Today we had a 7.25 gap up during the Globex session reaching highs of 1523.5. Price then pullback printing Block bars in the pre-open and bouncing to retest those highs. We opened with Pro bars closing on the highs knocking price back to just prior to the 1st when Blocks showed up. We then rallied into the 1st Ti peaking and reversing with only a pro bar on the 4500 indicating a reversal/ Price continued to decline 12+points form 1524.50 to 1511.75 past the 2nd Ti.
Recap Notes:
Trade Selection - Ok Trading, OK initial Entries, Good Cuts and Solid Exits.
Sequence 1- was a 45/5 sync with Block bars i the back. This trade had a good entry moving 1.5 in favor but the erratic movement prompted me to exit a bit early but with no regrets.
Sequence 2 - 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.
INTANGIBLE OBSERVATIONS:
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 and
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.