WyckoffTrader-AMTurn-07262024
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 saw some heavy selling in the final hour of the session on Thursday as the mood turned a bit cautious amid concerns about mega-cap firms' earnings. Among the major averages, the Dow managed to settle higher, gaining 81.20 points or 0.20 percent at 39,935.07, a long way down.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Hundred point range yesterday. Can you belive it? A 100 point range! And where did price go? Back from whince it came. And what was the volume? Twice the volume… And who looked more presidential for the photo shoot? Can you imagine how/what WB would be saying today?
It seems the only qualification to be the POTUS in this current 2024 realiety is who can read off the teleprompter with out getting hit by the telepromptor. No, I would not read that story but that's what they are saying.
My father had a sermon where the talked about doing the basics in life. He used an example by from his perspective was Vince Lombardie. Simply put, to win the game of football it's decided by which team did the basic of blocking and tackline to most consistent. And that really describes my trading yesterday.
Blocking and tackling. It's really simple. Move that stop once you're in profit. Don't Montie out. Don't change the stop. I's sure you as most traders are in profit and them the next they are not. The low yesterday was 5432 handle. I got in at 5442 at 10:03 am. Just as price was lifting off from the bottom. I'm in profit at those highs but I don't see it.
I was intrupted and walked away. Sure those bulls would hold it up. Did they? I keps my stop in. Who would have thought they'd let it go all the way back?
Many lessons to have been learned yesterday. Jessie L. would say; "Each day the market teaches me a new lesson." Had I just waited till S1 was touched, I could have saved myself from those other two trades that got stoped out. I jsut glad I did not get stupid and move the stop. And I saw the volume. Even at the open. Note to self higher volume equals higher volitility. Did I mention it was a 100 point range yesterday.
I'm thinking the down move is over. The bulls got themselves overbought. I could count out the mintues and time and talk about drawing support and resistance. Had I did that yesterday. I might had had that profit on the upside and then perhaps on the downside also….
Did I mentioned I was called away. Yea that cost me a lot in lost opportunity!
Wyckoff Trader,
Today starts the cycle anew again. And what did Globex do? Currently at the 20 handle rally. Traders are talking about 5300 and below now. I dont' see it but then again I rarerly do…
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S1H with the spill down.
News: Personal Income and Outlays at 8:30, Consumer Sentiment at 10:00. 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 5484 handle and holding.
Today: See Actonable Trade Plan above.
Bulls Want: 03, 18, 28
Bears Want: 72, 64, 52
Globex: 44 handle trading range on 188 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 17.46
Shape of the day: Odds and probabilitiies
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Bailed on thier long position. OUT
Tuna (30m 1+D) Bailed on thier long position. OUT
Sardine (5M-1D) When short at the open. OUT.
Pre Opening: Seeing some supply at the 5484 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)
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