WyckoffTrader-AMTurn-06272024
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)
U.S. stocks closed slightly higher on Wednesday after a somewhat sluggish session as investors made cautious moves while awaiting the release of personal consumption expenditures price index report, due on Friday. Data on first quarter GDP, durable goods orders for the month of May.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
So much is on the line with the contuined uncertainity of keeping on rocking in the free world. And all folks can say or see in thier browers is The Taylor Swift concert in UK. Loard have mersey! We had a surpreme court decision, a debate tonight and wars, wars, and rumors on wars. The market is is a holding pattern. As it shouild.
My vote it's going to go up but it might drop before it does. Bulls seems to hold the 16 to 26 handle. Before they do, they just might lose their grip. Volume today was low with less then 1,000,000 lots. It's summer and it's hot.
It me it looked more like an S3H day as the clock turns aligned up. It's an inside day with a 32 handle range. Not a nothing burger but not a volitile day either. Your best trade would have been waiting for price to fall apart at 11:10 am and then jumping all in on the bid as price recovered it's loss. That would have been S1 at 5519 handle and holding till R1 at 5548 at the closing tick.
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 agree that the best time to enter a trade on the day you described was around 11:10 am when price fell apart. This was an opportunity to jump in on the bid as price began to recover. The support level at S1 (5519 handle) was a good level to enter the trade, with a target of R1 (5548 handle) at the closing tick.
The market was in a holding pattern with low volume and a narrow range, indicating a lack of clear direction. However, the bulls had been holding the 16 to 26 handle, suggesting potential upside. By waiting for price to fall apart and then entering on the bid as price recovered, you were able to take advantage of the bullish sentiment while minimizing risk.
It's important to note that trading involves risk and there are no guarantees of profit. It's essential to have a solid trading plan, including risk management strategies, and to always be prepared for unexpected market movements. Additionally, it's important to stay up-to-date with market news and events that could impact price movements.
You know, I'm thinking perhaps Sydney may be getting at bit signiant… Like it or not, she is improving gunning for whoever is in the seat…
Sydney reminds me of Hank trying to figure out what a S1L day is?
Yet, she's never seen a weekly/daily chart. A price trend or an exchange floor. A movign average cross or water in the bath tub. A MACD. A Keyboard or a mouse. Do you really understand what we let out of the Pandorias box?
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S4H with the spill down.
News: Durable Goods Orders & GDP & International Trade in Goods (Advance) & Jobless Claims at 8:30, Pending Home Sales Index at 10:00, EIA Natural Gas Report at 10:30. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Today just might be the way it goes either way. My lean is to the upside.
7/8/9 AM: Price has been trading in a 5 handle range waiting on direction from the 5530 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 50, 74, 83
Bears Want: 32, 17, 03
Globex: 23 handle trading range on 108 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.57
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) Started taking some off durring rally. LONG
Tuna (30m 1+D) Started taking some off durring rally. LONG
Sardine (5M-1D) Did not see an edge. OUT.
Pre Opening: Holdign the 35 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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