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!
Yesterday’s trade was no NORMAL. Yes, I said that to my subscribers. I did not take into account two hours of total downside pressure. IMPRO: Wyckoff Trader :(10:16:18 AM) : Spill down seal 10:05 some residual bear (selling pressure). Next window AM HIGH. And we got that really quick early and weak.
Like 10 minutes quick. That’s not what you want to see on the last day of the cycle. That’s early and weak. Don’t you just love that fight uphill battle when you are long and you just want to get out?
And to add fuel to the fire you have to get it during the lunch slog?
If you draw an apex from that 11:30 am low up to 11:55 high, you’ll see that it resolves to the upside. That set’s the up-trend supply line, say at 12:20 pm. Now the bulls have something to work with.
That up move from 12:20 pm tagged some volume. The test of the supply line confirmed the break. However, Wyckoff Trader :(12:00:00 PM) : Yes this is no normal; selling pressure is constant
IMPRO: Wyckoff Trader :(12:55:02 PM) : lunch window still open, could get a higher high than 3790 handle
And it did. That’s the power of WB’s Clock!
Looking Forward September 23, 2022
Due to recent changes in market behavior I’ve decided to change my focus to Time based trading. This allows you to benefit from the flow of the arrow of time and not fight against the algos in the nanosecond.
Perhaps I’m just an eternal optimist but yesterday I kept seeing a bid come in at the 3775 down to the 3770 handle. Maybe it was temporary so they could hit it as they did on the close.
That also caught that supply line from the Globex highs. After a weak close, Globex rallied up to the 3780 handle and then dipped to wetbeak CASH real time low.
Currently, we are trading at the 3770 handle. Could we go down lower? Yes? Could we go up higher? Perhaps but the talking points are going to have to change. This Inflation / Interest Rate Fed talk is depressing the bulls and emboldening the bears.
If we lose that 3750 handle it could open a drop to 100 handles lower down to the 3650 or more. I’ve heard talk of a DOW 25K before 40K.
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