Today we had a -1pt continuation gap into strength. The increase in volume on the PDC proved to be more buying as the open held with multiple test of the Resistance and the eventual crossing the creek (On light volume).... We are due for a 2% Sell off day but I'd be very slow to short this market.
Recap Notes:
Trade Selection - Good Trading, Good Entries, Great Exits.
Sequence 1 Today I had a strong premise that played out in early in the globex and pre-open. I was able to jump in but on short lots as price turned off blocks and probars. A solid trade regrets.
Sequence 1A This was a continuation trade from the previous, my mistake was closing 1 lot early on an overreaction to price as we dipped slightly lower lasting for less than 2 seconds before resuming the direction. I still managed to take a good gain exiting into the rally.
Sequence 1A This was a continuation trade from the previous, my mistake was closing 1 lot early on an overreaction to price as we dipped slightly lower lasting for less than 2 seconds before resuming the direction. I still managed to take a good gain exiting into the rally.
ADJUSTMENTS & OBSERVATIONS:
Manipulation Mondays - Today was a continuation of the Fridays trend, Notice when their is No or lite news as is often the case on Mondays, price can move in one direction on light volume as the campaign can be easily pushed. good to enter early and be patient as it could take hours to hit your target.
EXIT INTO THE RALLY!! - Today i failed to exit into the rally on multiple occasions giving back major points. THE KEY IS TO WHILE THE RALLY IS IN PLAY. you may leave a bit on the table at times but you will catch the bulk of the move. If price has rallied prior to a 7:00 news release BAIL OUT!! Don't worry to leave money on the table, this is a high probability EXIT.
Stay Focused - Jump on solid Block bars at cycle turns, Today i missed a few very good entries that had block bars on synchronized cycles, minor distractions caused a half heated effort to enter and i
EXIT INTO THE RALLY!! - Today i failed to exit into the rally on multiple occasions giving back major points. THE KEY IS TO WHILE THE RALLY IS IN PLAY. you may leave a bit on the table at times but you will catch the bulk of the move. If price has rallied prior to a 7:00 news release BAIL OUT!! Don't worry to leave money on the table, this is a high probability EXIT.
Stay Focused - Jump on solid Block bars at cycle turns, Today i missed a few very good entries that had block bars on synchronized cycles, minor distractions caused a half heated effort to enter and i