Yesterday's Power On Close = Strength
Today's Open = Open @ 1172 GAP Up (13.5pts)
Result = Dn trend to 7 bar reversal into up trend.
Result = Dn trend to 7 bar reversal into up trend.
Today's TREND = Strong Up trend
Today's 15 Minute Close Bar =UP @ 1204.75
Today's Power On Close = Strength
Today's Power On Close = Strength
Daily Volume = 3.1M High Volume
Today's $TICK close = 733
R1 1206.(Globex) R2 1211.75 R31223 R4
S1 1200(Globex) S21198 S3 1196 S4 1191
Daily Market Bias For Tomorrow =
1.642 Strong Bull
Daily's are showing some signs of Strength. The ES closed up for the 4th consecutive day after a 7 bar reversal that lasted all day. We are Now kissing the 1/2 mark of the Trend Channel and have crack the 1200 level. The next stop is 1223 with good air in between. We may see a test of the 1200 level in the globex session for good measure but if not the rally could b in full swing. I'm looking for a 4500 Upper BB open and pullback for Friday's ice breaker entry.
The ES.D Volume Profile has printed a tighter rang symmetrical profile with Value peaking from 1194-1198, This may serve a solid support for any pullbacks in the globex session or pre-open for Friday. The next upside VPOC is 1211-1212. The ES has printed a b-pattern signaling patient longer term buyers in the wing probably entering above 1200. A pullback to the Value area would be at 1198 and the wider 1198.
The ES.D Volume Profile has printed a tighter rang symmetrical profile with Value peaking from 1194-1198, This may serve a solid support for any pullbacks in the globex session or pre-open for Friday. The next upside VPOC is 1211-1212. The ES has printed a b-pattern signaling patient longer term buyers in the wing probably entering above 1200. A pullback to the Value area would be at 1198 and the wider 1198.
TRADE OF THE DAY:
Today was a BB Reversal after an early sell off that ended on the 7 bar. The 1500 tick had exhaustion on the low and nailed the bottom with an EOT. The 500 overshot the bottom with probars and rambos and the 5 minute nailed the low also with cycle support. The ranked entry was @1188.75 bar break after the high volume close bar. price quickly tested the midline and rallied for remainder of the day signaling a true pro exit signal @1201.5. Don't how i missed this I did see it but the bar break got away from me and i didn't want to chase it. maybe i should have.
WHAT I DONE BETTER:
TRADE SELECTION - good trades Except 1, but blew the TOD entry opportunity.
ENTRY'S -Good to qualify entries. Except 1
EXITS - Poor all day, Markers too tight and failed to quickly close the Highest Risk Trade of the day. Max stopped out with many chances to exit. Over confident?
NERVES - Very Good, felt relaxed and calm all day. Had a clear broad perspective, but Failed to manage and Exit the trades correctly.
WHAT I CAN DO BETTER:
Manage the trades better, particularly the early opportunities, had I done this I would have prevented losses and hit 1S1K early.
Be quicker to look for the reversals after early sell offs. Use the BB Reversal Criteria and jump em.
Must take advantage of the Opportunities when they present themselves.
SOLUTIONS:
On the early entries allow them to play out, the chances are good that your target will be hit if you have clearly defined low risk entries.
Trust my trades and have confidence in my ability.
Keep with the visualizations and focus.
ENTRY'S -Good to qualify entries. Except 1
EXITS - Poor all day, Markers too tight and failed to quickly close the Highest Risk Trade of the day. Max stopped out with many chances to exit. Over confident?
NERVES - Very Good, felt relaxed and calm all day. Had a clear broad perspective, but Failed to manage and Exit the trades correctly.
WHAT I CAN DO BETTER:
Manage the trades better, particularly the early opportunities, had I done this I would have prevented losses and hit 1S1K early.
Be quicker to look for the reversals after early sell offs. Use the BB Reversal Criteria and jump em.
Must take advantage of the Opportunities when they present themselves.
SOLUTIONS:
On the early entries allow them to play out, the chances are good that your target will be hit if you have clearly defined low risk entries.
Trust my trades and have confidence in my ability.
Keep with the visualizations and focus.
INTANGIBLE OBSERVATIONS:
After Nailing the Open Ice, Immediately turn your attention onto the Reversal. Price often Reverses into the 7 bar after the 1st 30 minute momentum wears off. This reversal appears to run till around the 6:45-7 bar zone. Re study the early reversal and pre 7 bar action.
Be aware of the time of day.
DON'T JUSTIFY UNQUALIFIED ENTRIES!! This will lead to poor trade selections.
A Sign of a losing or winning trade - note if the ES would not respond when the $Tick moved down but would jump up when $TICK moves up, this is a clue that price has less resistance to the upside and is Basically Divergence.
Be aware of the time of day.
DON'T JUSTIFY UNQUALIFIED ENTRIES!! This will lead to poor trade selections.
A Sign of a losing or winning trade - note if the ES would not respond when the $Tick moved down but would jump up when $TICK moves up, this is a clue that price has less resistance to the upside and is Basically Divergence.