Yesterday's Power On Close = Weakness
Today's Open = Open @ 1138.75 GAP Dn (20.50 pts)
Result = Gap test & Seal by 710 TI
Result = Gap test & Seal by 710 TI
Today's TREND = Gap test & Seal by 710 TI
Today's 15 Minute Close Bar =UP @ 1149.00
Today's Power On Close = Weakness
Today's Power On Close = Weakness
Daily Volume = 2.78M Volume
Today's $TICK close = -858
R1 1154-1155.(Globex) R2 1158 R3 1164 R4 1126
S1 1143.(Globex) S2 1140. S3 1136 S4 1142
Daily Market Bias For Tomorrow =
-0.5 Modest Bear
Daily's are showing some signs of Weakness. The ES closed Down today after a break below the 1162.50 level with selling into the close. I think we may be headed further south if we test the 1162 area in Globex session. We do have cycle supprt printed on the ES and ES.D with ST* in both directions.
The ES Volume Profile has printed a p pattern after testing the ES.D's p- pattern early and reversing for day. The Vpoc of 1165 and 1166 are the key resistance points.
TRADE OF THE DAY:
The TOD was a 1500 EOT that overshot on the 4500. It eas a general VSA setup with Probars leading into the highs, and divergence on the peak after prior Flush Signal. On the 5 minute we printed a End of a Rising Market bar on tight rand with block volume closing in the middle. This trade ran into the true 7zone were we saw prices reverse and make new highs
HOW I DID TODAY:
TRADE SELECTION -
ENTRY'S -
EXITS -
NERVES -
Market Focus & Action:
WHAT I CAN DO BETTER:
WORK ON THE ENTRY's!- If i can get better Entry's I can avoid taking too much heat, although this is not a perfect art I feel I be a bit more tactful on when to enter. ie think lowest risk entry once the big picture is understood. I would rather enter a lower risk
SOLUTIONS:
Focus on Lowest Risk portion of the ANALYSIS - The reason for entry should have at least 4pts as an intangible target, so gauge the lowest risk and try to enter there. If it conflicts with confirmation then be cautious.
ENTRY'S -
EXITS -
NERVES -
Market Focus & Action:
WHAT I CAN DO BETTER:
WORK ON THE ENTRY's!- If i can get better Entry's I can avoid taking too much heat, although this is not a perfect art I feel I be a bit more tactful on when to enter. ie think lowest risk entry once the big picture is understood. I would rather enter a lower risk
SOLUTIONS:
Focus on Lowest Risk portion of the ANALYSIS - The reason for entry should have at least 4pts as an intangible target, so gauge the lowest risk and try to enter there. If it conflicts with confirmation then be cautious.
INTANGIBLE OBSERVATIONS:
Use More VSA logic in your Trading -This is the fundamental truth learned over the past few years and all the concepts are in memory, They need to be applied far more often then relying on the volume indies, they are great but Overall market Logic needs to be applied on each trade.
Make a General VSA Ranking. Remember to use the higher time frames to establish larger trends, this will help with Upthrust and Stopping Volume Identifying.
Discontinue Triple Crown Setups, At least until im able to distinguish this from falling thru the ice.
Make a General VSA Ranking. Remember to use the higher time frames to establish larger trends, this will help with Upthrust and Stopping Volume Identifying.
Discontinue Triple Crown Setups, At least until im able to distinguish this from falling thru the ice.
