Yesterday's Power On Close = Weakness
Today's Open = Open @ 1195.50 GAP Dn (1.25 pts)
Result = DN Continuation till 1st Ti. Reverse to Uptrend
Result = DN Continuation till 1st Ti. Reverse to Uptrend
Today's TREND = Up Trend
Today's 15 Minute Close Bar =UP @ 1223.00
Today's Power On Close = Weakness
Today's Power On Close = Weakness
Daily Volume = 3.0Above Avg Volume (Blocks on uptick)
Today's $TICK close =
R1 1200 R2 1204 R3 1207-08 R4 1216
S1 1192(Globex) S2 1185 S3 1 S4 1
Daily Market Bias For Tomorrow =
Daily's are showing some signs of Weakness. The ES closed up On Block Volume at Resistance. Rejection around this level could lead to a selloff. The Dow made a rally to yestardays highs but failed to crack it. Rejection of these highs on high volume could also be Bearish.
The ES.D Volume Profile has printed a range extension pattern, trending up on the day. The ES printed a b-pattern indicating bullish potential for tomarrow, the VPOC was 1192 put in the Globex session.
The ES.D Volume Profile has printed a range extension pattern, trending up on the day. The ES printed a b-pattern indicating bullish potential for tomarrow, the VPOC was 1192 put in the Globex session.
TRADE OF THE DAY:
There Was B (BBMB) With Strength in the Background. The Trade setup after Globex strength and Opening Strength appeared to the left on the 4500 and 1500 tick. Price was choppy around midline, then testing the lows but crossing and breaking with Strength. An entry at 1190.5 saw a rally to 1202 before probars and divergence showed up on the higher time frames.
(Notice the Background Strength as price chops the midline. The arrow shows price testing the lows(supply). Essentially a NoS Set up) dont get caught up on the BB look for VSA 1st. This would have enabled me to trade with the background.)
HOW I DID TODAY:
TRADE SELECTION - ok, 1 unqualified entry
ENTRY'S - good 1 unqualified but no hesitation.
EXITS - Poor, I failed to hold for Target on 3 trades. 1 was less than minimal.
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 - good 1 unqualified but no hesitation.
EXITS - Poor, I failed to hold for Target on 3 trades. 1 was less than minimal.
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:
On Choppy action, REVERT TO THE BACKGROUND!! This will help to direct your entry. ALWAYS Qualify the Background before the sequence. Today price chopped thru the midline while testing supply, very obvious if Background Strength is taken into account.
On Mornings after trend days look for cycle support on the 4500/13,500. If it appears This will be very strong indication of Strength!!
On 10:00 trades against the trend Dont be greedy.
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.
On Mornings after trend days look for cycle support on the 4500/13,500. If it appears This will be very strong indication of Strength!!
On 10:00 trades against the trend Dont be greedy.
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.