Wednesday, February 8, 2012

0.75 Gap Dn = Continuation of Prior days Trend

Today we had a less than 1pt gap Dn signaling a possible continuation of the prior days Trend. This proved to be correct for the morning heading into the 2nd Time Interval where we printed EOT's on the 4500 and 500 tick.
Recap Notes: **Very Poor Audio Today**Had to cut the video short**
Trade Selection - 1S1K Good trade was able to hold for solid exit on all positions. 1 Sequence.

INTANGIBLE OBSERVATIONS:
Establish the Premise and stick to it unless clearly broken- Today i used the concept of effort with No results as noted on the video, the 1500 tick showed multiple probars at the pre-open peak but a small retrace afterwards, although price eventually moved lower there was No pro bars on the way down thus indicating that we may get an early reversal.