Yesterday's Power On Close = Weakness
Today's Open = Open @ 1172 GAP Up (7pts)
Result = Dn trend to 7 bar reversal into up trend.
Today's TREND = pre 7 bar reversal into strong up trend
Today's TREND = pre 7 bar reversal into strong up trend
Today's 15 Minute Close Bar =UP @ 1181.75
Today's Power On Close = Strength
Today's Power On Close = Strength
Daily Volume = 3.5M High Volume
Today's $TICK close = 329
R1 1185.50(Globex) R2 1188.25 R31192 R4 1196
S1 1177-78(Globex) S21172-73 S3 1167-68 S4 1163-1160
Daily Market Bias For Tomorrow =
0.929 Modest/Moderate Bull
Daily's are showing some signs of Weakness. The ES closed up but off the highs on block volume signaling potential sellers at the Trend channel half line. Today we printed a Cycle Support on the ES.D and a EOT on the ES 1440. A test of today's high seems apparent after breaking above the 1170 Resistance. If price retest the 1170 In Globex on low volume and reverse we could see a rally back to the days high around 1196 level or even 1200. Conversely If Price test today's highs in the globex session and fail we could see a move lower early.
The ES.D Volume Profile has printed a strong trending profile with a VPOC at 1170 after testing the 1151 lows and finding value at the higher 1180-1184 area after testing the 1196 level.
The ES.D Volume Profile has printed a strong trending profile with a VPOC at 1170 after testing the 1151 lows and finding value at the higher 1180-1184 area after testing the 1196 level.
TRADE OF THE DAY:
Today was a 15/5 that failed at the 4500 Failed Support / New Resistance level. This also happened to be the BB mid with No demand bar in back and multiple probar cluster retest after breaking below. There was NO probars on the 1500 but we had rambos and probars on the 500. The best entry was around the 1169-1167 area. From this point price ran 9 points to 1159 before 1500 probars showed up and continued to 1156 before stalling.
WHAT I DONE BETTER:
TRADE SELECTION - good trades no regrets. took a 1500 Cycle A, a B BBMBB and aAA 15/5 Sync.
ENTRY'S -Much better, good to qualify entries.
EXITS - Pretty good but could be better. Blew one by closing out at a loss too quickly, Did not honor my Heat Marker and price reversed and ran for few points.
NERVES - Good on 2 but felt anxiety on the best Trade of the Day.
WHAT I CAN DO BETTER:
honor my Heat Markers!!!
SOLUTIONS:
Be very Alert for Heavy signs of Stalling. (ie.4500 Probars at peaks/Lows)
Trust my trades and have confidence in my ability.
Keep with the visualizations and focus.
ENTRY'S -Much better, good to qualify entries.
EXITS - Pretty good but could be better. Blew one by closing out at a loss too quickly, Did not honor my Heat Marker and price reversed and ran for few points.
NERVES - Good on 2 but felt anxiety on the best Trade of the Day.
WHAT I CAN DO BETTER:
honor my Heat Markers!!!
SOLUTIONS:
Be very Alert for Heavy signs of Stalling. (ie.4500 Probars at peaks/Lows)
Trust my trades and have confidence in my ability.
Keep with the visualizations and focus.
INTANGIBLE OBSERVATIONS:
Use Cheat Entry's more often, wait for price to touch my entry then place limit to enter on the rebound for a better price. It all adds up.
Keep an eye on price crossing the midline in the globex session and pre-open. If it crosses multiple times is globex then look for an early cross / reversal.
Focus on Qualifying Setups to remove anxiety.
If i feel Anxiety while qualifying a setup PASS ON IT!!
I should feel confident and EXCITED about the setup and entry.
When I am deep into profit (3+pts) and i notice a reversal it may be better to use a market order to Bail quickly as opposed to chasing with an Limit. The Limits are great but for bailing you may lose some pts while trying to get filled.
Keep an eye on price crossing the midline in the globex session and pre-open. If it crosses multiple times is globex then look for an early cross / reversal.
Focus on Qualifying Setups to remove anxiety.
If i feel Anxiety while qualifying a setup PASS ON IT!!
I should feel confident and EXCITED about the setup and entry.
When I am deep into profit (3+pts) and i notice a reversal it may be better to use a market order to Bail quickly as opposed to chasing with an Limit. The Limits are great but for bailing you may lose some pts while trying to get filled.