Today we had a 8.25 Gap Dn off pre-open momentum, we sold down to the 1386.50 to the 2nd and 3rd Time intervals before setting up for a midday reversal. We had Block Bars printing on the 15m, 4500 tick, and 130500 tick with EOT's printing also on the 13,45, 1500 and 5m. All very strong signs of Strength. We retested the lows on weak volume NoS bars which confirmed further strength.
Recap Notes:
Once Again Trading with a baby in my lap - Another Classic day with Lay Lay all in my mix !!
Trade Selection - Excellent trading, Excellent Entries and Excellent exits. I did well to hold the last lot for + Max. No need to hold till close under the circumstances so we take profit and give thanx.
INTANGIBLE OBSERVATIONS:
The Premise is the key - Today we sold off early but put in a Very Strong Premise Of Strength with Block Bars on the lows.
See chart below (Blue Arrows show Blocks Accumulating at the low)
15 Minute Strength with Blocks and No Supply bars
15 Minute Strength with Blocks and No Supply bars
Strength stepping in Blocks - Remember we are in a very strong market so this strength midday with a rally into the close is a Bullish for the longer term. The Globex seesion should give strong clues as to the buying or selling volume on the close.
In strong trending Days price usually closes in the top 75% of the Range - this has been the case on many occasion over the past few weeks as price moves into new highs. Try to hold 1 lot till close if the trend is strong and playing out.