Morning Focus till 7 Bar Zones is key!

Yesterday's TREND = Bearish RANGE

Yesterday's Power On Close = Weakness

Today's Open = Gap Up (2.75 points) 

Result = Continuation and Bearish Range

Today's TREND = Continuation Early Reversal to Bearish Down Trend

Today's 15 Minute Close Bar =Dn@ 1352.00

Today's Power On Close = Weakness

Daily Volume = 1.64 Average

Today's $TICK close = UP@ +121

Daily Market Bias =  - 0.786 Moderate Bear

Today was an early reversal continuation from the previous Days Globex session that moved up to test Resistance then trended down for the remainder of the day. There were multiple opportunities and it appears that we be headed for more downside test.

TRADE OF THE DAY

came on a peak at 1357.25. This was 15/14 sync at the Yestarday's Lower POC. (500 shows an Overshoot but on many probars signaling a reversal, the 2 minute had 5 consecutive Blocks at the peak highs also. Price slowly trended down from hear until the 7bar zone @ 1351.25. During this trend down we saw price retest the Globex Low Volume Area and get rejected and on the 3rd correction it failed to reach the Globex Low Volume Zone. Ultimately the break below the previous days Lower POC was the pink elephant for the morning point the way till the 7 bar zone.

1500 tick failing at Previous days Lower POC. And cycle sync with 4500 tick (* Notice failed attempt to retest the highs)

4500 tick sync

 500 tick overshoot but high volume showing with probars

What I Can do Better

Allowing the trades to playout when you see clear rejection on high volume or NO volume is critical, especially in the morning, lasting reversals are more likely to show after the 7 bar peak. Thus we want to identify the bias and ride entrys till the 7bars.

INTANGIBLE OBSERVATIONS:

PASS on Confluence Syncs that DONT show Probars, Rambos, or Blocks. They are usually against the Trend.
Today I passed on a 5/15 Against the Trend with No Volume Confirmation and the move would have stopped out.


Dont Get Cute, just allow the trades to play out.

When we see a peak and failed attempt to retest it, or a rejection short of that area this is a great continuation warning, these are clearly evident on the lower time frames.

Focus on the first 90 minutes of day can limit your exposure tremendously. see Limiting Exposure on with 7&9 bar zones.