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!
The 8:30 am numbers set the tone for the range for the day. CPI trading on one by one’s and two by two’s. The opening bid was offered down for 20 minutes. A 50 minute rally gains back just the opening print.
A 55 minute reaction is checked at the halfway correction. This emboldens the bulls. A 105 minute rally checks the bulls and price drops to the halfway correction of the current day’s range.
Next, a 30 minute rally starts to get checked at the current intraday high. It’s 2:00 pm and price activity starts to foreshadow the bulls have overextended their reach. For the next hour and half (90 minutes) price drifts down and closes near the open.
Looking Forward January 13, 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.
After the weak close price rallied up to the 4008 handle and drifted back down. As I write price is trading 3993 handle. The day is primed as S4H series day. This day is usually a strong trend day.
Currently, price is trading just 10 handles above the halfway retracement from the high and low on the daily chart. The price activity seen in yesterday’s trade would smack of some distribution.
Providing the bulls are able to hold the bid at 3960 handle, you could see a higher high eak out. I’m not really seeing much higher. That is referenced to yesterday’s price behavior.
I’m not really seeing any news to move the needle like it was moved yesterday. If a bid does come in a good target might be the 4040 up to the 4090 handle. I’m seeing more of a Jump across the creek / Sign of Strenght. Then possibly today or next week a pullback.