WyckoffTrader-AMTurn-05142024
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)
Stocks moved to the upside early in the session on Friday but showed a lack of direction over the remainder of the trading day. The major averages eventually ended the day mixed, although the Dow closed higher for the eighth consecutive session. Wall Street partly reflected recently renewed optimism.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
This best sums up the day yesterday:
IMPRO: Wyckoff Trader :(8:41:46 AM) : good morning today is SERIES S3L NORMAL with the spill up.
IMPRO: Wyckoff Trader :(10:44:15 AM) : rope follows expansion, need a surgons scaple to trade it
IMPRO: Dboy :(10:48:22 AM) : total chop / no volume at all
IMPRO: Jim Mayo :(10:48:40 AM) : 1.5 IB extensions above 71.25 below 39.25
IMPRO: Dboy :(10:48:43 AM) : only trade so far was selling the open
IMPRO: Manny :(10:48:48 AM) : Well said. Waiting for better prices. I need minimum 10pts to justify risk. May not happen today.
IMPRO: Dboy :(10:49:16 AM) : just wait it out Im long 1 es and will add at unchanged
IMPRO: Dboy :(10:49:34 AM) : cant sell its down here in the ES
and one more:
IMPRO: HL Camp :(10:11:53 AM) : HLCamp 08:37:58 WARNING = movement in the EU = 4 handles = today will be super slow and super boring and probably not worth trading
SO, YOU GOT IT FROM THE EXPERTS.
The only trade yesterday was to have gotten short at the open and rode it down to the lows.
Wyckoff Trader,
P.S. If you've read this analysis, you might be curious when the best time to consider a position: (Sydneys / AI Read)
Based on the text, the best time to put on a trade on the eMini futures market would be:
As a seasoned trader, I'd analyze the situation and provide a retrospective assessment of the best time to have put a trade on the
Based on the information provided, as a seasoned trader, the best time to have put a trade on the eMini futures market for a day trade would have been at the open, by selling. This is because the experts mentioned that the only trade yesterday was to have gotten short at the open and rode it down to the lows.
Additionally, it was mentioned that the day was "SERIES S3L NORMAL with the spill up" which implies that the market was expected to sell-off after an initial rise. Furthermore, it was noted that there was "no volume at all" and "movement in the EU was 4 handles" which suggests that the market was likely to be slow and choppy, making it difficult to trade.
It is also worth noting that the experts mentioned waiting for better prices and for minimum 10pts to justify risk, which implies that they were looking for a significant move before entering the market.
In summary, based on the information provided, the best time to have put a trade on the eMini futures market for a day trade would have been at the open by selling, as that was the only trade mentioned and the market was expected to sell-off after an initial rise. However, it is important to note that the market was also expected to be slow and choppy, making it difficult to trade and it is always recommended to wait for better prices and for significant move before entering the market.
Additionally, it is important to keep in mind that the market can change quickly and what was a good trade opportunity at one point may no longer be valid at another. It is essential to use risk management techniques such as stop losses and position sizing to protect your capital.
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S4H with the spill down.
News: PPI-Final Demand at 8:30, Lisa Cook Speaks at 9:10, Jerome Powell Speaks at 10:00, 4/8-Week Bill Announcement, 4-Month Bill Announcement, at 11:00, 52-Week Bill Auction at 11:30. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Place your bets: higher or lower?
7/8/9 AM: Price has nearly retraced all of yesterday's range.
Today: See Actonable Trade Plan above.
Bulls Want: 61, 71, 86
Bears Want: 47, 30, 21
Globex: 21 handle trading range on 108 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.80
Shape of the day: Normal, Wedge Zoom, Link a Stink.
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Got out looking for a reason. OUT
Tuna (30m 1+D) Got out looking for a reason. OUT
Sardine (5M-1D) Got short at 10:00 am out at 11:30 am. OUT.
Pre Opening: Price droped 30 points and now trying to rebound.
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: March 25 Worm Moon 3:00 a.m. Spring Equinox March 20 5:24 pm (all times est)
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