Today we Gap Up 12pts after showing strength in the 15M close. That Strength played out in the Globex session moving prices to test the 1220 level. We opened moving INTO the weak highs from globex. 15M resistance held with Blocks on the 1st time interval starting the morning spike to the downside.
Daily Trade Review
Recap Notes:
Trade Selection - Pretty Good Trade Selection Today, I had a mix of 15 & 13 Open Ice that didnt get much pop. The reason was because I entered into Resistance which is one of my avoid signal so im glad this trade turned out scratch. I held for more than 15 minutes before we got a small pop for me to exit into. We Then printed a Cycle Resistance on the 15m and sold off on the 1st Time Interval on a Wide Range Block Bar.
The TOD was a C(500 trend reentry) But this trade had Blocks Distribution on the 15m printing NoD on the same bar, Weakness showed up on the 4500 as PB in trend and the 5M as a Pb in trend, I held for 50 minutes scaling in at a higher false breakout and exiting at a solid price. No regrets.
4 Sequences in all
Today's 15m Close: Strength. High volume bars closing down with blocks closing up slightly.
Accumulation Range: Intraday Session: Blocks @ 1209-1211
Globex: None
Distribution Range: Intraday: 1212-1214.25
Globex: None
Today's $TICK Close:
The Daily's
Dow - Weakness. Closed Up on higher but still low volume but just off the highs approaching a cycle Resistance. Printed NoD
ES.D - Short Term Weakness. Showing possible selling into the cycle R @ 1261 area. The 135 is approaching trend resistance but has cycle support behind it. Also approaching Cycle Resistance.
Internals - Weakness. GE closed up on a wide spread bar breaking an old top but closing off the highs entering a cycle R point. BAC showing possible strength closed up but near the lows with Bull Divergence on the previous day.
INTANGIBLE OBSERVATIONS:
Take Advantage of Falling Thru the Ice Sequence - This isusually good for a few points and sets up often. The criteria is simple and obvious. Study myRanked Sequences page
Fading Time Intervals - Be aware of the Time Interval and wether there is Support or Resistance at the peaks or lows, These trades can be held to the next TI.
Follow your progressions for each Time Interval - Look for your open Ice trades 1st, then for cycle syncs in the 90 grind, Then Liquid Trades in the pre-9zone.
THE KEY IS CUTTING THE LOSSES SHORT, ESPECIALLY ON MULTIPLE LOTS. Simply stick to your bail point.
ONLY TAKE LIQUID TRADES AFTER THE 7zone - Liquid Trades are better after the 7zone!!! had i taken the usual 13 open Ice we would have max target.