- as in stated in prep i was monitoring for price acceptance above/below rally high @1280.00 from yesterday
- we opened on current BAL and soon the price sliced through 1275.00 LVN, i was being aware of that scenario as well, as i mentioned in my yesterday review.
- as soon as price came below O i was looking for a short, tried 1275.00 but a second too late and didn't get filled than just entered 3 ticks below. My T1 was hit at +2.00 points, but than again i was expecting too much from it and the exit for the 2nd contract was poor. (This will be my next focus and my goal for improvement in weeks to come, as much depends on it).
- my next step was to just wait for the news to come out, didn't even check the results of it; but considering the location where we were traded (BAL) and the fact that that very important reference area @1275.00 (not even LVN but separation between 2 distant BA's) was breached I was looking to trade from the short side, for the first part of the day, or until the conditions are changing
- price coming below O, OF selling, CCI showing momentum to the downside, range bars creating a short setup, i jumped in (based on my previous trade i entered without patience and in this case i had to take some heat, 1 point, and as a result i had a 2 ticks worse entry than my plan, be aware that over time that adds up). However my trade was successful, of course with bad exit on 2nd contract.
- i had another short based on the higher odds of the IBL to be broken as the pressure was to the downside, OF selling, creating a divergence with price, which finally break. The tempo in the break wasn't too aggressive, thing that made me think about the move being limited
- slowed tempo at the lows, a very nice bottoming picture, with a divergence with price, making lower low, and OF flat (no aggressive sellers, or lots of responsive buyers absorbing), created a strong long setup@1268.75
- i think in the 2nd part of the day you have to really take in account dVPOC, as you have already indications about whats going on and what have been accomplished and what didn't; i'll work in detailing the tactics around it
- in this case, dVPOC shifted lower to 1270.00 stopping the move and offering S (it is a very strong signal when dVPOC shifts lower with price diverging with OFinto a bullish div), price climbed to 33EMA, dVPOC shifted higher to 1272.00 offering S for the move above midIB and the same area at 1275.00. dVPOC shifted higher offering S for the final push up to 1280.00, rally high. Value was dragged by price higher. All the way up all the elements aligned for supporting the continuation of the move: MP was one time-framing higher from I period through N; OF was buying, CCI turned to the upside, price climbed above EMA, nice range bars setups, not to mention location of where everything took place, decelerating tempo to the downside, that area between BA's.
- for tomorrow i'll monitor if we get acceptance below/above 1275.00; still believe its an important area
- i will apply BA tactics either way
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