Yesterday's Power On Close = Strength
Today's Open = Open @ 1151 GAP Dn (5.5pts)
Result = Choppy Range/late reversal into strong up trend
Today's TREND = late reversal before 7 bar stronge up trend
Today's 15 Minute Close Bar =UP @ 1219.00
Today's Power On Close = Strength
Daily Volume = 3.15M Volume
Today's $TICK close = 477
R1 1223, R2 ,1224 R3 1229, R4 1224
S1 1218(Globex) S2 1211, S3 1207, S4 1203
Daily Market Bias For Tomorrow =
0.357 Moderate Range
Daily's are showing some signs of Weakness, ES closed as another long legged Doji which could indicate further slowing and indecision in the market. We are currently at the cycle resistance on the @ES contract but whether we will roll over or not is yet to be seen. Today we never broke the previous days lows and actually closed up on the day after an early reversal and down trend for the day. A break above the 1229 highs could send us back to the 1260 and beyond level.
From a broader View there appears to be quite a bit of Strength in the market as we have Very High Volume Down bars in the Background bottoming at 1080 (black Swan) with Exhaustion selling coupled with the recent test of the lows only bottoming at 1111 (higher low) on Light Volume and Divergence, with multiple test in a rising market bars, we are now in the mark up phase doing much of the rallying in the Globex session where manipulation can be executed while the normal session has seen hype selling and indecision.
From a broader View there appears to be quite a bit of Strength in the market as we have Very High Volume Down bars in the Background bottoming at 1080 (black Swan) with Exhaustion selling coupled with the recent test of the lows only bottoming at 1111 (higher low) on Light Volume and Divergence, with multiple test in a rising market bars, we are now in the mark up phase doing much of the rallying in the Globex session where manipulation can be executed while the normal session has seen hype selling and indecision.
The Volume Profile
The Daily ES.D Profile Structure - Even close(bearish), Normal Range, Normal Volume - neutral
The ES Globex Structure - In Balance, wider Range, Normal Volume. - neutral
TRADE OF THE DAY:
Today there was many TOD's and the first came early off the 4500 tick cycle restistance that became support and lined up with the BB mid testing this area which showed some probars testing on the pre-open. An break above the 1220 bar was the best entry. The 1500 and 500 synched for a nice rally into the 1229 zone.
WHAT I COULD HAVE DONE BETTER:
EVERTHING!!
TRADE SELECTION STILL SUCKED early on, Entries were amature at best early. Exit were equally horrible.
I hesitated on the 2 best sequences of the day and exited too early on the 3rd best seq of the day.
Im sooo far out of synch at the moment that confidence need nourishing.
My nerves are the cause, when i get upset and throw caution to the wind, i manage to salvage the day, but constantly battling from behind is a losing proposition in this bisuness.
When i nail the entry my exits have been horrible!!!
I was too patient early to the point of hesitation and wound up entering with No little confidence
SOLUTIONS:
Dont ever trades with No confidence behind it, if goes your way you will exit too soon and if goes away from you may cut it too soon, this will cost you either way.
CONFIDENCE IS KEY, Enter with CONFIDENCE, hit the BUY button Hard and stick your chest out but dont marry the move.
The Best sequences are the toughest to enter and exit properly.
I must allow the trades to play out, it would help to remember to note to myself why you entered and what you expect from the sequence.
WHAT I DID BETTER:
I was too patient early to the point of hesitation and wound up entering late and on sequences that were not real.
TRADE SELECTION STILL SUCKED early on, Entries were amature at best early. Exit were equally horrible.
I hesitated on the 2 best sequences of the day and exited too early on the 3rd best seq of the day.
Im sooo far out of synch at the moment that confidence need nourishing.
My nerves are the cause, when i get upset and throw caution to the wind, i manage to salvage the day, but constantly battling from behind is a losing proposition in this bisuness.
When i nail the entry my exits have been horrible!!!
I was too patient early to the point of hesitation and wound up entering with No little confidence
SOLUTIONS:
Dont ever trades with No confidence behind it, if goes your way you will exit too soon and if goes away from you may cut it too soon, this will cost you either way.
CONFIDENCE IS KEY, Enter with CONFIDENCE, hit the BUY button Hard and stick your chest out but dont marry the move.
The Best sequences are the toughest to enter and exit properly.
I must allow the trades to play out, it would help to remember to note to myself why you entered and what you expect from the sequence.
WHAT I DID BETTER:
I was too patient early to the point of hesitation and wound up entering late and on sequences that were not real.
INTANGIBLE OBSERVATIONS:
Only take the BB break in the direction of the first break and in sequence with Cycle and probars.
Exit on probars with exhaustion on the 4500 tick, after BB mid break and extreme pushes.
BB breaks can target the extremes also.
Look into the 12:30 momentum bar for a closing play.
Exit on probars with exhaustion on the 4500 tick, after BB mid break and extreme pushes.
BB breaks can target the extremes also.
Look into the 12:30 momentum bar for a closing play.