Yesterday's Power On Close = Strength
Today's Open = Open @ 1140.75 GAP Dn (9.75pts)
Result = Early Selling into 7bar reversal
Result = Early Selling into 7bar reversal
Today's TREND = Early Selling into 7bar reversal
Today's 15 Minute Close Bar =UP @ 1158.
Today's Power On Close = Weakness
Today's Power On Close = Weakness
Daily Volume = 3.08M Volume
Today's $TICK close = 73
R1 1164.(Globex) R2 1166 R3 1174 R4 1189
S1 1157.(Globex) S2 1148. S3 1140-1142.50 S4 1136
Daily Market Bias For Tomorrow =
-1.071 Moderate Bear
Daily's are showing some signs of Strength. The ES closed Up again on Block Volume to close on the highs after trending for most of the day. ES has re-entered the lower quadrant of the trend channel closing at the exact high for last thursday open. We also printed a Flush Signal on fridays PT type bar and currently printing a cycle Support. All this is bullish with Strength on the 135 printing Exhaustion but is running into a Cycle Resistance, the 40,500 has printed 3 probars rallying from a PB in trend and is Also printing a Cycle resistance. but would like to see a test of the 1138 in the globex session to be sure the supply has been taken out. If Not we could see a tight range drifter possibly heading for the 1200 level.
The ES & Volume Profile has printed a symetrical Profile after breaking out to the upside and closing on the highs, The VPOC was 1136.75. The ES.D formed a b-Pattern with a VPOC of 1136-1140.25. I want to see a test of the 1140 level to confirm the next upside leg. could happen fast.
TRADE OF THE DAY:
The TOD was a Triple Crown w/Jewels that had divergence on the approach with 1500 and 500 in sync (Triple Crown). The 1500 had divergence at the peak and the 500 had Exhaustion on the peak. This a Discretionary AAA trade that pops the eyes out. A good entry was at 1131-1132. Price moved lower to 1124 before probars and rambos showed up, an exit here was good for 7-8 points.
HOW I DID TODAY:
TRADE SELECTION - Not bad but could be better. forced some trades with revenge pressure after the early ice breaker that went horribly wrong. But regrouped and did well to end on a high note.
ENTRY'S - good overall, but I Screwed up the ice breaker and exited too early on too many good trades.
EXITS - Must do better, I held for Max Loss on an Unqualified Trade. But got 2 max target hit, but should have had 4.
NERVES - Very Good, not a real issue.
Market Focus & Action: I froze when the ice breaker moved against me my first reaction was to reverse but i couldnt, so i tried to drag my stop down at which point it was accedentally canceled as the market blasted thru, so I tried to stay calm and manage it back but was unsuccessful, the market moved 12 points away in 15 minutes. I had 2 lots on by mistake and this became the worst trading disaster all year. The rest of the Trades i made were not too bad. I did have some pressure to recoup but if not for the mistake My day would have been good.
WHAT I CAN DO BETTER:
WORK ON THE EXITS!- my exits were no better than the prior week, I need to readjust my mentality to treat this more like a demo. Care free but Careful.
Manage the trades better be more alert, Had a poor reaction to a bad Mistake, must be very careful about the order manipulation.
SOLUTIONS:
TRUST MY ANALYSIS - The reason for entry should have at least 4pts as an intangible target.
Dont 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 - good overall, but I Screwed up the ice breaker and exited too early on too many good trades.
EXITS - Must do better, I held for Max Loss on an Unqualified Trade. But got 2 max target hit, but should have had 4.
NERVES - Very Good, not a real issue.
Market Focus & Action: I froze when the ice breaker moved against me my first reaction was to reverse but i couldnt, so i tried to drag my stop down at which point it was accedentally canceled as the market blasted thru, so I tried to stay calm and manage it back but was unsuccessful, the market moved 12 points away in 15 minutes. I had 2 lots on by mistake and this became the worst trading disaster all year. The rest of the Trades i made were not too bad. I did have some pressure to recoup but if not for the mistake My day would have been good.
WHAT I CAN DO BETTER:
WORK ON THE EXITS!- my exits were no better than the prior week, I need to readjust my mentality to treat this more like a demo. Care free but Careful.
Manage the trades better be more alert, Had a poor reaction to a bad Mistake, must be very careful about the order manipulation.
SOLUTIONS:
TRUST MY ANALYSIS - The reason for entry should have at least 4pts as an intangible target.
Dont 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:
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.
Yesterday's Power On Close = Strength
Today's Open = Open @ 1114.75 GAP Dn (10pts)
Result = Open Bounce & early reversal into down trend
Result = Open Bounce & early reversal into down trend
Today's TREND = Open Bounce & early reversal into down trend.
Today's 15 Minute Close Bar =UP @ 1130.75
Today's Power On Close = Weakness
Today's Power On Close = Weakness
Daily Volume = 3.34M Volume
Today's $TICK close = 195
R1 1138.25.(Globex) R2 1141 R3 1148 R4 1157
S1 1123.(Globex) S2 1118. S3 1106.75 S4 1100
Daily Market Bias For Tomorrow =
-357 Moderate Range
Daily's are showing some signs of Strength. The ES closed Up on Block Volume after trading in a wide rang all day, after finding the low price closed up 6pts but failed to crack the 1140 level. Going foreword we may be in for a Break out, possibly to the down side as the Volume Profile indicates Long Liquidation in a very Fat P-Pattern. A break below today low could spell 1100 or even 1060. Conversely a break above todays high may see testing of 1150, 1170 and 1200.
The ES.D & Volume Profile has printed a very fat tight range symetrical Profile which could indicate the potential for another break out day. The ES.D VPOC was 1126.50. The @ES formed a P-Pattern with a VPOC of 1131.50. Down side break out could be next weeks theme.
TRADE OF THE DAY:
The TOD was a EOT on the 1500 cycle w/probar that had divergence on the approach and Nod on the 13,500 at Pivot support, this setup at the 1st 7bar, a key daily reversal Time Interval. The Best entry was near 1125.75-1126. the trade rallied to the 1144.00 before stalling on Exhaustion.
HOW I DID TODAY:
TRADE SELECTION - All Qualified
ENTRY'S - good, but I need more experience with the tripple crown setup.
EXITS - Not Bad, got 1 max target and 1 max stop that I dont regret.
Market Focus & Action: I Read VSA and focused pretty well. I did take action for the most part were it was needed. but can do better.
WHAT I CAN DO BETTER:
WORK ON THE EXITS!- Keep working on the Exits and Reading VSA. This builds confidence and understanding.
SOLUTIONS:
TRUST MY ANALYSIS - The reason for entry should have at least 4pts as an intangible target.
Dont 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:
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.