WyckoffTrader-AMTurn-04262024
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)
After moving sharply lower early in the session, stocks regained ground over the course of the trading day on Thursday but remained mostly lower. The major averages all finished the day in negative territory after ending Wednesday's trading narrowly mixed.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
IMPRO: Wyckoff Trader :(4:21:33 PM) : Wow what a hose job down to nearly S3 5022 up to nearly R2 5140. : I’m thinking this day might have inverted.
This best describes yesterday. The day started out as a S1L day and ended as a S2L day. That's the Kewpie day. WB would say, "If I nailed the cycle we get the Kewpie doll!" He also said he could be only wrong twice the rest were iffy. Looking at the chart you can cleary see the AM HIGH is center time 10:30 am.
Their are no turns on the S1 day, it's loupie loop. Odd's and probilities. The day ends at center time 3:30 pm. Once again there are not turns on the S1 day. You can see however, the day was fliped back from bearish to bullish.
So, where do you get your trade on? Globex held a thght trade and then at the 8:30 am numbers, within a blink of an eye price plunges 30 points down. You missed the down move. By 10:00 am you can see a bid come in on high volume. Could you have nailed that? Perhaps.
However, if you watited till the pullback at 11:00 am, you would have seen about a halfway reaction. More important 25 minutes up and 30 minutes down. Bears were unable to take back half in about the same time are the bulls were able put it on.
If you look back at 9:40 am you can see a 80 minute base of potential accmulation. Sure they were selling. They were selling into a bag. And daddy bull ziped it up and took all those stuck shorts for a ride.
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 for a day trade on the eMini futures market may have had the best opportunity to put on a trade during the pullback at 11:00 am. This is when a bid came in on high volume, and there was a halfway reaction in about 25 minutes up and 30 minutes down. The bears were unable to take back half in the same time the bulls were able to put it on. Additionally, there was a potential accumulation base at 9:40 am, where selling was observed, but the bulls were able to zip it up and take the shorts for a ride.
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 S2L with the spill up.
News: Personal Income and Outlays at 8:30, Consumer Sentiment at 10:00, Baker Hughes Rig Count at 1:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Yes it was over sold and bears droped soap yesterday. Today, it's the bulls ball to drop.
7/8/9 AM: Holding at the 5127 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 91, 03, 13
Bears Want: 60, 53, 38
Globex: 28 handle trading range on 188 volume.
Cycle Bias: Favored to the bear.
Tone: VIX trading at 16.38
Shape of the day: Their is a lot of news to our sail.
Honing: Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Holding long. LONG
Tuna (30m 1+D) Holding long. LONG
Sardine (5M-1D) Got long at the 10:00 low. Exited at the end of day. OUT.
Pre Opening: Gonna take you higher. Spiked up to the 5140 then traded back down.
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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