Yesterday's TREND = UP Trend
Yesterday's Power On Close = Strength
Today's Open = Open @ 1279.75 GAP Up (3.pt)
Result = Strong Up Trend
Today's TREND = UP past 7 bar
Today's 15 Minute Close Bar =UP@ 1294.50.75
Today's Power On Close = Strength
Daily Volume = 1.91M Volume
Today's $TICK close = 742
Daily Market Bias For Tomorrow =
0.643 Modest/Moderate BULL
Daily's closed above the previous cluster of accumulation and appears to be headed toward the 1300 area, This could happen over night in which case I would expect some resistance at 1310is as a Cycle very close. If we somehow break above this Daily cycle then we could be facing a short term up trend.
TRADE OF THE DAY:
The trade of the day came early on a 4500/1500 sync. We got a PB on the 1500 tick with a Cycle support on the 4500. The 500 was an overshoot BUT had Probars and divergence at the lows with a final Rambo to catch stops. A prime entry was the 1279-1280 area. After cracking the 1280 price tested 1279, the low volume here was a clue of intended direction. Price then continued the UP Trend established the Globex session peaking at 1284.75. The Best EXIT was between the 1283-1284 area.
WHAT I COULD HAVE DONE BETTER:
Be more selective about taking ice Breakers, Wide open bars against the Globex trend is a NO NO.
Could have been more patient on my last trade, many times when im looking for 1 point or so (trying to hit 4pt target) I enter too early and have to sit thru some heat, today the entry was not ideal, but the tape was accurate for 1 point. The heat was .75 not too bad
SOLUTION:
Know the Market Bias, Globex Trend and Day Type prior to entering Open Ice Trades.
Wait for EXTREMES ON THE VIX to confirm Open Ice.
INTANGIBLE OBSERVATIONS:
Early Predictors that MUST BE UNDERSTOOD - Know the Market Bias - Stick to the Bias as an overall Guage of direction, if this is off you should see the signs early by confirming with the follow predictors.
Globex Trend - Note if any trends are developing overnight and confirm with pre-open. Be sure to check High Lows, Strength and Weakness, Cycle Supports & Resistance in the Pre Open to edge the morning and match the Market Bias.
Opening GAP Day Type - After noting the Overnight session check the opening gap to understand the day type, this will further confirm market bias and Pre-Open, When all the predictor match dont hesistate to trade cycles in the intended direction. This is a must know prior to entering Open Ice Trades As well and other sync etc.
Get to the 4500 to find the Current trend.