32pt Gap Up+Range Drifter = Bull Flag & Break out on the close

Today we Gap Up 32pts Drifter higher peaking at the 8:00 Time Interval, we then sold off slightly in the 9 zone and rallied again prior to the 12 zone. Globex Session will be very interesting.

My Daily Trade Video here. 

Recap Notes:

Trade Selection - OK - 2 Unqualified trades to open made it tough BUT I was persistent and focused and managed to pull just short of Goal profits on the day. 4 Sequences total.

Today's 15m Close: Weakness. High volume wide spread Up Block at highs closing @1244.50. Block appeared on ALL High Frames

Accumulation Range: Blocks @ 1230-1235 13,500t/45t/15m/5m

Distribution Range: Block Volume at 1244-1247. on ALL High Frames. Multiple Exhaustion at 4500 & 5m Close.

Today's $TICK Close: +758

The Daily's

Dow - Weakness. Up 4.24% Wide Spread Ultra High Volume Up bar closing up, Blocks at highs. @1224-1227

ES.D - Weakness. Gaped up 32 pt and rallied into trendline. Wide Spread High Volume bar into 135 Resistance. Failure at the 1147 could lead to a test of 1230. Consolidation on Thurs could be a signal for a break into higher highs on friday.

Internals - Strength BAC and GE are showing strength printing High Volume hammer type up bars that tested lows.

INTANGIBLE OBSERVATIONS:

AVOIDING FOMC & Open Ice Trades - Always be aware of the day. Today was FOMC day and thus Ice trades should have been avoided.

Trust Your 1st Mind & Take Action - I had multiple opportunities to exit and/or revers on the Open Ice. instead held too long and got cut out

36pt Gap Up + Pre-Open Trend = 1S1K Range Drifter Early

Today we Gap Up 36pts. Rallied to the Globex Highs on High Volume @ 1190.25 and drifted past the 1st Time Interval. We then reversed  with a double top and traded lower till the close. It Appears that the specialist will try to create some demand over the next few days. We may see more irrational strength prior to moving further to the downside.

My Daily Trade Video here.

Recap Notes:

Trade Selection - Great Trade 1S1K Done Early. I entered a 1,500 Open Ice in trend with a $Tick Bounce. We had Block volume in the pre-open that broken on probars to the upside, Crossing the creek on high volume prior to the open, so any solid pullback with probars on the extreme was a Go!!.

Today's 15m Close: Weakness. High volume wide spread Up Probar closing @1191.50. Near Block Volume lows. We bounced just prior to the 1180 Gap area?

Accumulation Range: Blocks @ 1182-1186 45/5m/13

Distribution Range: Block Volume at 1193.25-1195.25 on ALL High Frames. Multiple Exhaustion at 4500 & 5m Close

Today's $TICK Close: - 20

The Daily's
Dow - Weakness. High Volume Up bar closing up after a Rambo. We are headed for an old S/R @ 11,6300.  
ES - Weakness. Gapped up with an ST* signaling a potential reversal, however We are at cycle support after printing Rambos. We must see a test of 1180 Gap area
Internals - Strength BAC and GE are showing strength printing High Volume Down Bars closing on the lows. This too after printing Rambos.

INTANGIBLE OBSERVATIONS:

When old S/R sync with New PB in trend with pro bars this is a strong support and a good entry point.


1500 Open Ice
Notice old Resistance becomes New Support Combined with current Cycle support coming in as a PB in trend with probars and Exhaustion = High Probability Sequence.

On Continuation Gaps - Use the Prior Days 15 minute closing premise for Open Ice Momentum Signal, when the Previous Days Close shows signs of Strength and the Open is a Continuation Gap Then we trust the prior days Closing Premise ONLY for the Open Ice. 3pts or less. See Related Links: After Market Gaps & 15m Chart

2pt Gap Dn = Continuation of Consolidation Range

Today we Gap Dn 2pts. Rallied to the Resistance High @ 1194 (Globex VPOC) then reversed on a 15m Cycle R syncing with the 4500 to send prices lower spiking on the 7zone. At the lows of 1180 We saw Block Bar Accumulation Every Time Frame around 9:00 Fueling a Rally of 20pts top to bottom.

My Daily Trade Video here. Skip to 5:37 to see my Trade for the day

Recap Notes:

Trade Selection - Great Trade 1S1K Done Early. I entered a 13,500 Open Bar Break in the most current Pre-Open Momentum. Not a huge amount of Strength in Globex BUT when the Previous Days Close shows signs of Strength and the Open is a Continuation Gap Then we trust the prior days Closing Premise ONLY for the Open Ice.

