WyckoffTrader-AMTurn-04172024
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 showed a lack of direction over the course of the trading day on Tuesday, as traders took a breather following the sell-off seen over the two previous sessions. The major averages bounced back and forth across the unchanged line before eventually closing narrowly mixed.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
If you've been building a line like they did in the old days, you'll want to see this go up. The war is not even mentioned on my browser. The market, seems to know. That's not the war that bothers me. It's damn algos at the top of that 5118 handle, that keep knocking the bulls line back down!
It's a classic bullish set up. I've seen it in Wyckoff charts many times but that don't make it enjoyable. Still a 44 handle range is about right.
Perhaps if you fliped the day, it might be better understood. Often WB would flip the day in chat but keep it the same in the email. The AM LOW would have came in at 10:40 center time. MID AM HIGH 11:55 am. Lunch low at 1:30pm and mid pm high at right at straight up at 3:00 pm or a hook at 3:30 pm. The LAST HOUR LOW at 3:57 pm.
That's a better fit with the flip to the S1H day potential we have today. If you were looking to get a position on perhaps the best position would have been:
Better to plan tomorrow than trade this garbage. Tomorrow we breakout one way or another. Staying flexible and will have a good plan
That's from a trader in the chat.
However, is you had to put a trade on the only real trade was the sping of the previous / current days low on the increase in volume. That would have been the lunch low seal around 1:30 pm. That was the best place. Soon, 45 minutes later the algos would have knocked it back down cause the Composite Man was checkin price at the 5118 handle.
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 by the trader, the best time to have put a trade on the eMini futures market for a day trade would have been at the "lunch low seal" around 1:30 pm, when the market bounced off the previous or current day's low on increased volume. The trader notes that this was the "only real trade" of the day, and that it occurred when the market showed a bullish reversal pattern after testing the lows.
The trader also suggests that it might be better to plan for tomorrow's trade, as the market may break out in one direction or another. The trader emphasizes the importance of staying flexible and having a good plan.
It's important to note that trading involves risk, and there is no guarantee of profit or success. It's always a good idea to do your own research and analysis, and to consult with a financial advisor or other qualified professional before making any trading decisions.
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 S1H with the spill odds down.
News: Atlanta Fed Business Inflation Expectations at 10:00, EIA Petroleum Status Report at 10:30, 4-Month Bill Auction at 11:30, 20-Yr Bond Auction at 1:00, Beige Book at 2:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Globex tested range of yestserday. Was that the Spring? Price may decide a side today.
7/8/9 AM: Bulls pushed price up to that 5118 handle and backed away.
Today: See Actionalble Trade Plan above.
Bulls Want: 27, 63, 86
Bears Want: 96, 88, 75
Globex: 42 handle trading range on 228 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 18.04
Shape of the day: First day of cycle. Odds and probabilities.
Honing: Spill oods down, loupie loop, LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Holding for now. LONG
Tuna (30m 1+D) Holding for now. LONG
Sardine (5M-1D) Didn't see an edge. Stayed out all day. OUT.
Pre Opening: Bulls are holding 5098 daily 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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