Today we had a +.75 Con Gap + PDC Strength + Retest of Lows = Early Rally to 1st Ti. Price Declined from here testing the 1621 area before bouncing. Taking wholesale entries at support lows with Signs of Strength in the background is the way to go.
Recap Notes:
Trade Selection - Great Trading, Good Entry, Great Exits. (Trade Of the Day)
Sequence 1 Great Trade 1 Shot 1 Kill - I entered this trade off 45/5 sync with PDC strength and Blocks holding in the background. Was a bit early but held due to strength in the background and got more on the early decline, had a great opportunity to get more at even better prices bit missed it, However. The key was trusting the Block bars on the higher time frames.
ADJUSTMENTS & OBSERVATIONS:
Trust Your Signals on the higher Time Frames - Block bars on the higher TF's that hold are Specialist positions and must be trusted. Today i trusted what i saw in the background of the 40500, and 13500 tick charts. price testing these areas and held, we eventually got a good 5+pt rally from the lows.
No News Weeks - On weeks when the news is very light such as this week we need to trade the general trend as these are good opportunities for specialist to create demand by marking prices up on low volume regardless of signals strength.
Trust Signals that show up on higher time frame - Today we had pro bars closing on the highs of the 135000 with Stopping Volume. This was a clue that professionals was selling into the early rally which resulted in a 7pt decline on the 1st Ti.
Also we opened with a 3pt reversal Gap that shows a high probability of price moving in the opposite direction of the early open starting with the 1st Ti.
Check News prior to trading!!! - When we Blocks against the premise check the higher time frames and follow the $Tick trend. Today i got shaken out of good position because i reacted to block bars on the lower time frames (15 &5) but no where else while the $tick was still trending lower... With a strong premise these can be dismissed until the 5minute,15 minute, 45 or 13500 tick response also with block volume.
No News Weeks - On weeks when the news is very light such as this week we need to trade the general trend as these are good opportunities for specialist to create demand by marking prices up on low volume regardless of signals strength.
Trust Signals that show up on higher time frame - Today we had pro bars closing on the highs of the 135000 with Stopping Volume. This was a clue that professionals was selling into the early rally which resulted in a 7pt decline on the 1st Ti.
Also we opened with a 3pt reversal Gap that shows a high probability of price moving in the opposite direction of the early open starting with the 1st Ti.
Check News prior to trading!!! - When we Blocks against the premise check the higher time frames and follow the $Tick trend. Today i got shaken out of good position because i reacted to block bars on the lower time frames (15 &5) but no where else while the $tick was still trending lower... With a strong premise these can be dismissed until the 5minute,15 minute, 45 or 13500 tick response also with block volume.