As I go through the charts tonight the main take away is very clear… that is that most markets are sitting at a pivotal point of resistance or support and thus this week becomes even more important insofar as market direction and intent. Many charts reflect a downside move perhaps closing some gaps left from that exhaustion break away from last week. Conversely, many charts are forming balances at the upper extreme of larger degree balances that would suggest more upside. No economic news tomorrow. This week the weaknesses I want to focus on is structure size. I noticed last week that I started focusing on smaller structures that led to me trading in lot of noise. So this week the emphasis is larger degree balance areas. The strengths that I want to continue to reinforce is the commitment to the trading plan and adhering to my risk parameters.
Currently I’m holding ZB_F which I caught Friday on a balance extreme play responsive in nature. Looking to hold this a couple of more days and will get rid of around Tuesday-Wednesday. I will continue to keep a detailed record of all trades taken which can be found under “My Trading Journal”.
My Focus Basket this Week:
DX_F, CL_F ,6J_F ,FGBL ,TF_F, GC_F, ZB_F, YM_F, ZW_F, 6b_F YI_F ES_F
– Under ” Watch List” & “Data Sheet” above