3pt Gap Up + Globex Support = 10pt Strong Up Trend Early

Yesterday's TREND = UP Trend 

Yesterday's Power On Close = Strength

Today's Open = Open @ 1279.75 GAP Up (3.pt)

Result = Strong Up Trend 

Today's TREND = UP past 7 bar

Today's 15 Minute Close Bar =UP@ 1294.50.75

Today's Power On Close = Strength

Daily Volume = 1.91M  Volume

Today's $TICK close = 742

Daily Market Bias For Tomorrow = 

0.643 Modest/Moderate BULL

Daily's closed above the previous cluster of accumulation and appears to be headed toward the 1300 area, This could happen over night in which case I would expect some resistance at 1310is as a Cycle very close. If we somehow break above this Daily cycle then we could be facing a short term up trend.

TRADE OF THE DAY:

The trade of the day came early on a 4500/1500 sync. We got a PB on the 1500 tick with a Cycle support on the 4500. The 500 was an overshoot BUT had Probars and divergence at the lows with a final Rambo to catch stops. A prime entry was the 1279-1280 area. After cracking the 1280 price tested 1279, the low volume here was a clue of intended direction. Price then continued the UP Trend established the Globex session peaking at 1284.75. The Best EXIT was between the 1283-1284 area.

WHAT I COULD HAVE DONE BETTER:

Be more selective about taking ice Breakers, Wide open bars against the Globex trend is a NO NO.

Could have been more patient on my last trade, many times when im looking for 1 point or so (trying to hit 4pt target) I enter too early and have to sit thru some heat, today the entry was not ideal, but the tape was accurate for 1 point. The heat was .75 not too bad

SOLUTION: 

Know the Market Bias, Globex Trend and Day Type prior to entering Open Ice Trades.

Wait for EXTREMES ON THE VIX to confirm Open Ice.

INTANGIBLE OBSERVATIONS:

Early Predictors that MUST BE UNDERSTOOD - Know the Market Bias - Stick to the Bias as an overall Guage of direction, if this is off you should see the signs early by confirming with the follow predictors.

Globex Trend - Note if any trends are developing overnight and confirm with pre-open. Be sure to check High Lows, Strength and Weakness, Cycle Supports & Resistance in the Pre Open to edge the morning and match the Market Bias.

Opening GAP Day Type - After noting the Overnight session check the opening gap to understand the day type, this will further confirm market bias and Pre-Open, When all the predictor match dont hesistate to trade cycles in the intended direction. This is a must know prior to entering Open Ice Trades As well and other sync etc.

Get to the 4500 to find the Current trend.

No Gap Open = Strong Up Trend Early Off Fridays Strength on Close..

Yesterday's TREND = Down trend 
Yesterday's Power On Close = Strength

Today's Open = Open @ 1264.25 GAP Up (50.pt)

Result = PreviousDay/Globes/Pre-open Continuation

Today's TREND = UP past 7 bar

Today's 15 Minute Close Bar =UP@ 1276.75

Today's Power On Close = Strength

Daily Volume = 1.99M  Volume

Today's $TICK close = 75

Daily Market Bias For Tomorrow = 

0.929 Moderate/Strong BULL

Daily's closed above the Trend channel Low closing at 1276.75. Todays rally was subtle but sure, we had bullish divergence on the ES.D and we could see another rally into the 1300 this week if we can close above the Gap zone. Im looking for another test of the lows with the upcoming cycle resistance on ES.D & ES continuous, Also we have cycle resistance on the 405000, and 135 that must play out prior to any real rallies. However It appears that some Accumulation is taking place and test days may be the clue.

TRADE OF THE DAY:

The trade of the day came after an early bounce with a 4500/500 Sync at 1262 price. The Market showed clues with Strength from Fridays close and Test on Low Volume in the Globex session. We Had No Gap Open signaling continuation of the prior day. So Strength prevailed. The 1500 Tick showed Exhaustion with a Rambo bar at the low on an Overshoot of the cycle. The 500 showed an EOT with Rambos, and Probars. The Best entry was a break above the 500 tick probar at 1263. The rally peaked at 1273.25. 10 points in all.

WHAT I COULD HAVE DONE BETTER:

Be Aware of the GAP TYPE on the Open, I got off to a rough start this morning because i didnt know the day type, fortunatlely I recognized the flow and made adjustment, but it cost me 4 points on the first trade.

I could have used the time i little better, I could have booked max profits allowing the 15 minute bar to close particularly on a trending phase/bars in the lower time frames.

SOLUTION: 

Always be aware of the day type and determine if it matches my Daily Market Bias. 

INTANGIBLE OBSERVATIONS:

When there is NO EXTREME Vix or INDU on the Open be very sure about taking an Ice Breaker trade. Combined with a Range Bias may be a strong warning against Open ICe Breakers.

Use the time to your advantage and try to allow the 15 bars to peak when the lower times frames are trending and during the 7bar zones.


Be careful and sceptical about PROBARS THAT SHOW UP ON the BACKSIDE of a PEAK. This is usually STRENGTH for the short term with the immediate trend.
In this case it showed up at cycle support and BB 1/2 line. This could indicate another test of the previous highs. 
(Notice the Wide spread Down on high volume, then the next bar is High volume close up, a 2bar reversal on high volume = STREGNTH)