No Gap Monday = Early Continuation Of Down move from Previous Day

Yesterday's TREND = Reversal Day

Yesterday's Power On Close = Weakness

Today's Open = Open @ 1295.75 GAP DN / NONE (.25pt)

Result = Continuation

Today's TREND = Down Trend with 7&9 zone re-entry

Today's 15 Minute Close Bar =DN@ 1285.25

Today's Power On Close = Strength
Daily Volume = 2.18M Volume

Today's $TICK close =  -654

Daily Market Bias For Tomorrow = 

0.143 Strong Range

Today was a Continuation of the previous days trend, with No gap. We saw and early reversal into trend that provided multiple re-entry points along the way. Volume was slightly lower than friday bit still significant. Tommarrow we may see a retest of the 1295.00 Resistance from trend channel break.

TRADE OF THE DAY

Was an early PB in the down trend on the 4500 and sync with 1500 and 500 tick. The ideal short entry was @ 1297.50 break confirmation on the 1500 tick. This move sold off 7 points to the 1290 morning Low. Also notice the Re-entry on the 1500

WHAT I COULD HAVE DONE BETTER

I could have been more patient, I got over confident and entered without confirmation on a re-entry. This cost me 1 point on the move.

I Exited too early on 2 trades. Allow the move to play out, when we have exhaustion and High Volume in back ground Trust your knowledge here, 

SOLUTION

Wait for Confirmation on the 500 or 1500 tick prior to entry.
And Be patient with Exits, they usually return for second and third exit opportunities.

INTANGIBLE OBSERVATIONS:

Look for Failed test at the 1/2 line on the 4500 tick, breaks are preceded with high volume around the 1/2 line area.

Also test usually have 2 bar reversals around the 1/2 that fail.

On Reversals -  Show Best on Higher Time Frames. Look at 4500 as priority, upper/lower BB goes flat or turns in reversal direction. Confirm with Cycle, Volume and Momentum. Also look for bar cluster to form at these extremes in price cycles.

Look for 2 bar reversals at the BB, extreme Levels for reversals, breaks and test.