Today's 15m Close: Weakness. Up Probar closing near lows off Resistance @1189 -1190 area, But Cycle Support has crossed

Accumulation Range: 1180-1185 Block Volume on ALL Frame 

Distribution Range: highs at 1195-1196

Today's $TICK Close: -410

The Daily Dow and ES are have yet to print the Cycle Support even though the sine has crossed, The Dow close down on very low volume as did the ES printing a NoS. The 135 is showing probars near the close as well. We could see more weakness in globex testing 1170 area. If we hold at 1180 then we could retest the 1194-95 zone.

INTANGIBLE OBSERVATIONS:

On Continuation Gaps - Use the Prior Days 15 minute closing premise for Open Ice Momentum Signal, when the Previous Days Close shows signs of Strength and the Open is a Continuation Gap Then we trust the prior days Closing Premise ONLY for the Open Ice. 3pts or less. See Related Links: After Market Gaps & 15m Chart

13,500 Tick View of Bar Break on Block Volume with Globex Vpoc support below.

 15 Minute Opening Continuation Gap Bar, Notice Prior Days Strength on close

 4500 Tick View of Pre-Open Cycle Support w/Probar and Exhaustion sending momentum Upwards..

Think Wholesale  - when entering a qualified trade with a liquid entry respect the break points and act on them quickly. The advantage of the wholesale entry is that it allows you to take SMALL LOSSES when a failure occurs and the Risk Reward is clearly defined and heavily weighted in our favor.

17pt Gap Dn + Pre-Open Weakness into Resistance = 1500 Open Ice 1S1K & Tight range drifter to 7zone

Today we Gap Dn 17pts. After Bouncing in the Globex session we hit cycle resistance in the pre-open while printing pro bar at the peak. we sold off early and continued to drift in tight choppy  ranges through the 7zone. 

My Daily Trade Video here

Recap Notes:

Trade Selection - Great Trade 1S1K Done Early. I entered a 1500 Open Ice off of Pre-Open weakness. The 4500 Printed a Probar at the peak into cycle resistance along with a 1500 probar print  with Exhaustion.

Today's 15m Close: Strength. Hammer, probar off Support @1187- 1190

Accumulation Range: 1206-1216 with Block Volume 

Distribution Range: Blocks @ highs from 1182-1191
Todays $TICK Close: +-582

The Daily Dow and ES are approaching cycle support on the Daily with saucer shapes turning on the 135. Internals showing some probars at the lows, narrow spreads. Strength appears to be stepping in but We must test the 1180 area again before I'm convinced.

INTANGIBLE OBSERVATIONS:

Tight Range Drifter - Be very careful trading drifters, ONLY trade the trend or stay on the sidelines. Especially if we nail an open ice, this is a good day to stop early.

Think Wholesale  - when entering a qualified trade with a liquid entry respect the break points and act on them quickly. The advantage of the wholesale entry is that it allows you to take SMALL LOSSES when a failure occurs and the Risk Reward is clearly defined and heavily weighted in our favor.

4.5 point Gap Up+Pre-Open Weakness = 1S1K 13&15 Open

Today we Gapped up slightly after What appears to be Accumulation Overnight, We tested the lows picking up more inventory near the 1214ish area then staged an intraday rally back up the the 1224-1230 before Distributing a bit at that level. Heading into Next week we could see a bounce back into the 1250-1260's before Distributing with shorts. 

My Daily Trade Video here

Recap Notes:

Trade Selection - Great Trades both qualified, took advantage of the same 13 Open Ice that setup yestarday on the pre-open. scaled in correctly and took profits with no regrets. 

2 Sequences entered during the 90 minute grind.

Today's 15m Close: DN probar off low@1206-1214,1216-1218

Accumulation Range: 1206-1216 with Block Volume 

Distribution Range: Blocks @ highs from 1217-1219

Todays $TICK Close: + 288

The Daily Dow and ES are now into Cycle Support on the weekly appears to be to turning down on a PB cycle resistance with Exhaustion. We fell thru a previous PB that is now Resistance in the same area. Block Volume appeared again at the 1215-1219 Distribution range on the 15 minute with a PB a down in trend. Although we appear to be headed back to the 1200 level I wouldn't be surprised if we picked up more inventory at the 1208-1210 range.

INTANGIBLE OBSERVATIONS:

Open Ice was good every day, it seems that The objections of the specialist follow a weekly campaign or goal, using very similar patterns in the globex session, pre-open and throughout the day as was the case this week. Be aware of the commonalities of the previous day in order to get into rhythm with the habits of the specialist.

Adding to your position - ONLY add to Qualified positions when I have clear cues and odds in my favor. Be very sure not to add to a trade moves away immediately. Taking loses on 1 lot wont hurt as much and you can hold to max if needed but adding to unqualified trades wont work. 

Think Wholesale  - when entering a qualified trade with a liquid entry respect the break points and act on them quickly. The advantage of the wholesale entry is that it allows you to take SMALL LOSSES when a failure occurs and the Risk Reward is clearly defined and heavily weighted in our favor.