End of day review 6-28-11 Tuesday

Trade plan and Price action review: (Price action) The day opened right at the value high of the previous day. The context and structure was bullish going into the session. Buying came in and we traded higher throughout the day in a slow chopping manner with small rotations at my resistance levels. The market didn't offer any opps for me today so i had no trades.

(Trade plan) My plan was to be bullish today and i said if we break above the 1279s area it would confirm the buyers in control and i would look for higher prices which is what we got. I was to only wait for solid set ups and none came around so i didn't trade.

Trades review: (Hypothetical) see charts

(Actual) None

Conclusion of the day and thoughts going forward: Today was pretty boring and im sure there will be more of them days coming ahead due to summer trading. i was waiting for solid set ups because the market is in a tough spot here and is trying to work out which way it wants to go. My trade plan was in line with the market scenario today and it provided a great guideline to the day's action. My levels were good as well and i was happy with the reactions i got in my areas. The only opp i saw to get long this morning was the retest of the trend line that broke in globex session just before the market opened. It was also a rejection of the OS low that was the signal to get long with the responsive buying below the OSL.

BSO Points for the day: 0

Winners: 0

Losers: 0

Scratches: 0

Grades for the day:

Following my plans: A

Following my rules: A

Emotions in check: A

Pre market analysis 6-27-11 Tuesday

no time to post this morning

News: Consumer confidence @ 10AM

Trade plan and Price action analysis: (Price action) Yesterdays action saw ES trade in a trending fashion back up. We retested the highs at 1279s of the past few days and found sellers there. Globex has traded back up to the 1279s area and that level capped the upside. We traded down to the VPOC area at 1272.50 of yesterday's session and the has shut of the selling for now. Value is established in the upper half of yesterdays value so this show the buyers still have control. The market is trying to find a direction to go in as we are stuck in a range that keeps getting tighter. Eventually the market will break out as balanced areas always lead to imbalanced moves. The question is which way will it break?

(Trade plan) Globex was capped by the 1279 area above and traded down to the 1272.50 VPOC of yesterday profile which has shut off the selling for now. We have consumer confidence out at 10AM and the market may balance heading into that release. The buyers are in control for now and i will use the 1269-1270.50 level as my line in the sand short term. If we start breaking below that it would show the sellers are stepping back in and may take control again. If we break above the 1279s and globex highs area it would tell me that the buyers are still in control and we will likely move higher. Over all like i said this area is tricky as the market works out what it wants to do. So i will mostly sit on my hands and will only take solid set ups.