Yesterday's Power On Close = Weakness
Today's Open = Open @ 1312.25 GAP UP(4.25 pts)
Result = Bull Trend 7 bar HARD sell off.
Today's TREND = Bull Trend 7 bar sell off.
Today's 15 Minute Close Bar =Down @ 1307.00
Today's Power On Close = Weakness
Daily Volume = 2.87M high Volume
Today's $TICK close = -343
Daily Market Bias For Tomorrow =
+0.50 Modest BULL
Daily's are showing some strength, with a high volume down bar closing just at the 1307 level, we may see a hard sell off and bounce early. Or a hard rally then late day sell off such as today. In either case the early rally may not be trustworthy as we may fall into into consolidation for a few days.
TRADE OF THE DAY:
There was NO TOD for me today!!!!
But the 13500 Open Ice was a 1 shot 1 kill opportunity!!
But the 13500 Open Ice was a 1 shot 1 kill opportunity!!
WHAT I COULD HAVE DONE BETTER:
EVERYTHING!! I entered the 1st trade off impulse and did not take profit when provided.
Felt Off and Frustrated at the onset and could not let the last trade go.
I refused to close a 3 pt profit with a re-entry on the same sequence.
I did not scratch ANY losses well.
I Have Ignored the Open Ice Breaker for the past few weeks, and today it caught up with me. It ran 4pts in 3 bars and I totally missed it!!!!!!!!!
I Have Ignored the Open Ice Breaker for the past few weeks, and today it caught up with me. It ran 4pts in 3 bars and I totally missed it!!!!!!!!!
SOLUTION:
Stop taking trades prior to the OPEN ICE unless the setup is very obvious!!!!
INTANGIBLE OBSERVATIONS:
13500 Head & Shoulders pattern. Be aware of the larger patterns, open you view to see these more clear.
