Today we had a 6.75pt Gap Up after Hard Selling on the close, this looks like a sneaking down campaign as we printed Block bars at the highs of the day but failing to break below the 1433 level. Mixed bag for now.
Recap Notes:
Trade Selection - Ok entries poor Exits, got stuck in a solid entry but tight range and no follow through. Very Ugly chop for the 1st hour of trading for me. I didnt react to signal fast enough and took a loss early. However i was able to adjust my premise and recoup from the early mistakes
INTANGIBLE OBSERVATIONS:
**NEVER FIGHT TRD clues, If these signs are present EXIT and Reverse position prior to 3rd Time Interval or Risk being sucked into a squeeze.**
Clues are:
- $TICK NEVER stayed below the 0 Line
- $Tick Trend Line NEVER broke the 0 Line
- $Tick kept bouncing off the 0 Line
- Price NEVER pulled back more than 1pt or so
- Price kept breaking into new highs, slowly
- Price Ignored ALL signals
- Price NEVER Responded to Time Intervals ie. (pullback)
- Blocks Not appearing at peaks, but instead on shallow PB in trend
High Time FrameStrength appearing on Block Volume into lows, notice 40500 Block with absorption on the next bar
Tick showing Block bars on the shallow dips into trend.
Trust the Premise!! and Be patient on the open - Trade behind the premise BUT REMEMBER TO enter at wholesale levels.