Friday, August 24, 2012

3.5 Gap Down + Blocks at Support = 1st Ti Rally to the Highs

Today we had a Gap down into Support with Blocks on the 4500 Tick, 13,500 and 15 minute. All signs of Strength!! I suspect this open may be the beginning of the sneaking up process. We then printed Exhaustion on the 4500 and 15 minute along with a End of Trend signal. We Rallied off strength on the 1st Time Interval and continued through the 2nd Time Interval for the common friday rally.
Recap Notes:
Trade Selection -  Good Trading. Late Entry, early exit.. Had an accurate premise, added to the position at a good time, BUT exited too early!! Trust your premise and allow the time intervals to play out.

INTANGIBLE OBSERVATIONS:
Previous Days Close & Premise Input is Key- Establish the premise on the close of each day. Use the premise Input Calculator and note high time frame activity.
Click Video Link Here
Open Gaps into EOT support are good liquid fades
Watch for the Open Gap into Support and Signs of Strength
Trust Your Premis until proven otherwise