Today we Gap Up 6.5pts Bounced on Globex momentum and reversed till the 1st Time Interval, We Bounce from there to the 7zone where price reversed again moving lower till midday.
Daily Trade Review
Recap Notes:
Trade Selection - Pretty Good Trade Selection i just need to sure up my timing on the exits, my 13 open ice came within 1 tick of target and reversed to take out my add-on at max. subsequent entry's provided opportunities to take 3+ pts but i was only able to catch 1. I placed multiple trades during the 90 grind exiting on scratches and some losses but i spent most the time battling back from the early max. Im getting into a rythm for solide entries but just need to sure the exits. 7 trades during 90 Grind.
Today's 15m Close: Strength. High volume bars closing down with blocks closing up slightly.
Accumulation Range: Intraday Session: Blocks @ 1202-1206.50
Globex: None
Distribution Range: Intraday: None 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:
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.