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!
IMPRO: Trader :(8:49:26 AM) : remind me what the SPILL is Wyckoff?
IMPRO: Wyckoff Trader :(8:51:24 AM) : it’s spill over from the last hour
IMPRO: Wyckoff Trader :(8:51:50 AM) : of previous day trade
A lot of traders have been asking about the clock.
IMPRO: Trader :(8:53:21 AM) : is that a predictor for price action today?
IMPRO: Wyckoff Trader :(8:54:19 AM) : actually it depends upon the day; looking to see where the spill seals might give you an indication
Here’s how to look at yesterday’s CASH trade using the Lens of Wyckoff and WB’s clock. The clock that controls all turns intraday every day.
Before the open Globex had tagged a higher high: From the AM TURN PROSE and The Numbahs Last Night Globex: Drifted down a bit. Held the 4150 then challenged a higher high.
This set up a reaction so before opening, we were already residual bear.
On the spill, we were looking spill high due to the last hour’s run.
The reaction was sealed at 9:40 am. The spill up spilled over into the AM TURN so it was residual bull. Spill sealed at 10:05 to 10:10 am. This sets the high and the marker for the high of the day. The S3L day: (from AM TURN) Visual: Rope follows expansion. Tight trading range. WB used three displaced moving averages so, it looked like a rope as each moving average overlapped the other. He called it his ALGO.
Shape of the day: Friday could be the high of this run or today with mid pm high. The high of the day was the spill seal. The AM LOW came in center time at 10:40 am which was the pivot. At 10:50 am the downtrend supply line was penetrated.
A quick move up to 11:00 am then a 40-minute move back down tests the supply line and confirms the downtrend (for now) is over. The inability to take out the spill seal high tells us the Composite Man is not willing to absorb the overhanging supply. This is the characteristic of the S3L day.
IMPRO: Wyckoff Trader :(10:08:31 AM) : Yes that more a S3L bullish day; hold what you got. WB would say; IMPRO: Wyckoff Trader :(11:57:32 AM) : yes rope follows expansion need a surgeon’s scapple to trade; MID AM HIGH window closed; next lunch low
After the MID AM high seals we are looking for the lunch low. So, where do you think that was? That’s right around 12:50 pm a higher low. Next, we are looking for the mid-pm high. After the rally from the lunch low price is checked keeping the bulls at bay.
Some residual bull emerges for about 15 minutes then the LAST HOUR LOW at 3:45 pm. The cycle ends today. If you were long say 4116, as I am then you’d want to exit at the AM HIGH, lunch high, or LAST HOUR HIGH.
It’s not a given. This day has three doors. Close two and open one.
Looking Forward August 4, 2022
The cycle has four days and this day ends the cycle. It’s a big numbers day. The spill is down and the AM TURN is HIGH. If it looks like the bulls are not able to bring it. WB might have said, he was giving free lobotomies. That was his code word for saying; “You might want to take your profit…”
This day has three doors. Normal, Wedge Zoom, and Link a stink. If you are holding a trade then you might want to wait till the AM HIGH. This is if it’s a NORMAL day. If a strong bullish day. Then the lunch or LAST HOUR might be to your liking.
That 8:30 number is really going to set the high or low water mark.
If it’s a Wedge Zoom, we call that a Debbie day. It could be a nail-biter waiting for “the lone ranger” to save the day as the fourth reel is put in place. If it’s a Link a Stink, then you’d be praying for a spill up but it won’t be, it’s spill down today…
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