Yesterday's Power On Close = Strength
Today's Open = Open @ 1207 GAP Up (3.5pts)
Result = Dn trend to 7 bar reversal into up trend.
Result = Dn trend to 7 bar reversal into up trend.
Today's TREND = Dn trend to 7 bar reversal into up trend.
Today's 15 Minute Close Bar =UP @ 1204.75
Today's Power On Close = Weakness
Today's Power On Close = Weakness
Daily Volume = 2.6M Volume
Today's $TICK close = 329
R1 1204.(Globex) R2 1204-1205.75 R3 1215 R4
S1 1194.5(Globex) S21188 S3 1188 S4 1175.5
Daily Market Bias For Tomorrow =
0.375 Moderate Range
Daily's are showing some signs of Weaksness. The ES closed up for the 5th consecutive day after a climbing on tighter range bars. We are Now kissing the 1/2 mark of the Trend Channel and have crack the 1200 level. However there is considerable weakness at these level as we printed a narrow range up bar on low volume on Friday. We are due for a correction and this week we may see a test of Support around 1140-1150. No surprise if we get some tight range drifter days or consolidation around the 1140-1150 Support.
The ES.D Volume Profile has printed a tighter range symmetrical profile with Value peaking from 1206-1207, The Profile Width Signals a Breakout of this range possibly into a down trend. What Price get tested first? 1204 or 1188. We opened in after market trading at 1199 and traded down to 1191. Will have a close eye on the pre-open activity.
TRADE OF THE DAY:
Today was a 13 Open Ice break 1S1K. The globes session and pre-open had strong momentum and price stayed in upper BB channel. The entry at 1208.25 saw a limit near the peak.
13 Open Ice
4500 Upper BB channel on ice breaker (upper BB Momentum)
13 Open Ice
4500 Upper BB channel on ice breaker (upper BB Momentum)
WHAT I DONE BETTER:
TRADE SELECTION - Good trade selection, All qualified .
ENTRY'S -Good but not great
EXITS - Must do better, my first trade had a good exit but the rest were no goo particularly a reversal that gave me heat. I sat thru the heat then decided to tight my stop becuase "I refuse to let this trade go against me" I was reacting to the previous trade that max stopped me out.
NERVES - Pretty good, except on the last trade, it was too good to be true, everything lined up perfectly but i felt anxious, and the time was 10:20 (bad time) see Daily Trade Review (Weekly Close Report)
WHAT I CAN DO BETTER:
Manage the trades better, listen to market and honor my heat markets, but at the same time dont be too eager to exit a trade that is working, even after it has givin you heat.
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 but not great
EXITS - Must do better, my first trade had a good exit but the rest were no goo particularly a reversal that gave me heat. I sat thru the heat then decided to tight my stop becuase "I refuse to let this trade go against me" I was reacting to the previous trade that max stopped me out.
NERVES - Pretty good, except on the last trade, it was too good to be true, everything lined up perfectly but i felt anxious, and the time was 10:20 (bad time) see Daily Trade Review (Weekly Close Report)
WHAT I CAN DO BETTER:
Manage the trades better, listen to market and honor my heat markets, but at the same time dont be too eager to exit a trade that is working, even after it has givin you heat.
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:
Dont TRADE AFTER 8:00!! Only BB reversal can be entered and be ready to hold for a while.
Be aware of the time of day.
On BB reversals be aware of the Wide bar closes, it may best to try to enter at the test line or PASS on the TRADE. The wide bar can squeeze your heat zone and increase your Risk of stopping out.
DON'T JUSTIFY UNQUALIFIED ENTRIES!! This will lead to poor trade selections.
Be aware of the time of day.
On BB reversals be aware of the Wide bar closes, it may best to try to enter at the test line or PASS on the TRADE. The wide bar can squeeze your heat zone and increase your Risk of stopping out.
DON'T JUSTIFY UNQUALIFIED ENTRIES!! This will lead to poor trade selections.