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were clearly are not going higher and we have got to make up for this weeks horrid price action!
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Well was expecting some thing a little more explosive than that......
We tested this weeks Vwap to the tick at 57`s........
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
We have ETH vwap above us as confluance @ $95.62`s
We also have a open Gap below us that we could try and close today
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Today in hindsight was simple and i screwed it up completely....
We opened up way out of balance...way out of value
We had no reference point to work with basically openeing up in no mans land
The ON session was out of balance and we saw a large move down
1. On the open we had no sellers respond and buyer started to step in holding ETH Vwap value lows
2. We now had a ref point to work with using "A" period as excess lows
3. I should have been long in "B" period. We were back in ETH value and RTH vwap was holing on the pull back
in "B" period
4. We broke though ETH vwap were we saw more buying and we were out of RTH value inbalanced
5. A trend up day is unfolding with a test of mondays porfile and im sure yesterdays low of day is in the picture now
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Here's my take on what we have today. We opened way out of balance/range (OAOR). These tend to provide great opportunities if you know how to approach them correctly.
So we opened down in the single prints area from sessions past and right away knew we would move out from here based on that (single prints) information. That's really our only reference which was probably why we had a slow start to the day.
The next step is to examine what the ON session is doing. It was in a state of imbalance per the value. But we immediately came back into value at the open. You can see by the order flow that the market was attracting responsive buyers at the open. All you needed to do beyond that point was work with the developing value to find your trade location.
These can be tough days to understand but they can provide huge opportunity which as we can see is precisely what is happening. A nice change from yesterday's garbage. One thing I did notice about yesterday was there was heavy put activity. Can't say that we're seeing the results of that but definitely interesting.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Wow, that was a nice move there. Covered my runner at yesterday's POC. It just made sense that we move to that point based on all the time the market spent there yesterday. That more than made up for yesterday's session.