Yesterday's Power On Close = Weakness
Today's Open = Open @ 1126.50 GAP Dn(2.75 pts)
Result = Continuation UP Trend
Today's TREND = UP Trend
Today's 15 Minute Close Bar =Down @ 1168.00
Today's Power On Close = Strength
Daily Volume = 4.46M ULTRA High Volume
Today's $TICK close = 824
Daily Market Bias For Tomorrow =
.357 STRONG / MODERATE BULL RANGE
Daily's are showing Signs of short term strength Breaking out of an inside day after yesterday's No Supply type bar. However today's rally was on less volume than the previous 2 days and Failed to close above the previous high. The 135 in a Bearish Cycle Resistance, The 40500 High multiple Probars at the peak with Exhaustion. And the 1440 and the ES Continuous contract Closed with a Block at the top, possibly signaling Market Makers shorting a the highs. My Bias for Friday is reading slight Bullish Range, since the volatility has been so high these reading need to be exaggerated. If we Break above the 1180 area I'm bullish till the 7 bar and possibly beyond. Conversely if we get Rejection at these levels, then I'm a Bear till 7 bar.
The Volume Profile shows 3 days of Pressure Building up that needs to released. Expect a breakout, both ES and ES.D are pointing to the Upside so ill expect test of the high area early
The Volume Profile shows 3 days of Pressure Building up that needs to released. Expect a breakout, both ES and ES.D are pointing to the Upside so ill expect test of the high area early
TRADE OF THE DAY:
The TOD was a pullback in UP Trend on the 4500 tick, it overshot the 4500 but synced with the 1500 and 500 ticks for a Triple play. The Best Entry was in the 1226-1228 area. An Entry here was good for a peak high @ 1254 on the 7 bar.
WHAT I COULD HAVE DONE BETTER:
Be more patient, I was kinda impulsive today as if it wasn't serious. I seen the signs but chose to be risky (Over Confident from yesterday)
Totally Ignored my Day type and Bias, I acknowledged the potential to trend early and totally traded against that..(Over Confident from yesterday)
INTANGIBLE OBSERVATIONS:
REMEMBER that when entering look at the recent peak/ Spike and enter on the right side In the direction AWAY from the Peak / Spike. This reminder helps to keep me to stay aware of the correct Trend and wait for Reversal plays