7.75pt Gap Down = Early Reversal to fill the gap

Today we had a 7.75pt Gap down and traded lower on the open to 1353 then reversed to rally into the 1563 area on the 3rd time Interval.

Recap Notes:

Technical difficulty with video

Trade Selection - Good, started rough taking poor trade against the developing trend, but was able to cut and reverse on 2 lots hitting my target one and just short of target on the 2nd.

INTANGIBLE OBSERVATIONS:

Trading the premise is key, sometimes the campaign ignores all signals- today we had mixed signals but the long campaign after the early selloff was persistent nullifying most indicators. 


A rally thru all Ti's then a break above the 8:00 bar signal higher prices on the day and possibly a hold till the close

-2pt Continuation Gap =Consolidation all morning and a test of the lows.

Today we had a 2pt Gap down and traded in a solid range for the whole morning past the 3rd time interval, then we tested the lows of 1353 prior to the 9zone where we got a 4pt rally to let me out of a long

Recap Notes:

Trade Selection - Ok, but i missed some solid opportunities to take profit and had to sit thru major retracement. But i was able to manage risk with size at reasonable distances and was able to book goal +1.

INTANGIBLE OBSERVATIONS:

Take your time with the open try to Identify the Day Early- today we traded sideways all morning even after news release and i still was hoping for a trend day??? Mistake that kept me in a long position for 4+ hours. I should have taken profits early had i recognized the day type.

Managing Risk with size - This is an extreme defensive decision and not preferred. However this prevents large draws IF each additional entry is properly spaced from the original. (ie. 2+pt away from 1st entry and signaling reversal or turning)

5.75 Gap Up into New Highs + choppy open = Tight Range Drifter

Today we had a 5.75 Gap Up into New High on the open but met with rejection early. We had a choppy open and a tight range drifting move lower into the 8:00 bar. 

Recap Notes:

probes and scratches so nothing to see today. Off to Enjoy the Weekend.

Trade Selection - Ok, There was alote of mixed signals and i couldnt get a good handle due to the tight range and slow drifting action, so i scratched on 3 probes and shut it down early.

INTANGIBLE OBSERVATIONS:

Shutting down early on tight range drifting days - Today the range seems to shrink and we had many mix signals my entry failed to move so cut out early for the day.

Late News days generally have choppy opens - Today we had a choppy open but the range was such that there were still good opportunities but you need to WAIT!! and be patient.

Be aware of the 1st PB In trend on the 1500 tick - I noticed over the past weeks that this setup usually plays out nicely at least to the next Time Interval for 4pts or more. It often sync with the 45 BB Midline or 0 Line on the $tick.

1.00 Gap Dn into Strength + High Time Frame Cycle Support = Early Rally

Today we had a 1.00pt Gap Dn into Strength, The Higher time Frames printed Cycle Support including the 30M Volume Profile, 135M, 40500 Tick and the Daily closed down into Support on High Volume. The Pre Open had momentum to the long side signalling a 13 Open Ice along with 7:00 News Release Creating a high probability Rally. A final push down into the 8:00 bar with 15/5 cycle support thrusted prices 7+pts from 1344.50 into 1352.50 area prior to 9:15.

Recap Notes:

Trade Selection - Great 1S1K off the 13 Open Ice, I added on at perfect prices and was able to assess the probability of the News Release response. This helped me to take advantage of the move and maximize the profit. Excellent!!!

INTANGIBLE OBSERVATIONS:

Late News days generally have choppy opens - Today we had a choppy open but the range was such that there were still good opportunities but you need to WAIT!! and be patient.

Be aware of the 1st PB In trend on the 1500 tick - I noticed over the past weeks that this setup usually plays out nicely at least to the next Time Interval for 4pts or more. It often sync with the 45 BB Midline or 0 Line on the $tick.