WyckoffTrader-AMTurn-06172024
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 saw modest weakness throughout much of the trading session on Friday but recovered to end the day roughly flat. The tech-heavy Nasdaq bounced back and forth across the unchanged line before eventually ending the session at a record closing high.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
If you had gotten long at the start of the contract and held to the end you'd made about 610 to 754 points on average. If you look at the last two contracts. That's about $30,000 but you would have had to fight Hank's ALGO every step of the way!
This market is going up on illusion. Dont' they all? AI drove it as the next new shiney. The greatest thing since fire. Which concerns me very much cause fire was not invented by man. It was stolen from the gods. Which makes you wonder where AI fell from?
The contract changes. Will he/they? Won't he/they. The FED decision is second guesing the mind of the traders. All those levels got blowed out Friday. BY my eye, it was just a CASH grind up waiting for the bottom to fall out. The volume was changing over to the next contract. Premium jumped along with price on some traders screens.
Levels that was locked in straight line were needed to be adjusted. And some traders just took the day off cause it was a Friday. And the best indication was the Damian was singing the praises of the SHORTS. Perhaps he is right price has already traded Monthly R1. How high do you want this market to go?
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)
A seasoned trader's perspective! Let's dive into the analysis.
From the text, it seems that the author is a day trader who focuses on the eMini futures market. They're sharing their insights on the market's behavior and offering a cautionary tone.
To answer your question, the author doesn't explicitly state the best time to enter a trade. However, we can extract some valuable information from the text:
1. The author mentions that the market is going up on "illusion" and that AI might be driving the price action. This suggests that the market might be overbought and due for a correction.
2. The author notes that the contract changes and that the FED decision is second-guessing the traders' minds. This implies that market volatility might increase, making it challenging to predict the market's direction.
3. The author mentions that the levels got "blown out" on Friday, indicating that the market might be due for a pullback.
4. The author also mentions that the premium jumped along with the price, suggesting that some traders might be getting caught up in the market's momentum.
Considering these points, a seasoned trader might look for opportunities to short the market or take profits on long positions. However, it's essential to remember that the market is unpredictable, and even the best traders can get caught off guard.
In terms of the best time to enter a trade, it's difficult to pinpoint a specific time without more information. However, a seasoned trader might look for opportunities to trade during periods of high volatility, such as:
1. During or immediately after major economic announcements, like the FED decision.
2. During periods of high trading volume, indicating increased market participation.
3. When the market is experiencing a significant price move, potentially indicating a trend reversal.
Ultimately, the best time to enter a trade depends on the trader's strategy, risk tolerance, and market analysis. A seasoned trader would need to carefully evaluate the market conditions and adjust their strategy accordingly.
Not sure Sydney gets the full grasp of what is going on but you be the judge. Before you assign any intelligence it's important to understand that she just tokenizes ever word and then just reassembles the words based upon likehood of order.
I THINK SHE NAILED IT THIS TIME!
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S2L with the spill up.
News: Empire State Manufacturing Index at 8:30. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Traders are asking themselves; "How LONG can this thing go?"
7/8/9 AM: Price diped just below the big even and found a bid.
Today: See Actonable Trade Plan above.
Bulls Want: 08, 17, 29
Bears Want: 93, 88, 72
Globex: 16 handle trading range on 218 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.09
Shape of the day: Potential inside day.
Honing: Spill up, AM LOW, (no mid am), lunch high, mid pm low, LAST HOUR HIGH
Bill Fish (4H/4D) Started taking some off durring rally. LONG
Tuna (30m 1+D) Started taking some off durring rally. LONG
Sardine (5M-1D) Stayed out all day. Out at close. OUT.
Pre Opening: No real responce to news. Just holdign on to big even.
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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