WyckoffTrader-AMTurn-04012024
YES. I have skin in the game. I trade my own personal account. Sardine / Tuna / Billfish trades are for educational purposes only. I am NOT a futures broker and do not manage any accounts. It is my intent to show where trades may occur. What you do is up to you. You can follow my IDEAS to profit or loss. You determine trade size, when, where and how you trade. (CFTC) Futures is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest, know how much you can afford to lose.
NEWS / FUNDAMENTALS
(Reuters)
Following the strong upward move seen late in Wednesday's session, stocks showed a lack of direction over the course of the trading day on Thursday. Despite the choppy trading, the Dow and the S&P 500 reached new record closing highs.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
It was the day before a three day holiday weekend. The B-Team traders were in the seats Thrusday. Today is Monday. We've had a three day holiday weekend. How do you thinks it ends?
This is what I had on page three Actionable Trade Plan:
"II. Trade entry – Price should hold the 5294 weekly piovt. If price dips, I'm getting long. Currently the Weekly R1 5305 is trading. I'm getting long at the open. Stops 1% of account valume.
III. Trade exit – I'm looking for price to hold Weely R1 and trade up to Weekly R2 5320 handle. Take half off. Take remaining off at Weely R3 5344 handle or exit all position on close.
It's a holiday trade before Easter. The B-Team Retail traders are trading today."
I'll admit, I was a little agressive on that R3 5344 handle. The R2 However got taged in the last hour, straight up 3:30 pm.
If you were looking for the best place to put the trade on, it would have been in the Afternoon Trade. You can see price has been supported twice eariler in the day. At 9:40 am. At 1:40 pm. And at 2:40 pm. Who would have thought? Do you see a pattern here?
For the next 15 minutes price starts to lift on increased volume. Notice at 3:00 pm the opening range high has been taken out. Then a dip for 10 minutes retraces just half of the rally. A move up for 20 minutes tags the Weekly R2 5320 handle. Who would have thought? It was on page three on the Actionable Trade Ideas.
Wyckoff Trader,
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S1H with the spill odds down.
News: PMI Manufacturing Final at 9:45, ISM Manufacturing Index at 10:00, Construction Spending at 10:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Day after Easter holiday, and start of new month / new week.
7/8/9 AM: Price has held the 5328 R1 all night.
Today: Could see a move up to challenge the 5296 handle.
Bulls Want: 96, 05, 20
Bears Want: 81, 72, 48
Globex: 21 handle trading range on 108 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.08
Shape of the day: Odds and probabilites. With ballance goign to bulls.
Honing: Spill odd down, loupie loop, LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Added some longs at the close. LONG
Tuna (30m 1+D) Added some longs at the close. LONG
Sardine (5M-1D) Stayed out looking for an edge. OUT.
Pre Opening: Price has drifted back into last weeks range. Holding for now.
The clock is used for timing your entries and exits. Position long at the lows exit at the highs. Get short at the highs buy in at the lows. When the trend is in, WB's clock is your friend!
Your edge is a series of trades, not just one trade or one day.
Dates: February 24 Snow Moon 7:30 a.m. Spring Equinox March 20 5:24 pm (all times est)
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