Today we Gap Up 4.75 and ran into Resistance on the 15M where we flagged till the 7zon and Fail thru the Ice @ 1214.00.Price put in lows @ 1202 and bounced in a tight range to the 9zone. We eventually closed down just off the lows.
Daily Trade Review
Recap Notes:
Trade Selection - Not Bad. My 1st sequence was ok had good reason for entry but i overstayed my welcome. The trade moved into profit asap and stayed for the bulk of the time. I should have bailed after the 2nd attempt to crack 1218.50 and Rambos and probars showed up on the 500 tick. I tried this setup for a 2nd time with the same results, No pop. So my 3rd Sequence was short on a Falling thru the ice sequence that setup all morning and finally broke down to the 1202 low. 4th was a solid c(500) that move quickly into profit. Remember to stay focused and poised and you can always recoups Draws.
5 total sequences
5 total sequences
Today's 15m Close: Strength. High volume bars closing down off Support, Blocks off lows forming hammer with EOT on the 4500.
Accumulation Range: Intraday Session: 1195-1198
Globex: None
Distribution Range: Intraday: None
Globex: None
Today's $TICK Close: -647
INTANGIBLE OBSERVATIONS:
Tripple Crown May be too good to be true - When price makes a triple crown be weary if we dont get a swift move right away. This may be due to the opposite cycles from the past still holding, so look for delayed cycles S/R that may be present.