WyckoffTrader-AMTurn-06032024
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 turning in a mixed performance throughout much of the session, the major U.S. stock indexes all rallied going into the close of trading on Friday. The Dow showed a substantial move to the upside, bouncing off its lowest closing level in almost a month.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
IMPRO: Wyckoff Trader :(2:08:51 PM) : The market has turned into more of a game of soliders with the algos running the table in the president moment IMPRO: Wyckoff Trader :(2:09:45 PM) : Still the observer effect remains in effect…
As you know I've been bulls biased for a long time. What happened Friday shook out all weak hands. Seventy handles down. Who can stomach that long term? Sure, it was the Friday/End of Month/New Catalist. Shake em' out and pick up wholesale and run it back up. SOP as one trader might say.
The market was buy side for about 15 minutes till 9:45 am. Get short at that high. If were stubborn and held long. When you saw that 11 K cross the tape on 9:47 am you could not be subborn any more. Get short at the high or wait till the opening print was taken out. You could have added to your short as the close of the previous day was lost.
Neet to add some more? Well just wait till the previous day's low was lost. By 11:00 am you could have stated to see a bid come back in. At 10:55 am you could see the first sign of starenght as price gave us a small blip of a rally. Unfortunetly that rally lasted two minutes.
Price slips slides away until about 12:20 pm. Then with absollutely no notice, just starts going back up. Like a train leaving the station. Get out of that short and get long. Ideal woudl have been at 1:00 pm. And when/where would you have gotten out?
Ideal close at high of day.
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 Wyckoff Trader's analysis, here's a summary of the key levels and timeframes to consider for a day trade on the eMini futures market:
1. 9:30 AM – 9:45 AM: The market was buy-side during this timeframe, and a short position could have been initiated at the high once the 11K cross was observed on the tape at 9:47 AM.
2. 9:47 AM – 11:00 AM: The market continued to sell-off during this timeframe, and a short position could have been added to as the previous day's low was lost.
3. 11:00 AM – 12:20 PM: Price slipped and slid away during this timeframe, and a short position could have been held or added to.
4. 12:20 PM – 1:00 PM: Price started going back up like a train leaving the station during this timeframe, and a short position could have been exited and a long position could have been initiated.
5. Ideally, a long position could have been entered at 1:00 PM.
6. The exit point for the long position would depend on various factors, such as the profit target, stop loss, and market conditions. A trailing stop loss could be used to lock in profits as the market moves in the trader's favor.
It's important to note that trading based on these levels and timeframes would require careful risk management and an understanding of market conditions. Additionally, these levels and timeframes are not guaranteed to result in profitable trades and should be used as a guide rather than a guarantee.
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 NORMAL with the spill down.
News: PMI Manufacturing Final at 9:45, ISM Manufacturing Index & Construction Spending at 10:00, 3-Month Bill Auction & 6-Month Bill Auction at 11:30. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Globex found a bid at the 08 handle and now pushing toward higher highs.
7/8/9 AM: Bulls trying to pjrint higher and higher.
Today: See Actonable Trade Plan above.
Bulls Want: 18, 34, 55
Bears Want: 97, 83, 70
Globex: 23 handle trading range on 198 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.12
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) Added to longs at lunch low. LONG
Tuna (30m 1+D) Added to longs at lunch low. LONG
Sardine (5M-1D) Got short at open. Out at lunch low. OUT.
Pre Opening: Price is holding that 5308 waiting on CASH open.
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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