Today we had + 2.25 Gap into weakness + 45 EOT in Globex amounting to early selling. However the range was moderate only posting 5pt by the 1st Ti. Price appears to be setting up a base with Block bars printing between 1545-1546 intra day. but corresponding to the Blocks in the weekend globex session in the same area. This could be accumulation for the next test of the highs.
Recap Notes:
Trade Selection - Ok Trading, Good Entries, Ok Exits.
Sequence 1 - A(45 single Globex EOT momentum)
This trade was a 4500 single cycle that printed a EOT in the globex session. Im looking to take advantage of the momentum hear. I could have been a little more patient with the entry as i had to sit thru some heat with max on!! which is never a good thing. However i was patient enough to allow the trade to play out and took an ok exit. Could have been a good exit with a bit more patience.
Sequence 2 - C(500 Nt)
This was not a bad selection but price never really moved in favor and i held too long behind that understanding costing a cut that could have been prevented. poor management
Sequence 3 - A(15/5 cycle w/Probar cluster and 5 EOT)
This trade was maybe the best trade of the day. I took a 15/5 single cycle with Pro bars behind it clustered on the 1500 tick. Good trade i exited into the rally and gave the last lot a chance.
This trade was a 4500 single cycle that printed a EOT in the globex session. Im looking to take advantage of the momentum hear. I could have been a little more patient with the entry as i had to sit thru some heat with max on!! which is never a good thing. However i was patient enough to allow the trade to play out and took an ok exit. Could have been a good exit with a bit more patience.
Sequence 2 - C(500 Nt)
This was not a bad selection but price never really moved in favor and i held too long behind that understanding costing a cut that could have been prevented. poor management
Sequence 3 - A(15/5 cycle w/Probar cluster and 5 EOT)
This trade was maybe the best trade of the day. I took a 15/5 single cycle with Pro bars behind it clustered on the 1500 tick. Good trade i exited into the rally and gave the last lot a chance.
ADJUSTMENTS & OBSERVATIONS:
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.