WyckoffTrader-AMTurn-05062024
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)
Following the rally seen over the course of Thursday's session, stocks showed another strong move to the upside during trading on Friday. The major averages all moved sharply higher, with the tech-heavy Nasdaq leading the charge. Labor Department much less than expected in the month of April.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
IMPRO: bdee :(12:29:06 PM) : what kind of WB day you have figured wyckoff?
IMPRO: Wyckoff Trader :(12:30:55 PM) : gone fishin day…
IMPRO: Wyckoff Trader :(12:34:04 PM) : or a Heghlu'meH Qaplatlh pending upon you galaxy
III. I've had a good week including yesterday. It's the first day of a new cycle. Some traders are thinking gap up/gap down, buy with both hands. I haven't had time to really put the numbers together. Your TA's and roundies.
Perhapsa that was crytpic but I"ll explain. For those where were in chat Friday or still remember WB. Friday. I HAD S1H day. It was Friday. Two things. WB would say it's like "Shooting needles with elephant." The cycle start all over and it was a weekend.
CynDai Maio weekend. No real traders were tooking to trade. WB would say in an S1 day he would go fishing. What he was saying was, it's a coin flip. It's the day the cycle determins the next three days. Now, it was a Friday. Yes the cycle contunies. Saturday, Sunday, and Monday.
From an apparance it looked as if price was too oversold but it kept on going up. As I said, I was seeing buying. Sure, Algos were pushing it down but only for a day. They cant' hold overnight. And it where your strength lies…
From Friday: A lot of traders did not agree and that's ok by me. I never go with the herd. I've started old school point and figure charting. And by my work I could see 126K come in to rost at the end of that FED day train wreack. Globex just kept inching price up.
So when we opened up, it was logical the traders would offer it back down to where old daddy bull was waiting to load up his wagon. Yesterday, I saw green light buying all throughout the day. During the lunch SLOG at 12:39 pm and 1:13 pm. Some more at 3:00 pm and at 3:30 pm.
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, it seems that the trader has identified the day as the start of a new cycle and is considering the potential for a gap up or gap down. However, they haven't had time to do a thorough technical analysis.
From a Wyckoff perspective, the trader mentioned that it could be a "gone fishin day" or a "Heghlu'meH Qaplatlh" day, indicating that it could be a day of uncertainty or a coin flip.
However, the trader also mentioned seeing buying throughout the day on the previous day, with a significant increase in buying at the end of the day. This suggests that there is underlying strength in the market and that the bulls may be accumulating.
Given this information, a seasoned trader may consider entering a long position on a pullback or a dip, as the trader expects the market to continue its upward trend. They may also consider waiting for a confirmation of the trend, such as a break above the previous day's high or a bullish reversal pattern.
It's important to note that this is only one possible scenario, and that the trader should always use risk management techniques and set stop losses to protect their capital. Additionally, the trader should continue to monitor the market and adjust their strategy as necessary based on new information and changing market conditions.
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 Normal with the spill down.
News: No news of note. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: It's the bulls ball to lose. Let's see what they got.
7/8/9 AM: Globex is over thier skies and trading at R1
Today: See Actonable Trade Plan above.
Bulls Want: 85, 91, 03
Bears Want: 65, 56, 46
Globex: 22 handle trading range on 108 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.73
Shape of the day: Globex got us over their skies. Let's see if CASH agrees.
The options: 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) Got long at 10:25 pm. LONG
Tuna (30m 1+D) Got long at 10:25 pm. LONG
Sardine (5M-1D) Got long at 11:10. Exited at the LAST HOUR HIGH. OUT.
Pre Opening: Price is getting checked at the 5176 R1.
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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