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.