Today we had a 1.50 Continuation Gap on the heals of Block bars showing up the Prior days close most notably on the 13,500 tick closing down. Prices moved high on the open and continued the campaign to break 1505 by the 2nd Ti.
Recap Notes:
Trade Selection - Solid Trading, OK initial Entries, Good Cuts and Solid Exits.
Sequence 1- was actually a Liquid Trade based on the Printed Block bars on the 45/15 and 5. However price had broken to upside closing above the 45 cycles indicating strength. I was able to take small loss with No regrets as volume increased to the upside.
Sequence 2 - was a 45/5 cycle with blocks in the background. I was able to get max on for a solid gain exiting into the rally. Was able to take the bulk off at healthy gains.
Sequence 3 - was a reentry the of sequence 1 based on a 45/5 cycle with blocks in the background. I was able to get max on for a solid gain exiting into the rally. Was able to take the bulk off at healthy gains.
Sequence 4 - was a C(500 cycle in trend) This trade was solid and actually had much more profit potential than what i booked. However, considering the time i have no regrets.
(Alote of Probing Early)
INTANGIBLE OBSERVATIONS:
look for Blocks on the higher Time Frames and give the probes a chance - Today i was able to get probes on based on strength but didn't give them a chance to indicate confirmation so i wound up closing and reversing only to reverse bake to my original premise before gains were made. This is too exhaustive and needs to be checked. The key is to trust the PREMISE and allow it to confirm before getting more on.
ON NO NEWS days be careful to wait for very solid entries and be quick to kill probes - Today we had NO news which allows for Manipulation.
Don't wait for Dark pools to sell before taking profit - Today I was able to catch a sold move
that appeared to have much more left in the tank. However we NEVER printed any Blocks on ANY Time frames before selling off 6+ points in 15 minutes. The only warning was 1 Probar on the 4500 and the 1 minutes charts. Had i waited for stronger signals things could have been bad. This is why it is key to exit into the rally taking the bulk off prior to any hard confirming signals.
Always check the News - Today trading outside my morning prep routine i made a crucial error in judgment by placing a trade at the 1st Ti and getting caught in the whipsaw. During whipsaw moments it is often tough to execute in and out of positions thus it wise to avoid entering just prior to the 7:00am. This is a byproduct of missing the morning routine.