WyckoffTrader-AMTurn-04112024
YES. I have skin in the game. I trade my own personal account. Sardine / Tuna / Billfish trades are for educational purposes only. I am NOT a futures broker and do not manage any accounts. It is my intent to show where trades may occur. What you do is up to you. You can follow my IDEAS to profit or loss. You determine trade size, when, where and how you trade. (CFTC) Futures is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest, know how much you can afford to lose.
NEWS / FUNDAMENTALS
(Reuters)
Stocks moved sharply lower in early trading on Wednesday and continued to see significant weakness throughout the session. The major averages all showed notable moves to the downside, with the Dow falling to its lowest closing level in almost two months.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Ok before the numbers this day was an S2L day. Then after the CPI numbers a S2H day. You never know. The last hour Tuesday was smoke and mirrors. The minute after the CPI number Wednesday was smoke and mirrors. Is there ever a bid or offer in the market? Who ever was holding a 5290 one lotter, took on some major heat just a minute away.
One thing I know for sure is that AM HIGH came in right dead on center time 10:30 am maker. And that S1 was in the Algos sights. There is no MID AM we are looking for the lunch low. And that makes it a long day for the bulls.
If you were looking to get short that AM HIGH was the place. And where do you exit? How about the lunch low? How about 1:10 pm? Next the mid pm high? That would have been a hook about 2:15 pm. Next LAST HOUR LOW. That seals about 3:05 pm early and weak.
In all the madness yesterday, the clock showed the way. I often get lost in the drama and forgot to focus on the light of WB's clock.
I'll admit, the 100 plus drop took my eye off the price. If you just believed in the clock. And if you flipped it, the AM HIGH was perfect. Algos levels. This is that day that you learn from. Get short at the AM HIGH and hold till the lunch low. Remember, there is no MID AM turn so more time to run.
If you just took that one trade you would have nailed a 40 point run. The range of the day.
Wyckoff Trader,
P.S. If you've read this analysis, you might be curious when the best time to consider a position: (Sydneys / AI Read)
Based on the information provided in the text, a seasoned trader looking to day trade the E-mini futures market might have identified several potential entry and exit points for a short trade.
The trader notes that the AM High came in right on time at 10:30 AM CT, which could have been a potential entry point for a short trade. This level was identified as a maker level and was also in the Algos' sights, suggesting that it could be a significant level of resistance.
The trader also notes that there was no mid-morning turn, indicating that the market may have had more time to run higher before reaching a potential turning point.
The next potential exit point for the short trade could have been the lunch low, which was expected to occur around noon CT. This level was identified as the S1 level, which could have been a potential support level.
If the trader missed the lunch low, they could have looked for the mid-pm high, which was expected to occur around 2:15 PM CT. This level was identified as a potential hook, which could have been a potential reversal point.
If the trader missed the mid-pm high, they could have looked for the last hour low, which was expected to occur around 3:05 PM CT. This level was identified as a potential support level, which could have been a potential exit point for the short trade.
Overall, the trader notes that the clock showed the way, and that focusing on the price action and the clock can help identify potential entry and exit points for trades. By getting short at the AM High and holding until the lunch low, the trader could have potentially nailed a 40-point run, based on the range of the day. However, it is important to note that trading involves risk, and past performance is not indicative of future results.
Be sure to use a stop with every trade placed to help mitigate potential losses, and only trade with risk capital that can be afforded to lose.
Additionally, it is important to keep in mind that the market can change quickly and what was a good trade opportunity at one point may no longer be valid at another. It is essential to use risk management techniques such as stop losses and position sizing to protect your capital.
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S3H with the spill down.
News: Jobless Claims & PPI-Final Demand at 8:30, John Williams Speaks at 8:45, EIA Natural Gas Report at 10:30. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: We either got potential accmulation with a secondary test or redistribution.
7/8/9 AM: Backed price off the Daily Pivot and offered into the Weekly S1 and Daily S1. Holding a bid at the 5183 waiting on numbers.
Today: Need to hold the 5183 handle Bull / Bear Line.
Bulls Want: 97, 07, 15
Bears Want: 76, 64, 56
Globex: 31 handle trading range on 188 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 16.70
Shape of the day: Normally this day is rope follows expansion. Need a surgons scalple to trade it. Perhaps not today.
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Bought on lunch low. LONG
Tuna (30m 1+D) Bought on lunch low. LONG
Sardine (5M-1D) Got short on AM HIGH. Exited at the lunch low. OUT.
Pre Opening: For now, opposite of yestesrday. Sprang yesterdays' low trying to regain the Pivot.
The clock is used for timing your entries and exits. Position long at the lows exit at the highs. Get short at the highs buy in at the lows. When the trend is in, WB's clock is your friend!
Your edge is a series of trades, not just one trade or one day.
Dates: March 25 Worm Moon 3:00 a.m. Spring Equinox March 20 5:24 pm (all times est)
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