Today we had -19 Gap in the globex session that appears to have set up a flag type pattern with multiple Block Bars in a range around the 1533 Low. a break below this level could send prices to the Daily Gap zone @ 1527. However a hold above hear would be a base for retesting the broken super trend level of 1547. Blocks on lows suggest a retest.
Recap Notes:
Trade Selection - Perfect Trading, Excellent Entries, Excellent Exits.
Sequence 1 - A(13/15 cycle w Blox & 2nd cycle after EOT) 1S1K.
This trade was on the open with 19 point Gap overnight printing heavy Block bars on the lows across all tick and the 5 minute charts. I was able to enter with a probe and WAIT till i got confirmation of the TEST before getting max on. Price rallied 4pts from ave entry allowing me to maximize profits.
This trade was on the open with 19 point Gap overnight printing heavy Block bars on the lows across all tick and the 5 minute charts. I was able to enter with a probe and WAIT till i got confirmation of the TEST before getting max on. Price rallied 4pts from ave entry allowing me to maximize profits.
ADJUSTMENTS & OBSERVATIONS:
TRUST YOUR BLOC BARS IN KEY AREA's - Today i trusted the Blocks that appeared on the lowed and waited as price testing those level. NO quick cuts or bails... Im thinking like a specialist who is absorbing for his own account.
Limit The Sequences by allowing for Testing. USE the probes to allow for Testing, Then get more on after tests are confirmed. This market is very testy but decisive afterwards.
Have clear premise for the day and trade it. - I had an ok premise to start the day but i failed to execute that premise and failed to make the adjustments. When the initial premise is NOT moving in favor then consider adjusting the view prior to entering the next sequence.
Give the position i little more time when block bars are evident in key areas that hold.
Limit the probes until we have a clearly defined sequence.
STAY FOCUSED the Opportunities
Limit The Sequences by allowing for Testing. USE the probes to allow for Testing, Then get more on after tests are confirmed. This market is very testy but decisive afterwards.
Have clear premise for the day and trade it. - I had an ok premise to start the day but i failed to execute that premise and failed to make the adjustments. When the initial premise is NOT moving in favor then consider adjusting the view prior to entering the next sequence.
Give the position i little more time when block bars are evident in key areas that hold.
Limit the probes until we have a clearly defined sequence.
STAY FOCUSED the Opportunities