Disclaimer: For educational use only. I’m not dispensing financial advice. We are having an intellectual conversation (you and I) on the topic of trading the Emin futures using the Lens of Wyckoff Principles and the Eyes of WB’s clock. The clock that controls all turns intraday, every day!
I have one word. Transitory. What happened to that word. Blame it on Retail or Putin. Take your pick? They released the Cracklin 178 and he tore up Jack. No disrespect to Jack but Jack didn’t do… Quickly price ripped back down to test the lows.
This emboldened the bulls and price found a higher high. Only to be rejected toward the end of the day. Before the open Globex price tested to lows of 5/12. I’d perfect to see that during RTE CASH. And so did a lot of other traders.
Looking Forward Friday, May 20, 2022
I have the cycle as bearish but it’s a Friday. And price has been trading on bad news all week long. Jessie L. might say; “Potential for a rally?” These are not Jessie’s markets. He was great in the bucket shops the pits took him to the cleaners.
By my eye, you might see a test of the lows around the open. This would be the best before the marking-up campaign. If there is to be one today.
There is nothing really to move the needle news-wise. Currently, we are in an uptrend looking at a series of higher highs and higher lows.