Well, my slightly bullish bias didn't hold but that's not a concern since it proves an important point that I've been reiterating on the blog: put the bias aside and trade what you see; trade in the now moment opportunity flow. Easier said than done though. Looking at my trades today, over half were placed on the Long side, and I completely missed the shorting opportunities. Could this have been due to my slightly bullish bias? I don't know but it sure looks like it. Here's a screen shot of today's trades:
I wish it had time stamps next to each trade, but unfortunately the Trades window in the AT platform doesn't store that level of detail. At the end of the day, I was up +10.25 points which isn't bad but it could have been much better. I was using a single 1-min ES/TICK chart all day, and the only positive finding is that I was able to stay out of trouble even while taking counter-trend setups based on the TICK. The TICK continues to perform day in and day out, and is an excellent indicator.
Gap filled within first 30 minutes
ES/TICK (3-min) Note where TICK spent most of its time: Below Zero-Line. Price stayed below mid-point all day. ES couldn't even retrace back up to its 1st hour low indicating major weakness.
ES Market Balance (5-min Day Session)
TF Market Balance (5-min Day Session)
TF/TICK (3-min) Same deal with the TF. Price remained below mid-point all day. It got within 1 tick of its 1st hour low, but couldn't reach it. Major weakness signal.