WyckoffTrader-AMTurn-06052024
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 fluctuated over the course of the trading session on Tuesday before eventually ending the day modestly higher. The major averages all finished the day in positive territory following the mixed performance seen on Monday. The yield on the benchmark ten-year note closed lower for the fourth session.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
The was S1H day. I felt they were buying. Most traders felt they were not. Price did not appear to confirm. Price opens below the high and close of the previous day. A buy comes in at 9:35 am and then just fades away. Price trades around the daily pivot going no where.
At 10:00 am, a bid comes in on 20K and Hank's algos just slam it back down. The range is 12.25 handle. The long trade is not in play. It's going short at the AM HIGH. No trader could have cought that. So they had to wait. A down move to 10:15 am set's it up. A rally up to 10:45 am is checked for 5 minutes.
This is the place to get short. A move down for 15 minutes down and a move back up to for 30 minutes is unable to take out the intraday high. Bulls are unable to gain a following and bears take the lead. A drift down for 90 minutes follows. At 12:10 pm a bid starts to slip in. Traders were saying in chat this is the place where the spike occured Friday. Of course it was!
If you are short, get out of your trade. If your not,
get long, cause this thing is going back up!
A 40 minute up move just nibs the opening print. A 20 minute down move barly probes the spill down low. If you want to add to that long position or looking for all the planets to align up, this is the place. Next a 20 minute up move and 5 minute down move follows. Add to your position.
A 30 minute up move starts to get checked as traders get short. And then a impluse buying wave sets in a takes out the current intraday high.
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)
Here are the reasons why the short and long entries were made:
**Short Entry (10:45 am)**
• The market had rallied up for 5 minutes, indicating a potential top
• The bulls were unable to gain a following, and the bears took the lead
• The market was showing signs of weakness, making it a good spot to short
**Long Entry (12:10 pm)**
• The bid started to slip in, indicating a potential reversal
• Traders noted that this was the spot where the spike occurred on Friday, suggesting a potential turnaround
• The market was showing signs of strength, making it a good spot to go long
**Add to Long Positions (12:30 pm and 1:05 pm)**
• The market had rallied for 20 minutes, indicating a potential continuation of the trend
• The market was probing the spill down low, indicating a potential test of the previous low
• The bulls were gaining momentum, making it a good spot to add to long positions or look for a potential long trade
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 S2L with the spill up.
News: ADP Employment Report at 8:15, PMI Composite Final at 9:45, ISM Services Index at 10:00, EIA Petroleum Status Report at 10:30, 4-Month Bill Auction at 11:30. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: PEONS got themselves over thier skies and found supply at the R1 5320 handle.
7/8/9 AM: Bulls finding supply at the 5320 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 21, 29, 38
Bears Want: 06, 95, 80
Globex: 20 handle trading range on 158 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.98
Shape of the day: Potential for how deep is your three.
Honing: Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH
Bill Fish (4H/4D) Added to longs at open. LONG
Tuna (30m 1+D) Added to longs at open and lunch. LONG
Sardine (5M-1D) Got long at lunch. Out at close. OUT.
Pre Opening: Price is finding supply at R1 5320 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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