Today we Gap Up 6pts and rallied into the Globex highs catching stops above 1224. We stalled after peaking and officially began a reversal during the 7zone and sold off for the day, and consolidating on the lows above 1210.
Daily Trade Review
Recap Notes:
Trade Selection - Ok, my selection was ok But I entered a bit early on the 1st sequence and had to hold for 2hrs to turn a small profit, had i held for another 30 minutes i could have maxed target. The Lesson Here is that when in the direction of the premise AFTER the 3rd Time Intervals restart counting the time in trade from there because it may take hours for the larger move to play out. Also if the reversal has begun prior to the 7zone, look for confirmation on the 2nd and 3rd Time Interval. My other entries were small scratches off liquid scalps. No Regrets. 4 Trades small gain.
Today's 15m Close: Strength. High volume bars closing down into Support, We remained above 1210.
Accumulation Range: Intraday Session: Blocks @ 1209-1211
Globex: None
Distribution Range: Intraday: 1221-1223.50
Globex: None
Today's $TICK Close: +162
INTANGIBLE OBSERVATIONS:
When in the direction of the premise AFTER the 3rd Time Intervals- restart counting the time in trade from there because it may take hours for the larger move to play out. Also if the reversal has begun prior to the 7zone, look for confirmation on the 2nd and 3rd Time Interval and be ready to hold till the 9zone.
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
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.