Yesterday's Power On Close = Weakness
Today's Open = Open @ 1212 GAP Dn(13 pts)
Result = Gap Break Down Trend
Today's TREND = Gap Break Down Trend
Today's 15 Minute Close Bar =Down @ 1197.50
Today's Power On Close = Weakness
Daily Volume = 6.1M ULTRA High Volume
Today's $TICK close = -192
Daily Market Bias For Tomorrow =
0.214 STRONG RANGE
Daily's are showing Signs of short term strength, closing with a hammer on ultra high volume indicating that supply is still around and needs to be tested prior to any sustainable rally or even consolidation. I need to see a break above todays highs before considering Longs and even then timidity is way of the trade. Until then patients is the way.
TRADE OF THE DAY:
The TOD came later in the morning @ about 1hour on a BB Midline cross with multiple Probars at the low. The Best Entry was @ 1189.25. Price maxed out at 1203.
WHAT I DONE BETTER:
Was start the day later, this allows me to see What HAS happend early and react to that information more carefully.
Took Solid entry's and Exits.
INTANGIBLE OBSERVATIONS:
REMEMBER On EXTREME WHIP saw days, consider starting later when the volitilty comes down a bit, there will be multiple oppurtunities.