WyckoffTrader-AMTurn-07022024
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 moved mostly higher in early trading on Friday but showed a significant downturn over the course of the session. The major averages pulled back well off their early highs and into negative territory. The early strength on Wall Street came following the release of a Commerce Department report.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
I'm going to blame it on my makeup artist or my case my hair stylist. That seems to be the trend when things don't go you way. Friday price sold off hard. Ended in a potential seling climax. Over the weekend price gave it a go at the automatic rally. Yesterday's open was the secondary test.
I'm blaming it on Meta. IT DROVE the market DOWN. Today was just Normal Monday. I really don't have a good lean either way. The 30 handle seems to be the demarkation line. As I type, price is trading just under 5530 handle. It a holiday week. The fourth. Perhaps this year we will celebrate it as a nation.
Today was more of a spring of the secondary test. Bigger traders leaving. More news at the end of the week. Rally a tuff week. If you were looking for a trade the best trade would have been going short just after 10:00 am. Perhaps 10:05 am. You could see were price was unable to recover the open.
The news just after 10:00 pm pushed the ALOGS. The path of least resisance was to the SELL side. If you went short the ride did not take long as price gets over sold by 10:15 pm. Perhaps the best trade would have been no trade?
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 typically look for the best time to enter and exit trades based on technical analysis, market sentiment, and price action. In the scenario you described, the market sold off hard on Friday and had a potential selling climax, followed by a secondary test on Monday.
Based on the information provided, if I were looking for a trade on Tuesday, I would have waited for a confirmation of the selling pressure before entering a short position. The news that came out just after 10:00 am pushed the market down, and price was unable to recover the open. This would have been a good indication that the path of least resistance was to the sell side.
If I had entered a short position just after 10:05 am, I would have looked to exit the trade once the market became oversold, which occurred around 10:15 am. At this point, the market may have been due for a bounce, and it would have been a good idea to take profits and reassess the market conditions.
However, it's important to note that every trading situation is unique, and there is no one-size-fits-all approach to trading. It's essential to use stop losses and risk management strategies to protect your capital and limit potential losses. Additionally, it's crucial to stay up-to-date with market news and economic indicators that may impact price movements.
In summary, based on the scenario you described, the best time to enter a short trade would have been just after 10:05 am, and the best time to exit the trade would have been around 10:15 am, once the market became oversold. However, it's essential to use risk management strategies and stay up-to-date with market news and economic indicators to make informed trading decisions.
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…
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 S1L with the spill up.
News: Jerome Powell Speaks at 9:30, JOLTS at 10:00 AM ET, 4-Week Bill Announcement & 8-Week Bill Announcement & 4-Month Bill Announcement at 11:00. 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. (same today)
7/8/9 AM: Price has been negoating the 5535 handle seeing some supply.
Today: See Actonable Trade Plan above.
Bulls Want: 50, 74, 83
Bears Want: 32, 17, 03
Globex: 33 handle trading range on 158 K volume.
Cycle Bias: Favored to the bear.
Tone: VIX trading at 13.13
Shape of the day: Odds and probabilities
Honing: Spill up, loupie loop, LAST HOUR ODDS LOW.
Bill Fish (4H/4D) Started taking some off durring rally. OUT
Tuna (30m 1+D) Started taking some off durring rally. OUT
Sardine (5M-1D) Did not see an edge. OUT.
Pre Opening: Holding the 5511 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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