Long weekend over

Well I have had a couple of days off from trading and I feel refreshed and ready to go.  I opened my NT platform today and once I saw the charts, I was surprised that there was so much trading volume for Friday.  Once I had seen this, I down loaded the monthly GOMI data recorded by a very generous individual from BMT, so I could look at Friday's price action in relation to the Delta Imbalance(divergence) tool. 

This tool (indicator) was created by another generous chap (Silvester17) from BMT trading.  I have also started using another of his price action tools on some of my charts, especially the Tick and range charts.  This shows the delta of each bar.  This is much better than using the Bid/Ask ladder (also known as the Footprint chart), as I am able to see more bars on the chart which gives me better visualisation of price action.

I have recently taken more with trend breakout trades, usually in frustration at missing a pull back entry, and they are usually successful.  However, when they have not been successful, I become emotional and vow never to take them again.  This sort of trading is counter intuitive to what I have learned from OTA, and probably the reason, why I have been reluctant to take them in the past.

I have been looking more closely at these breakout trades and believe, I can take more based on a volume or speed breakout from a basing zone after price has stalled in a trend.  So when I see a CCH or CBO breakout on a 1 min chart on CL, I will look to take the trade.  Also a RPM breakout on a tick or volume chart.  I will be keeping record of these trades going on just to see how they affect my trading.  However, my main entry will be on the pullback in a trend.

Here are some screenshots from Friday's price action on both CL and ES with analysis notes on the charts: