Today we had a .25pt gap Dn suggesting a continuation of prior days trend. The PD had weakness with Blocks at the midday highs. We put in a low early @ 1432 when blocks appears on the 13,500 tick with 15minute NoS letter. We bounced and rallied on the 1st Time Interval to test 1437.50 before retreating back to the POC of 1434-1435. No pros or blocks on the 15 Minute and a 5.50pt range would suggest potential accumulation on the day if 15m block appear at the lows.
Recap Notes:
Trade Selection - Good Trading, Good Entry, Good exit. I entered off a 15/5 cycle sync that popped 2pts straigth away but i held for a larger gain that didnt happen till later so i had to sit through 3pts of heat with heavy size (NOT GOOD). However I trusted my premise of strength as we had Blocks on the Lows and we bounce quickly when testing those areas. Price popped on the 1st Time interval and i was able to manage my risk taking profits into the rally.
INTANGIBLE OBSERVATIONS:
Continuation Gaps - Be careful on continuation gaps and wait for the extremes.
Trust your premise but adjust your target based on the range potential. Today we traveled in tight 5.5pt range past the 3rd TI with No blocks on the 15minute lows suggesting continuation of PD trend on the day.