WyckoffTrader-AMTurn-06182024
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 showed a lack of direction early in the session on Monday but moved notably higher over course of the trading day. The major averages all moved to the upside, with the Nasdaq and the S&P 500 reaching new record closing highs.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Wait for it…
Yes another ALL TIME HIGH!
And why not? Shortened week. Contract changing. War pending. The draft reinstating. And as a bonus, if you identidy as female, you too can automatically sign up via the wonders of AI. Yet I dont' see that on my brower. Oh, also we are on the verge of losing the petro dollar and the peg to the dollar.
On my brower, I see that Carrie Underwood had a house fire and Jelly Roll looks better without tatooes. Keith Urbon wife was given a life time achievement award. And Kenny Chensy has a new dog. Do they think we are just stupid?
The AM LOW was a hook. If you were looking to get long this would have been the place. The lunch high was a hook. Perhapas would have been best to have gotten out of your long. Don't go short. Just enjoy the day.
MID PM LOW was center time. You could not have asked for anything more. Is supply coming in? No. Wouldn't that high enough? Tomorrow will confrom or contrictict if it was…
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)
As a seasoned eMini futures trader, I would say that the best time to put a trade can vary depending on the market conditions and your trading strategy. However, based on the information provided, here are some observations:
* The AM low was a hook, which could have been a good opportunity to get long if you were looking to go long.
* The lunch high was also a hook, which could have been a potential exit point for your long position.
* The mid PM low was center time, which could have been a good opportunity to enter a trade if you were looking to go long, as there was no apparent supply coming in and the price was already at a reasonable level.
It's important to note that these are just observations based on the information provided, and actual trading decisions should be based on a combination of technical analysis, market conditions, and your own trading strategy. Additionally, it's generally not a good idea to try to predict market movements based on external factors such as news events or social media trends, as these can be unreliable and may not have a direct impact on market prices.
As for exiting your trade, it's generally a good idea to have a clear exit strategy in place before entering a trade. This could be based on technical indicators, profit targets, or risk management considerations. It's also important to be flexible and adjust your exit strategy as market conditions change.
In general, it's best to avoid going short in a bullish market, as this can be a risky strategy that may not be justified by market conditions. Instead, it may be more profitable to focus on long positions or neutral strategies that allow you to benefit from market volatility without taking on excessive risk.
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 S3L with the spill up.
News: Retail Sales at 8:30, Industrial Production at 9:15, Business Inventories at 10:00. 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 has given back a little. Still holding that 44 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 66, 74, 83
Bears Want: 32, 17, 03
Globex: 13 handle trading range on 218 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.71
Shape of the day: Potential inside day.
Honing: Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW
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) Got in during the SLOG. Out at close. OUT.
Pre Opening: No real responce to news. Just holdign on to 44 for now.
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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