WyckoffTrader-AMTurn-04242024
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)
U.S. stocks ended on a firm note on Tuesday, extending gains from previous session, with technology shares once again outperforming others, amid optimism about earnings. A batch of encouraging earnings updates, and slightly easing concerns about the outlook for interest rates helped underpin sentiment.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Test best way to look at yesterday is in the context of the biger picture. The market fell. The market fell 100 points. And then it fell another 100 points. It got oversold. Shares traded hands from the weak to the strong. And then the mark up started.
I use the Floor Trader Pivots cause it give me a context and keeps biases out of the equation. Price recovered the monthly pivit S2. Then it recovered the weekly pivot. It was nothing but net after that. After the open it was up. Up. And AWAY!
If you wanted to get on board, you had to be really quick. The spill up. I don't think it ever sealed. The AM LOW sealed at 10:05 am. That was the place to get long for the ride of your life. Volume came in and confirmed your position.
The MID AM HIGH seales as a hook about 11:30 am center time. Next is lunch low. Early and weak 12:05 pm. Are you seeing a trend?
The dip down are lasting 5 minutes. Mid pm high late and strong at 2:45 pm. And last hour low at 3:05 pm.
If you just got on board at the market open or waited until the AM LOW, you had a great day. Sure you may have exited eariler or later. Either way it ws a good day.
Once price left the weekly pivot it did not look back. From IMPRO: Jim Mayo :(11:12:00 PM) : 27 starts the single prints from the big down day. Let's see how today plays out.
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, the best time to have put a trade on the eMini futures market from the perspective of a seasoned trader for a day trade would have been at 10:05 am, when the AM LOW sealed. This was the place to get long for the ride of your life, as the market had been falling and then started to recover. Additionally, getting on board at the market open or waiting until the AM LOW would have also been a good decision, as the market was up for the majority of the day after that point. It is important to note that volume confirmed these positions, which is a key indicator for a seasoned trader.
It is important to note that these entry points are based on the trader's analysis of the market context, and the decision to enter or exit a trade should always consider the overall market conditions, risk management, and the trader's strategy. Additionally, the trader should be aware of potential news events or market drivers that could impact the market, such as "wars, wars, and rumors of wars" mentioned in the text.
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 S4H with the spill down.
News: Durable Goods Orders at 8:30, EIA Petroleum Status Report at 10:30, Survey of Business Uncertainty at 11:00, 4-Month Bill Auction at 11:30, 2-Yr FRN Note Auction at 11:30, 5-Yr Note Auction at 1:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Bulls need to end this day strong. Price perhaps a bit over bought.
7/8/9 AM: I'm see a bid at the 5109/5111 handle.
Today: See Actionalble Trade Plan above.
Bulls Want: 27, 44, 56
Bears Want: 95, 88, 78
Globex: 22 handle trading range on 168 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 15.76
Shape of the day: This day has potential to trade bullish provide the new is to the sail.
Normal, Wedge Zoom, Link a Stink.
Honing: Spill down, AM HIGH, MID AM low, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) LONG at the open. LONG
Tuna (30m 1+D) LONG at the open. LONG
Sardine (5M-1D) Got long at the AM LOW. Exited at the MID AM HIGH. OUT.
Pre Opening: Challenging the 64 LAST HOUR HIGH from yesterday
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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