Yesterday's Power On Close = Weakness
Today's Open = Open @ 1214.50 GAP Dn (6.25 pts)
Result = Down Trend Continuation
Result = Down Trend Continuation
Today's TREND = Down Trend Continuation
Today's 15 Minute Close Bar =UP @ 1194.00
Today's Power On Close = Weakness
Today's Power On Close = Weakness
Daily Volume = 2.3M Average Volume
Today's $TICK close = +409
R1 1200 R2 1204 R3 1207-08 R4 1216
S1 1192(Globex) S2 1185 S3 1 S4 1
Daily Market Bias For Tomorrow =
-1 Moderate/Strong Bear
Daily's are showing some signs of Weakness. The ES closed Down on Block Volume after peaking above the recent highs. This could be an Upthrust with Hidden Volume after a Divergence signal at the highs. The Down move looks too obvious and Price has yet to break down after the week old cycle resistance prints. The Dow sold off on very Low volume after the bull candle on Friday. I would not be surprise if we get a high volume rally to the upside in a day or so.
The ES.D Volume Profile has printed a b-pattern of sorts that found value at 1202-1198. We saw a range expansion of price indicative of Long Liquidation from the Pre-open. The VPOC is 1190 then 1196. The ES profile printed a p-pattern with most the value area . VPOC of 1198 with a fairly wide symmetry. Early testing will be the key in determining direction for the weekly close.
The ES.D Volume Profile has printed a b-pattern of sorts that found value at 1202-1198. We saw a range expansion of price indicative of Long Liquidation from the Pre-open. The VPOC is 1190 then 1196. The ES profile printed a p-pattern with most the value area . VPOC of 1198 with a fairly wide symmetry. Early testing will be the key in determining direction for the weekly close.
TRADE OF THE DAY:
There Was 1S1K on a 15/5 sync in trend. Spotted a Strong Down Trend from Globex and Pre open on the 4500 tick.
I waited for a PB in trend on the 1500 Tick that showed DIVERGENCE. When this occured the 500 tick was also printing DIVERGENCE at a cyclical resistance. This action took place at 1st Time Interval. I entered short on a probar break @ 1214 and Held for max target which took 10 minutes. Exited @ 1210. Exhuastion printed on 1500 a few bars after exit. (Stronge Down Trend From the Globex, sync with the 1500 and 500 ticks)
I waited for a PB in trend on the 1500 Tick that showed DIVERGENCE. When this occured the 500 tick was also printing DIVERGENCE at a cyclical resistance. This action took place at 1st Time Interval. I entered short on a probar break @ 1214 and Held for max target which took 10 minutes. Exited @ 1210. Exhuastion printed on 1500 a few bars after exit. (Stronge Down Trend From the Globex, sync with the 1500 and 500 ticks)
HOW I DID TODAY:
TRADE SELECTION - Great, waited for high Ranked sequence
ENTRY'S - Perfect, probar break and confirmation
EXITS - Perfect, Held for Target.
Self Talk/Mind Chatter: Good, No negativity.
Market Focus & Action: Good, Stayed focused on the Tape as price broke into new grounds. I Held for Max Target as tape had a rapid move past the low indicating more activity to come
WHAT I CAN DO BETTER:
Honor the Rules-Honor the Rules, regardless of what else I do. Be sure to Qualify trades thoroughly.
SOLUTIONS:
Restate and List the Basic Rules - Keep reminders of the basic rules and study them as well as the qualifying criteria for each entry. This is play book 101. Respect and Honer the Rules.
ENTRY'S - Perfect, probar break and confirmation
EXITS - Perfect, Held for Target.
Self Talk/Mind Chatter: Good, No negativity.
Market Focus & Action: Good, Stayed focused on the Tape as price broke into new grounds. I Held for Max Target as tape had a rapid move past the low indicating more activity to come
WHAT I CAN DO BETTER:
Honor the Rules-Honor the Rules, regardless of what else I do. Be sure to Qualify trades thoroughly.
SOLUTIONS:
Restate and List the Basic Rules - Keep reminders of the basic rules and study them as well as the qualifying criteria for each entry. This is play book 101. Respect and Honer the Rules.
INTANGIBLE OBSERVATIONS:
Stick with Basic High Probability Trades Such As: 15/5 sync in Trend. When we get a strong trend Look for DIVERGENCE on the 1500 and 500 and cycle S/R in trend. This is a HP trade sequence.
When Reading the Tape: Rapid mark Up/Dn through Hi/Lo is of 1pt or more is an indication of even more activity above/below extremes.
Be sure to Never Take a Reversal Trade unless we get More than Exhaustion signals on the 1500 or Higher Time Frame.
Never Take an Ice Breaker that needs to break into new territory before hitting target.
When Reading the Tape: Rapid mark Up/Dn through Hi/Lo is of 1pt or more is an indication of even more activity above/below extremes.
Be sure to Never Take a Reversal Trade unless we get More than Exhaustion signals on the 1500 or Higher Time Frame.
Never Take an Ice Breaker that needs to break into new territory before hitting target.