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!
Earlier in the trade (day) most traders were either thinking to themselves or saying out loud; “You can do no wrong going long…” However later in the day that was quickly erased as traders scrambled to hit the bid on the way back down. Currently, we are trading 4433 handle. The bears have wiped that smile off the bulls for the past few days. I’ve been on the bearish side of the cycle this week.
Looking Forward to Friday, January 21, 2022
Do you lose yourself and go short? Do you see yesterday’s higher volume around 1.7MM as an indication we may have seen potential preliminary support?
Is reality setting in and traders are becoming more bearish than bullish? For now, the market is not giving a clear path to the least resistance.
One thing we know for sure the past few days have seen some air pockets in the bid. And algos have certainly taken advantage of the traders in the seat.
