Today we had a 3pts gap down on prior days weakness and Globex Momentum but quickly rallied back to the highs were we met previous days Resistance @1409. We immediately began a decent to the lows prior to the 7:00am news release. We tapped 1403.25 then rallied back up past the days highs to 1412 in 10 minutes and again retreated back to the lows on the day.
Recap Notes:
Trade Selection - Good Trading. Great Entry, good exit into rally.. Had an accurate premise, was able to add to the position at wholesale. allowed 1 lot to run and got out with only 1 tick after price moved 5.5pt in favor.
INTANGIBLE OBSERVATIONS:
Always Exit into the Rally- You must leave money on the Table- Today i exite very well into the rally but decided to leave 1 lot running to max profit but instead gave back 5.5pts to exit at 1 tick. Lesson learned!!
Daily Premise and Market Bias should be trusted- Today my highlight was my ability to trust my premise and be patient after an early entry.
Be very patient on NO news days- ES tend to trade in tight ranges before moving so the premise must be trusted in these situation