WyckoffTrader-AMTurn-05282024
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 downturn seen over the course of the previous session, stocks showed a strong move back to the upside during trading on Friday. The tech-heavy Nasdaq led the rebound, surging to a new record closing high. The rebound on Wall Street came as traders looked to pick up stocks.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
A heavy sell off Thrusday. And Friday, potential automatic rally. Price gaped up and held the bid. At 10:00 am algos woke up the bull. If you were waiting on a sign, that 11 handle pop on 16K lots would have been the sign. The day was S1H. That pop up would have been the confirmation.
Some traders were hesisant to step up and get on board. That all changed at 10:45 where after a 10 minute pull back held the bid at just above the halfway retracement.
If you were looking for a great place to get long the market, this would have been the place. A 30 minute up move lifts all the offers. The Composite Man is lifting all the offers up to 11:15 am and checkes the bulls run.
Sure it was a three day weekend. Some bigger traders may have left early and let the B team take over. From my perspective there realy is not B team. It's all algos. Did they leave for the hamptons?
Price has recovered about half of the range of the previous day. Thursday we had a potential selling climax. Friday an Automatiac Rally. Perhaps today may be the secondary test. Currently, price is holding the highs.
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 information provided, a seasoned trader looking for a day trade on the eMini futures market may have identified the best time to put a trade on Friday at around 10:00 am, following the 11-handle pop on 16K lots. This pop could be interpreted as a sign of renewed buying interest and a confirmation of the potential automatic rally.
Additionally, the 10-minute pullback that held the bid at just above the halfway retracement at 10:45 am could have provided another opportunity to get long the market. This move was followed by a 30-minute up move that lifted all the offers, indicating strong buying pressure.
It's worth noting that the composite man (a term used to describe the collective behavior of traders and algorithms) was lifting all the offers up to 11:15 am, suggesting that the bulls were still in control of the market.
Furthermore, the fact that price had recovered about half of the range of the previous day and was holding the highs could be interpreted as a bullish signal, indicating that the market may have reached a bottom and could be poised for a secondary test.
Overall, a seasoned trader may have identified the best time to put a trade on Friday morning, taking advantage of the renewed buying interest and strong bullish momentum. However, it's important to note that trading involves risks and careful risk management strategies should always be employed.
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" (WOW. She nailed that one. She's getting to be a better trader each day)
good morning today is SERIES S2L NORMAL with the spill up.
News: Not rally much to move the market today. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: It's been a three day weekend.
7/8/9 AM: Price is now trading at 5330 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 37, 46, 62
Bears Want: 15, 08, 97
Globex: 27 handle trading range on 208 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.48
Shape of the day: It's iffy due to a three day weekend.
Honing: Spill down, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Added to longs at CLOSE. LONG
Tuna (30m 1+D) Added to longs at CLOSE. LONG
Sardine (5M-1D) Got long at open. Out at close. OUT.
Pre Opening: Seeing some buying entering in at the 27 handle.
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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