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.
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!!
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!!