The Asian session started off weak but then bounced. And then the European session didn’t really give us any clues. It wasn’t until the US session opened that the real weakness came in and we had a nice 12 point sell-off in the Emini right off the Open.
In the afternoon session we bounced all the way back, plus a little more, and we ended the day where we started. The Low today didn’t really have the hallmarks of a proper Exhaustion sell. We’ve still got to make Pull Back to End of Trend on the 4,500 tick chart – so let’s see what happens after that.
Today’s day trade video is a good example of waiting for the first blue Professional bar after the Open on the 1,500 tick chart. It’s often the best place to see what the Professionals are doing for the first trend leg of the day. Today’s showed selling on a retrace and the break of the Low was a falling through the ice signal.
Good luck with your Emini trading tomorrow.
(Update: My video service has been down all day. Hence the late distribution. Nothing’s every easy.)