Yesterday's 15 Minute Close Bar = Down @ 1328.50
Yesterday's TREND = Tight Range/UP Trend
Yesterday's Power On Close = Strength
Today's Open = Gap Up (4.75 points)
Result = Gap UP and Range Bound Drifter.
Today's TREND = Tight Bearish Range Drifter
Today's 15 Minute Close Bar =DOWN@ 1330.75
Today's Power On Close = WEAKNESS
Daily Volume = 1.27M Below Average
Today's $TICK close = UP@ +536
Daily Market Bias = -1.214
Moderate/Strong Bear
Moderate/Strong Bear
Today was a 5 pt Gap Up Continuation Ranging day with slightly Bearish implication. Volume was very light all day.
The Dailys look to be headed for a Hard fall, but Im expecting a bounce early next week after the good friday holiday. Then a large sell off next week. especially if there is NEWS to justify it. @ES Rambo and ES.D showing No Demand.
TRADE OF THE DAY
The trade of the day would be the trade that took all day. Im talking about the setup that showed at the 8:30 peak with a 5 minute & 15 minute upthrust followed by No demands and Rambos on the 4500 and 1500 tick. The trade took 3 hours to move 2 pts.
WHAT I DID WELL
was be patient in Identifying the day and being very picky. mainly staying on the side after the ice breaker. More sideline days are good for confidence.
Also I used the 1 minute 5 and 15 volume to ID setups and it helped alote as ticks dont show bottom volume too clear.
INTANGIBLE OBSERVATIONS
Better to be picky then to enter unsure or take a loss.
Use the 1,5 and 15 minute to follow VSA setups, they show better than ticks.
Breakout from consolidation can be seen by viewing the block volume axis as price expands you will see the direction of blocks.
Fight Cycles are HUGHE clues to immediate direction and great for scratching losses. See Fighting and Ignoring Price cycles.