Today we opened lower by 7pts after testing the 1234 low and putting in a EOT in the Globex session. The pre-open momentum triggered a solid 13,500 Open Ice breaker. Upon exit we found Resistance at 1250 level and formed a PB in trend on the 15 minute then rallied to 1255 off EOT at the lows. Heading into tomorrow we could see early strength testing the peaks at 1262.
Today's trades video here
Recap Notes:
KPR: Block Volume at the peaks from 1258-1262 across All Time and Ticks charts.
Trade Selection - Great trade selection and patients. I entered an Open Ice off the 13,500 tick for a solid gain near a pro signal exit, I also had a great 45/5 support sync entry. The was not as obvious as a cycle sync because the bounce was off of old resistance that had become New support, typically a good place for pull backs.
Trade Selection - Great trade selection and patients. I entered an Open Ice off the 13,500 tick for a solid gain near a pro signal exit, I also had a great 45/5 support sync entry. The was not as obvious as a cycle sync because the bounce was off of old resistance that had become New support, typically a good place for pull backs.
2 Sequences entered during the 90 minute grind
INTANGIBLE OBSERVATIONS:
Note Tick divergenc that has price peaking BUT the $TICK lower near or at the 0 line. This can be a good clue of continued downside pressure. Vis versa for Longs.
Be Mindful of old S/R areas that are now new S/R area, these can make very good dirty sync entries especially after breaking into trend.
When entering Liquid sequences, note typical cues the trade is moving in favor prior to scaling in further. Price should move in favor fairly quickly without hesitation. ie price rejection at the entry price or very near it.
**Note** Wall Street Gang pg 241 para 3 The Specialist decision to avoid accumulation at key prices (round numbers) can mean only 1 thing. He is going Higher/lower - What this means is that one needs to observe how the specialist reacts around key price areas of High/Low volume and/or S/R round numbers. Gapping thru round numbers is often an indication that prices may head to the next round number prior to further reaction by the specialist. He uses gaps to avoid limit order and public involvement in his intended direction.
Be aware of Cycle Support and Resistance that syncs with Round numbers. These are great reaction points for Liquid Fades.