Today we had a Gap down with Professionals stepping to accumulate at the lows. From their we saw a weak test of resistance up into the 1411 area till the 1st Time Interval when price was met with rejection and knocked sideways until the 7:45 bar. At this point we began the decent back into the previous High Volume lows of the day. The Early bounce was ok, but the main sotry was NO Bearish Exhuastion on the 13,500 and NO pro ba rs on the lows of the 4500 also.
Trade Selection - Good Trading. Ok Entry, Good exit. The entry was based on the Open Gap and End Of Trend that showed up on the 4500 Tick. I entered too early but was able to manage the trade with solid add-ons.
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.
Open Gaps into EOT support are good liquid fades
