Yesterday's Power On Close = Weakness
Today's Open = Open @ 1179.75 GAP Dn (21.75pts)
Result = Tight Tange Drifter up then 12:00 selling climax
Result = Tight Tange Drifter up then 12:00 selling climax
Today's TREND = Up trend Tight range drift until sell off
Today's 15 Minute Close Bar =UP @ 1170.00
Today's Power On Close = Strength
Today's Power On Close = Strength
Daily Volume = 3.28M Volume
Today's $TICK close = 313
R1 1168.(Globex) R2 1173 R3 1183 R4 1189
S1 1164.(Globex) S2 1157. S3 1148 S4 1142
Daily Market Bias For Tomorrow =
.357 Moderate Range
Daily's are showing some signs of Strength. The ES closed Up again on narrow range bar that closed in the middle with Block Volume. Landing price back in to the lower buy zone of the trend channel. We printed a bearish St* on the @ES daily and a spinning top type bar signaling some indecision by the market. However i still see strength in the background. Going in to Wednesday we may get some consolidation as the market finds its short term direction. Also the Feds Bernake Speaks at 2:00 so traders may not be active waiting to get some clarity.
The ES & Volume Profile has printed an elongated Profile after breaking out to the upside but closing on the lows, There were 2 VPOC at 1157.75 and 1183 The ES.D formed a p-Pattern after trading i n a tight range for most of the day with a VPOC of 1183-1184. Any test of the 1157 on low volume could mean more upside. Conversely if we test the 1183 area early we could see more selling.
TRADE OF THE DAY:
The TOD was a Delayed 15/5 Sync in a tight rang drifter, The trade eventually became a AAA 45/15/5 Confluence. This was a 710-715 Reversal Set up that had strength in the background. The Best entry was 1178-1180. Price rallyied to 1187 over the next 55 minutes.
HOW I DID TODAY:
TRADE SELECTION - Good, they all were justifiably Qualified.
ENTRY'S - Ok, I tend to enter too early, the placement is OK but i take heat so they could be better..
EXITS - Must do better, I held for Max Loss 2x's on a qualified Trade. But got a max + target hit. I feel great about the last trade I stayed with it and Read VSA to the Exit. Held for 50 minutes
NERVES - Very Very Good, not an issue, felt Demo like.
Market Focus & Action: Very Good. I was focused on VSA
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.
Don't get caught REACTING to the PRICE on the tape. The Focus should be on the volume on the tape particularly when approaching the target to read the likely hood of an extended breakout or stalling
ENTRY'S - Ok, I tend to enter too early, the placement is OK but i take heat so they could be better..
EXITS - Must do better, I held for Max Loss 2x's on a qualified Trade. But got a max + target hit. I feel great about the last trade I stayed with it and Read VSA to the Exit. Held for 50 minutes
NERVES - Very Very Good, not an issue, felt Demo like.
Market Focus & Action: Very Good. I was focused on VSA
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.
Don't get caught REACTING to the PRICE on the tape. The Focus should be on the volume on the tape particularly when approaching the target to read the likely hood of an extended breakout or stalling
INTANGIBLE OBSERVATIONS:
Avoid Open Ice when we Get Super tight Range Drifters in the Globex and pre-open, particularly after a Ultra Large Gap. today was 20+ points. There were also NoD's at the highs. (Notice the Open Bar had Divergence on it as well but price needed to correct, this caught my stop before rallying back to my target)
When I Take PB and Eot's on the 4500 and 1500 tick. Dont wait for BB mid violation. especially after rallies and sell offs.
When I Take PB and Eot's on the 4500 and 1500 tick. Dont wait for BB mid violation. especially after rallies and sell offs.