Yesterday's TREND = Reversal Day
Yesterday's Power On Close = Weakness
Today's Open = Open @ 1282.25 GAP UP (2.5pt)
Result = Early Reversal of Pivot support.
Today's TREND = Range
Today's 15 Minute Close Bar =DN@ 1271.75
Today's Power On Close = Strength
Daily Volume = 2.7M Volume
Today's $TICK close = -839
Daily Market Bias For Tomorrow =
1.371 Moderate Bull
The Daily's are showing Exhaustion and Narrower spread Down Bars on High Volume with Stopping Volume Signal on both Daily's. Im expecting a bounce and possibly a rally back the 1292 Lower Trend Channel.
TRADE OF THE DAY
was an early PB in trend at the Globex Resistance area. We saw NO cycle on the 1500. BUT we got an EOT on the 500 tick. With Probars at the peaks. A short @ 1284.75 bar Break provided a healthy 5.75 point move to 1279.00.
WHAT I COULD DO BETTER
work on EXITS and adjusting my expectation on targets
Dont Waste any TIME DWELLING on the past Trade
INTANGIBLE OBSERVATIONS:
On Range Bias Days look to take 2 points often, Dont expect huge moves. particularly on NO news days and days after large Rallies or Sell offs
Bar Cluster on the 4500/1500 indicate a slowing of momentum and a potential correction/Reversal.
On Range Days focus more on the 4500 Swings as Entry and Exit points. This will help remove the Noise of the Lower time frames.
On Range Days focus more on the 4500 Swings as Entry and Exit points. This will help remove the Noise of the Lower time frames.