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.
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.