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!
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!
Most traders entered into the market yesterday expecting price to fail and fall through supports. It was more like “bag holding” with price getting a bid on the bottom and losing it’s following at the top. The clock was muddied with barely 20 handle range.
A nothing burger day. I went with S1H day cause I was just not seeing any bigger hands selling their positions. And the more traders that try to short the market just keeps the market with intrinsic support when needed.
After settle was printed price started to rally to probe into the current day high. It’s all about gaining a following and getting that following to list those offers at the highs. Yesterday price just did not have it at the highs.
Now as I type GLOBEX has tested the 3849 handle and not a penny higher. Price is on a slight downtrend.
Today we could spring lower. Perhaps a #1 or #2 spring. A #3 spring would not be good if you are holding long. Of course, if we did that it would indicate the clock flipped and maybe trading S2H instead of S2L Series day.
I heard some indicate the market was trading in tandem with the House “Speaker” uncertainty. I’m not really sure if that was a driver or not.
Perhaps the economy is just really really bad. Perhaps Tech Sector was overloaded and techies were too more at the office.
Changes are next week might heat up and the market may start to set up and start taking notice of a direction.
Looking Forward January 6, 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.
This one is a toss-up. Yes we could go up and yes we could go down. If we go down, you could see support enter into the market soon. If we go up, the following may quickly diminish.
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