WyckoffTrader-AMTurn-07242024
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 sharply higher over the course of the trading session on Monday, with technology stocks seeing a significant rebound following last week's sell-off. The tech-heavy Nasdaq posted a standout gain, although all three major averages moved to the upside on the day. The major averages moved roughly sideways.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
The day started out S2L. It was supposed to be a strong trend day. Most traders were waiting on the AM LOW dip to get on board for long bull run. It did not happen. Price opened slighly below Monday's settle. Sold off a bit and the poped up. Retook settle and the previous day's high.
I had R1 as resistance. I did not wait. I should have. When R1 came into sight I recovered and neted 10 points. I can feel Hank talking about. UBS markeing up and 1/4 flat. I see 7K come of on the low and close my trade. Price rally for 20 mintues to test the current intrady day high.
IMPRO: Wyckoff Trader :(10:47:03 AM) : this is not the AM LOW center time I'd hoped for : oh I agree; potential for how deep is your three
: let's see if bears can take current interday low.
After that I flipped the day to the H and get on board the SHORT side. From antoher trader (I wait for price to probe above ONH, then on a 5 min close back below sell stop above high) Yes. that would have worked too!
IMPRO: Dboy :(3:21:18 PM) : In the 3rd part of the day the NQ got tired, third part meaning after 2:00. It seems to me that when the volumes drop off the bots do this back and forth thing between the ES and NQ. Small buyers show up in the ES and the NQ goes offered.
The NQ goes bid, the ES up ticks but then down ticks as the NQ goes offered. I'm convinced that this is part of a low volume program that gets people short when its actually designed to rally. The retail sees the selling, after it's already gone down and with all the down ticks they sell into it and then the program lets up and the shorts help feed the ES higher. IMPRO: Dboy :(3:21:31 PM) : paid 12.5 on 6 es
IMPRO: Tyson :(3:22:30 PM) : unless you sold 10:30am, bought just before 11am or sold the Europe close…ES is not where you want to be today IMPRO: HL Camp :(3:23:22 PM) : Low Volume Algo? Really? HLCamp 14:20:02 Algo 1414 UBSS hitting JPMS and the bond boys
IMPRO: HL Camp :(3:23:46 PM) : HLCamp 14:21:20 sometimes when JPMS sells the low is near 2:16 HLCamp 14:21:30 low so far is 2:18
I sharred that with you to let you see that every market. Every trader. Has Their Own Opinion. And every market and every trader is right with their opinion. The rub is remembering that the market can remain wrong longer than you can remain right…
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 suggest the following based on the information provided:
1. For the morning session, it's generally a good idea to wait for the AM LOW dip before getting on board for a long bull run. However, if that doesn't happen, it's important to be patient and wait for clear resistance levels before entering a trade. In this case, you mentioned that you should have waited for R1 before entering your long trade. This would have allowed you to capture more points as the price tested the previous day's high.
2. For the afternoon session, it's important to pay attention to volume and how it affects the price movement. As mentioned by Dboy, when volumes drop off, there can be a back and forth thing between the ES and NQ. This can be designed to rally or to get people short. It's important to be cautious during these periods and wait for clear signals before entering a trade. In this case, you mentioned that you paid 12.5 points on 6 ES contracts. This could have been avoided if you waited for a clearer signal.
3. It's also important to remember that every market and every trader has their own opinion. While it's important to have your own trading plan and strategy, it's equally important to be flexible and adapt to changing market conditions. As Wyckoff Trader mentioned, the market can be wrong longer than you can remain right.
In summary, it's important to be patient, wait for clear resistance levels and signals, and be flexible in changing market conditions. Paying attention to volume and how it affects price movement can also help in making informed trading decisions.
And they want Sydney / AI robots for politicians. Can you not see she does not really understand. If she did she would have said S1L day. She just tokonizes everything and spits it back at you. The pigs are on the airstrip. Soon pigs will start to fly… (subsuite pigs for ?)
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S3H with the spill down.
News: PMI Composite Flash at 9:45, New Home Sales at 10:00, EIA Petroleum Status Report at 10:30, Survey of Business Uncertainty at 11:00, 4-Month Bill Auction & 2-Yr FRN Note Auction at 11:30, 5-Yr Note Auction at 1:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: It's a jump ball day. My lean is to the up side.
7/8/9 AM: Price has been negoating the 5550 handle and holding.
Today: See Actonable Trade Plan above.
Bulls Want: 58, 69, 78
Bears Want: 43, 27, 19
Globex: 31 handle trading range on 188 K volume.
Cycle Bias: Favored to the bear.
Tone: VIX trading at 15.37
Shape of the day: Potential W or lose you shirt day.
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Got long at the lows. LONG
Tuna (30m 1+D) Got long at the low. LONG
Sardine (5M-1D) When short at the open. OUT.
Pre Opening: Seeing some supply at the 5550 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)
Comments are closed