13.05 daily recap

- open inside VA, price came down to VAL got rejected right away, went to test VAH and set the IBH just above it

- value shifted higher in B and C. But C closed down, below value, suggesting weakness, not finding too much buyers above the IBH, no initiating buyers

- in D value break lower, finding R@VAH, best trade short @ VAH, or short VAL of C

- in E value shifted lower, best trade short VAH of D

- F & G was kind of engulfing inside E, developing value inside of E's value

- in H value shifted higher, long from VAL of E+F+G

- I & J found strong R at yesterday's VAH, got rejected right away from it, both closing down, suggesting weakness and further decline; exactly what happened in K, where value break down all the way to VAL from yesterday, perfect trade was short VAL of I+J

- in L value break down below POC, OR, VAL & IBL

- we can see that 34 EMA was neutral to negative even when we had up candles, this is a very good indication to keep us on the right side of the market

- in this chart i want to highlight how price reacted at these important reference points of the day: VA, POC, OR, IB, mid IB

- first we can see price rejected from VAL, than made a higher low on OR low, encounter some R at OR high, than setting the IBH just above VAH

- rejection from IBH (price not getting acceptance above yesterday's high), came down right to mid IB; bounced back to VAH, and from there rejection down to POC & OR low, finding some S/R around mid IB

- price found S at OR low, and bounced to VAH with small R at mid IB & ORH (again)

- look at the second rejection, double top, from VAH, in it's way down price stalled at: mid IB, POC & ORL, VAL & IBL and at monthly VPOC@1161.00, where it retraced and got rejected again

- looking back seems an easy day, for me it wasn't, due to lack of focus, and not being able to judge the things objectively in the heat of the battle. Even tho i took +5.25 points, i'm not that happy with it. My first trade was a very good one, short at IBH based on the rejection of that level, my exit was poor, even if i had in mind mid IB, i was a bit too greedy. I left just before the nice big drop.

- i have to coordinate and structure my trading:

1. at the open i need to be aware where we are in relation with high/low volume nodes
2. be aware of the previous day shape (P, b, double, balanced)
3. if we'll open with a gap
4. important levels from previous structures
5. how are we trading in relation to the key reference levels
6. i have to ask myself constantly about acceptance/rejection; about S/R levels; i have to analyze the distributions, how they closed in relation to one another?, how value is moving? is it weakening, is it strengthening? have to use the EMA to keep me on the right track
7. most of all have to be patient, relaxed and place my trades at predetermined levels

- have to be objective, i think everything is obvious, but in the heat of the moment the judgment is clouded by my beliefs. But if i see, for example, value shifting higher (like A, B &C), it is a bullish sign, than C closes down and below value, now thats a very good sign of a weakening market. Same with I & J periods, and if you got confirmation from EMA, showing the same signs of weakness, there's a go for the trade in the right direction.