Today we had a 5pt Gap Up after a huge Bull day with Blocks on the lows in the globex session pushing prices to new weekly highs early before easing down for the remainder of the day.
Recap Notes:
Trade Selection - Great entry and Exits, The premise was strong after the prior days rally and i was able to reenter on shallow 500 cycle pullbacks in trend.
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.