[Soultrader]

The Dow broke above the 5 day consolidation range today with strong market internals from the opening to the close.

In my pre-market analysis today, I mentioned how I was holding a long bias from yesterdays action. Yesterday price broke below value just to find strong buyers at the lower range pivot. Price was then pushed back into value.

This information hinted out a possible lift in price. Today, price gapped up above the upper range pivot. When checking the SSF's, I saw more than average volume and therefore anticipated a continuation and a official breakout of consolidation.

Therefore, it is necessary to switch trading strategies for a trending market.

My first initial trading decision was to go long at the open. My fill was 11949 at the open. TICK's opened up positive and price had gapped above a key resistance level. Market sectors were all green and SSF's showed decent volume. This was more than enough information to go long.

I had one trade for the entire day. Scaled out and held on until the close. Sometimes the opening can act as a dead low/high for the day. It is important to do your analysis, have a trading plan, and follow your plan.

See attachment for charts: