Today we had +1pt Gap into Heavy Weakness with Rambos at the Globex highs along with Block bars printing on the pre-open in the same area indicating some short turn distribution after a very highly marked up trend day with an unusually steep uptrend. we also printed a Block Bar on the 15 minute open that closed on the low. We broke below this bar with high pro volume and moved lower till the 1st Ti.
Recap Notes:
Trade Selection - Good Trading, Good Entries, Good Exits.
Sequence 1 - A(13 EOT w/Block@Highs Globex momentum)
This trade was a 13500 tick momentum trade that had early session rambos then pre-open Block bars in the same area. The Blox were broken to the downside on the open, so i entered short with momentum and was able to get more on as price stalled to the upside. **when i get Rombos & Block Bars in the same area + an EOT on the higher time frames 13500,40500 or 135, then this will out wieght any short term signals ie. 15/5 such as today.
Sequence 2 - C(500 Nt)
This was a solid trade that saw price in a strong down trend. the 500 printed blocks at the cycle and quickly dipped down. However i closed my probe on the test back up (which never broke the block high)!! I had to reenter before price broke down. Good trade and exit but still balking.
This trade was a 13500 tick momentum trade that had early session rambos then pre-open Block bars in the same area. The Blox were broken to the downside on the open, so i entered short with momentum and was able to get more on as price stalled to the upside. **when i get Rombos & Block Bars in the same area + an EOT on the higher time frames 13500,40500 or 135, then this will out wieght any short term signals ie. 15/5 such as today.
Sequence 2 - C(500 Nt)
This was a solid trade that saw price in a strong down trend. the 500 printed blocks at the cycle and quickly dipped down. However i closed my probe on the test back up (which never broke the block high)!! I had to reenter before price broke down. Good trade and exit but still balking.
ADJUSTMENTS & OBSERVATIONS:
ESTABLISH WHOLESALE PRICE ZONES - Give the trade a chance to work- Remember that price may test an area prior to moving in our direction, allow this to happen with your probe before committing more lots.
Establish your Premise and trade ONLY that until it is proven wrong - I took a solid opening trade but gave back profit believing the premise had changed without any solid (larger TF) proof. Too much reversing is an indication of NO Premise, weak premise of not trusting the premise.. All bad mind frames.
Establish your Premise and trade ONLY that until it is proven wrong - I took a solid opening trade but gave back profit believing the premise had changed without any solid (larger TF) proof. Too much reversing is an indication of NO Premise, weak premise of not trusting the premise.. All bad mind frames.