WyckoffTrader-AMTurn-04192024
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 fluctuated over the course of the trading session on Wednesday before eventually ending the day mostly lower. The Nasdaq and the S&P 500 extended their losing streaks to four days, falling to their lowest closing levels in nearly two months.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
From Page Three yesterday (4/17):
Selling 5066 reversals 5056 breakdowns with
Half commitment. Full commitment under 5047.
If you took it good on you. You had to be quick. The 5066 Weekly pivot failed at 9:34 and drove down to 9:39 marker. That's about a 13 handle run. Then on the way back the 66 reversal would have added at least 6 handles or more. If you reloaded again at 10:00 am the bear was getting long in the tooth. Still he paid off about 8 handles.
From Page Three yesterday (4/17):
Buying 5075 reversals 5104 breakout with
Half commitment. Full commitment over 5119.
If you took the 5075 at you had till 11:29 5090 to take your 15 handle profit.
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, a seasoned trader looking to day trade the Emini futures market might have considered putting on a short trade near the high of the day, around the 5081 level, as the market was unable to take out Resistance 1 (R1). This is considered a selling opportunity as the market has shown weakness and is unable to move higher.
Additionally, the trader could have added to their short position as the market moved down, with a full commitment under 5066. The trader could then look to offset their shorts at 5053, and hold the remaining position until 5039 or exit all open positions on close.
It's important to note that the trader should have a clear plan and risk management strategy in place before entering the trade. This includes setting a stop loss order to limit potential losses and a profit target to take profits at a certain level.
It's also important to be aware of the market conditions and any news or events that could impact the market. This information can help the trader make informed decisions and adjust their strategy accordingly.
In summary, a seasoned trader looking to day trade the Emini futures market might have considered putting on a short trade near the high of the day, around the 5081 level, as the market was unable to take out Resistance 1 (R1) and have a clear plan and risk management strategy in place before entering the trade.
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 S3L IFFY with the spill up.
News: No news of note. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Globex was all over the map with the fith straight down day day. Potential for rally due to Friday.
7/8/9 AM: Bulls pushed price up from the rut to recover most of the loss from last night.
Today: See Actionalble Trade Plan above.
Bulls Want: 53, 66, 83
Bears Want: 26, 12, 04
Globex: 88 handle trading range on 458 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 18.89
Shape of the day: This day is normally a tight trading range. Anything goes today
Honing: Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW.
Bill Fish (4H/4D) Holding for now. LONG
Tuna (30m 1+D) Holding for now. LONG
Sardine (5M-1D) Out waiting for direction. OUT.
Pre Opening: Going back to recover the monthly pivot of 5053 handle.
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)
Comments are closed