End of Day review 3-7-11 Monday

I was busy with work at the end of the day and didnt have time to put together a decent post. so i through this together at the end of the day.
1St trade: i tried long at 1320.50 we were at support and market bounced there so i was expecting support to hold. A rush of selling came in and i was stopped for 6 ticks. I couldn't catch the retrace fast enough so i let it go down. I felt pretty good about taking a long here not sure why it didn't work out. but i was stopped and now looking for a pullback to join the move lower. After reviewing this trade a little bit more i can see the we ranged off the open and then broke to the down side. So i should have been looking for a retrace and short type trade instead of getting long especially after retesting and failing back at the bottom of the balance area.

2nd Trade:  I tried a long at 1311.50 at support on my 30 min chart. I was obviously trying to pick the bottom and should have known better. My bad... Lesson learned. The market has been trending all day no need to try and pick the bottom.

3rd Trade: Tried a long and was stopped. I had my stop to close because the trade ended up working pout after 5 ticks of heat. I had 5 tick stop lol. Got to love rookie mistakes.

Pre Market analysis 3-7-11 Monday

News: Consumer credit @ 3PM

Daily chart notes: Daily chart has been in a range recently. I still need to be mindful of a continuation of the bigger up trend.

MP Notes: Fridays session moved lower initially and then moved back up into its value area high and closed there. Globex placed value slightly higher up giving us a balanced session going into today's trading. Most of the volume has taken place higher up on the range.

Trade plan: We are in the middle of the recent range and globex has been balanced. With the lack of news catalyst out today im expecting the market to balance. I will wait for the market to set up is IB before taking any trades. Because i like to see where the sellers and buyers are going to make a stand for the session. We have a big VPOC area below the market around 1315-1318 area as long as we can stay above this im looking at a test of the top of the balance area around 1332 and then 1343. Be patient and relax.