Monday, April 29, 2013

6pt gap UP on PDC Strength + Blocks in Globex and Open = 1st Ti Rally


Today we had a 6pt Gap Up after printing Rambos on the lows very early n the Globex session then printing Block bars on the 4500 in a PB in trend mid after hour trading. Price moved higher putting in a EOT cycle in the pre-open BUT then selling down closing on the low of a block bar, however we still remained above the mid line** is signal the 1st test of the 0 Line in the cash markets simultaneously** Very key in confirming the Daily prior day's low volume closing off the lows (TEST IN A RISING MARKET) bar. We got a solid rally on the 1st Ti testing the 1586 area.
Recap Notes:
Trade Selection -  Perfect Trading, Great Entries, Great Exits
Sequence 1 1S1K. This trade was a 45/15 cycle that saw price trade into a 45/5 while fighting the next 1500 cycle Resistance. The break above here was the 1st Ti rally moving 6pts from the morning low. I was able to jump in time and get more on before the train left the station. I probably could have held for the close of the bar to maximize gains but i did exit into the rally taking a solid portion out.

ADJUSTMENTS & OBSERVATIONS:

Confirmation to hold during a rally - When a rally ensues and we get a professional bar (on say the 15 or 45, 5m) printing this Hammer/Hangmen bar then we may hold till the close of the bar. If we close above it then this signal more buying by late pros absorbing the profit taking sell orders as show by the tail. This is  a sign of higher prices. 

**Also Note that breakout bars on the 1st Ti will usually close on their highs putting in a few more points before stalling, These bars could be held for 15-30 minutes to maximize the rally. The break above the 1st Ti Bar is the 30 minutes total from the 1st Ti @ 7:00**


Mid line and 0 Line Confluence - Today we had a block bar closing on the low but remaining above the mid line. At the same time the $Tick was making its 1st test of the 0 Line. To add to this  was the Vpoc of the opening bar showed Strong balance symmetrical protruding between 1581-1581.75 after gaping up in the globex. When the next bar prints and holds this VPOC we have very strong confirmation of higher prices.

Patient on the Open waiting for the cycles is the key. Allow the directional Premise to show itself

Thursday, April 25, 2013

4pt Gap above Resistance = Buying on the PDC = Long Rally early


Today we had 4pt Gap above Resistance, we tested that area 1576.75-1577 on the opening bar and again on the 6:45 bar before absorption volume showed up sending price to test and break the highs of the day. Strength is still evident in the market and higher prices are likely in the coming weeks.
Recap Notes:
Trade Selection -  Ok Trading, ok Entries, poor Exits
Sequence 1 This trade was a 1500 single cycle that showed signs of strength in the background from the Prior days close. I took a bit of heat but was able to get more on as price stalled to the downside. The errors was not allowing more time for price to breakout in favor. The breakout was shortly after my exit. 
Sequence 2 - 15 single cycle in trend with 1500&500 block bars, However very poor timing on this as i had to sit thru the DEAD zone for entered at the 2nd Ti. 2 hour later price broke out to the upside and was able to exit into the rally.

ADJUSTMENTS & OBSERVATIONS:
Patient on the Open waiting for the cycles is the key. Allow the directional Premise to show itself

Be patient and keep the Probes to a minimal

Take small profits when given!! Im expecting larger moves due the wider ranges of lately. However I need to STOP looking for home runs and take the singles to get into rythme.

Be sure to WAIT for Qualified Sequences ONLY!!

Wednesday, April 24, 2013

0pt Con Gap into HT Resistance 15M EOT = Tight Range day


Today we had 0 pt Con gap that met Hight time Frame resistance with 15m EOT and 13500 R cycles as well as 4500. After the large gap trends from earlier this week we are due for a day such today. tighter ranging day. However the market strength is still evident and im expecting higher prices by weeks end.
Recap Notes:
Trade Selection -  Ok Trading, Good Entries, Ok Exits
Sequence 1 This trade was a 1500/500 cycle with a block bar . However it was into Resistance and on the higher time frames we had solide resistance. The Trade was not bad and did move 1pt in favor but failed. Ony regret is the poor exit. 
Sequence 1A Reentry This trade was an impulse to the 1st trade that simply failed so i should have sat back and waited for a clearer picture.
Sequence 2 - This was a good trade taking the 45/5 and getting more on the price went in favor as expected but the exit were accurate but the fills cost about .75pts so profit was minimal. 
Sequence 3 This trade was a 1500 single cycle after the initial rally that provided no real entry point. The 15 cycle printed blocks on the small move lower just prior to the 1st Ti, indicating the potential to continue the rally. We also had the 1st test of the 0 Line in $Tick. Good job of taking profit off the table when presented. 

ADJUSTMENTS & OBSERVATIONS:
Patient on the Open waiting for the cycles is the key. Allow the directional Premise to show itself

Be patient and keep the Probes to a minimal

Take small profits when given!! Im expecting larger moves due the wider ranges of lately. However I need to STOP looking for home runs and take the singles to get into rythme.

Be sure to WAIT for Qualified Sequences ONLY!!

Tuesday, April 23, 2013

+14pt gap + Break above 1568 STL = TRD


Today we had +14pt Gap and immediate rally into the Daily Super Trend Line. This was broken with ease as we tight range drifted into the 2nd Ti, running 8.25pts from the open with 1 small pullback.
Recap Notes:
Trade Selection -  Good Trading, Good Entry, Good Exits
Sequence 1 This trade was a 1500 single cycle after the initial rally that provided no real entry point. The 15 cycle printed blocks on the small move lower just prior to the 1st Ti, indicating the potential to continue the rally. We also had the 1st test of the 0 Line in $Tick. Good job of taking profit off the table when presented. 

ADJUSTMENTS & OBSERVATIONS:
Patient on the Open waiting for the cycles is the key. Allow the directional Premise to show itself

Be patient and keep the Probes to a minimal

Take small profits when given!! Im expecting larger moves due the wider ranges of lately. However I need to STOP looking for home runs and take the singles to get into rythme.

Be sure to WAIT for Qualified Sequences ONLY!!

Friday, April 19, 2013

+5pt gap up on PDC Buying + Blocks @ Lows = 1st Ti Rally


Today we had +5pt gap up on Prior Days Close Buying. We put in a 5m block bar in the pre-open then again on the open breaking below both to test the near the PDC. However the test had Pro Bars closing down with Exhaustion signaling potential strength @ 1537-1538. This proved to be correct and price rallied on the 1st Ti to the 1545 level. The break above 1546 would send prices into the 1550 area after the 2nd Ti.

Recap Notes:
Trade Selection -  - ok Trading,  ok Entries, ok Exits
Sequence 1 -Basically 1 probe on the day no real sequences to Note.

ADJUSTMENTS & OBSERVATIONS:
Be patient and keep the Probes to a minimal

Take small profits when given!! Im expecting larger moves due the wider ranges of lately. However I need to STOP looking for home runs and take the singles to get into rythme.

Be sure to WAIT for Qualified Sequences ONLY!!