price to track Add-ons as trade progresses.
Keep better Notes on the entry price to track Add-ons as trade progresses.
INTANGIBLE OBSERVATIONS:
Ice breaker should pay by the 3rd bar, if NO volatility and tight range then back off and focus on the 7zone position.
On very Slow range days, positions after morning zones may never fully play out. Either avoid entering or take quick profits.
On very Slow range days, positions after morning zones may never fully play out. Either avoid entering or take quick profits.