WyckoffTrader-AMTurn-06042024
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 a positive start and a subsequent retreat that resulted in a fairly long spell in negative territory on Monday, U.S. stocks recovered in afternoon trades and ended the day's session on a mixed note. Data showing a contraction in the nation's manufacturing activity in the month of May hurt sentiment.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
The market opened up after trading in a tight range of potential distribution all weekend. If you were looking for a trade to go short, the open was the best location. If you wanted to add to that position, guess what? The AM HIGH would have been the best location. The best location to start a new position or add to an existing position.
Price trades down for about 35 minutes as a bid starts to enter in. A small really emerges for an hour. At 12:00 pm if you wanted to add to your esixting short that was the place. The SLOG is starting and the supply line is keeping the bulls in check.
Another 35 minutes later (are you starting to see a pattern) emerges as a bid enters in. Price is held for another 35 minutes a a spring for a 10 handle dip is unable to gain a following. Price quickly responds by 1:30 pm price is on the upper end of the supply line.
IMPRO: Wyckoff Trader :(1:31:47 PM) : volume increasing with price extent (not sure anyone knew what I was talking about)
Get out of your shorts and get long the market. This thing is going back up!
The lunch high is sealed at 1:45 pm a recovers just above the MID AM LOW. It's the end of the cycle. Thirty minutes later the mid pm low seals holding above the 1/3 retracement. At 2:40 pm a bid starts to enter into the market once again. The next turn is the LAST HOUR HIGH.
BULLS do not dissapoint. ON the closing pirnt 100K come in was it buying or selling?
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 you provided, it sounds like there were several potential opportunities to enter and exit trades on the eMini futures market during the day. Here is a summary of the potential trade locations you mentioned:
* At the open, if you were looking to go short, this could have been a good opportunity as the market opened up after trading in a tight range over the weekend.
* At the AM high, if you wanted to add to an existing short position, this could have been a good opportunity as the market may have been near a resistance level.
* At 12:00 PM, if you wanted to add to an existing short position, this could have been a good opportunity as the market was showing signs of a downtrend.
* At 1:30 PM, if you wanted to exit your short position and go long, this could have been a good opportunity as the market was showing signs of a reversal.
* At the lunch high, if you wanted to exit your long position, this could have been a good opportunity as the market may have been near a resistance level.
* At the mid PM low, if you wanted to enter a long position, this could have been a good opportunity as the market was showing signs of a reversal.
* At 2:40 PM, if you wanted to enter a long position, this could have been a good opportunity as the market was showing signs of a reversal.
* At the last hour high, if you wanted to exit your long position, this could have been a good opportunity as the market may have been near a resistance level.
It is important to note that these are just potential trade locations and that actual results may vary. It is always important to have a well-defined trading plan and to use risk management techniques to protect your capital.
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: Factory Orders & JOLTS at 10:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Globex found a bid at the 70 handle and now pushing toward higher highs.
7/8/9 AM: Bulls trying to take out the weekly pivot of 5280 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 92, 12, 23
Bears Want: 87, 63, 52
Globex: 41 handle trading range on 208 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.71
Shape of the day: Odds a probabilities.
Honing: Spill odds spill down, loupie loop, LAST HOUR ODDS HIGH
Bill Fish (4H/4D) Added to longs at mid pm low. LONG
Tuna (30m 1+D) Added to longs at mid pm low. LONG
Sardine (5M-1D) Got short at open. Out at mid am low. OUT.
Pre Opening: Price is holding that 5280 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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