WyckoffTrader-AMTurn-05312024
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)
After ending Wednesday's session mostly lower, stock saw further downside during trading on Thursday. The major averages all finished the day firmly in negative territory, with the Dow once again falling to its lowest closing level in almost a month.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
As the market opened the bears were getting the fire ready for bear hide. Just shy of 30K came off in the first five minutes. Traders were hesistance to get into the fray but by 10:10 am they had the confirmation they needed.
Price quickly rallies up to 10:30 am then start to turn downward. BY 10:44 am a bid starts to enter into those lows. A bid holds the low for about 21 minutes. And then, a bullish rally starts. All looks good. This day was given guarentee by the pundents that 100 percents it would be a strong up day.
And it was that is until about 11:35 am till about a hour and fourty minutes later the rally stops and starts to turn downward. No volume spike. Price just started drifting downward. Odd, there was no pressing supply. No one was running for the hills.
Price just stoped going up and started going down. There was no real story as a cataylst. Bears started gloating I told you so. Perhaps. This looks too good to be true. All this downside activity just before a major market number.
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 may have identified the best time to put a trade on the eMini futures market for a day trade at around 10:44 am, when a bid held the low for about 21 minutes and was followed by a bullish rally. This was after the initial drop in the first five minutes of the market open and a period of hesitance from traders.
However, the trader should have been cautious and closely monitored the market after 11:35 am when the rally stopped and started to turn downward, as described. Even though there was no clear catalyst for this downward trend, it's important to pay attention to changes in market direction and adjust trading strategies accordingly.
Additionally, the trader should have been aware of the upcoming major market number and the potential impact it could have on the market. This knowledge could have influenced the trader's decision to exit their position or adjust their risk management strategy.
Overall, the best time to put a trade on the eMini futures market for a day trade is dependent on various factors, including market trends, volume, and upcoming economic events. It's important for traders to stay informed and adaptable to changing market conditions.
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 S1H with the spill down.
News: US:Personal Income and Outlays at 8:30, Chicago PMI at 9:45. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Globex found a bid at the 41 handle and now pushing toward yesterdays' highs.
7/8/9 AM: Bulls trying to higher and higher.
Today: See Actonable Trade Plan above.
Bulls Want: 48, 62, 78
Bears Want: 36, 26, 06
Globex: 39 handle trading range on 208 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.68
Shape of the day: Odds and Probabilities
Honing: Spill odds down, loupie loop LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Added to longs at open. LONG
Tuna (30m 1+D) Added to longs at close. LONG
Sardine (5M-1D) Got long at open. Out at AM HIGH. OUT.
Pre Opening: Surprize, surprize, surprize. Price is closing in on yesterdays' high.
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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