WyckoffTrader-AMTurn-05092024
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 Wednesday, extending the lackluster performance seen during Tuesday's session. Despite the choppy trading, the Dow closed higher for the sixth straight day, reaching its best closing level in over a month.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
IMPRO: bdee :(10:30:05 AM) : me2 always got to remember the bears are like sand people there easily startled but they will be back
That framed yesterday. Yes, I too said that yestserday:
I'm going to break with the censisus and go with S2L day. Sure, it might be S2H. And most folks think it is. This is the Kewpie day. If I'm right we get the Kewpie doll. If I'm not we flip it.
NO KEWPIE DOLL FOR YOU!
Bulls were checked at the 5215 floor pivot all day in every way yesterday. The gap down rally ended about 89 minutes with 11:02 am marker. A 130 minute rally took back about 5/8 of the rally. This is telling you the bears are stronger. This is confirmed as a 150 minute rally tags the day's high.
From page 3: III. I'm buying a break out of the 5215 floor trader pivot up to 5219 spike (that never happened). I'm buying reversal down to 5205 S1/Weekly R1. If we lose that then it's short after price loses the 5205 previous day's low (that happed over Globex).
Best trade was get long at the open (spill down) and hold on till the AM HIGH sealed. The volume the past two days have been giving us a hint the bulls were timid and unable to gain a following up at these levels.
The volume today was the lowest of all. Just over 700 K. War looming. Tech falling. And the DOW Zooming. I'm thinking a bit of a pull back then test those highs again.
Today held the three day pivot and the weekly R1. The 10 Day MA is creaping up. Like a bat light in Gothom City.
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 text, the best time to put on a trade on the eMini futures market would be:
**Get long at the open (spill down) and hold on till the AM HIGH sealed.**
This is because the text suggests that the best trade was to get long at the open and hold on till the AM HIGH sealed, implying that the market was likely to move up from the open and reach a high point before consolidating or reversing.
Additionally, the text mentions that the gap down rally ended about 89 minutes with the 11:02 am marker, which suggests that the market was likely to move up from the open and reach a high point around 11:02 am.
Please note that this is a subjective interpretation and should be used in conjunction with other technical and fundamental analysis before making a trading decision.
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 S3H IFFY with the spill down.
News: Jobless Claims at 8:30, EIA Natural Gas Report at 10:30, 3/6/52-Month Bill Announcement at 11:00, 4/8-Week Bill Auction at 11:30, 4/8-Week Bill Auction at 11:30, 30-Yr Bond Auction at 1:00, Fed Balance Sheet at 4:30. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: For now supply seems to have the upper hand trading within the range of previous day.
7/8/9 AM: Price found a bid at the 5194 handle and rallied back up to the 5206 Weekly R1.
Today: See Actonable Trade Plan above.
Bulls Want: 06, 15, 26
Bears Want: 94, 89, 48
Globex: 18 handle trading range on 88 K volume.
Cycle Bias: Favored to the bear.
Tone: VIX trading at 13.26
Shape of the day: Rope follow expansion. Need surgons scaple to trade.
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Got out at upthrust sold on way down. OUT
Tuna (30m 1+D) Got out at upthrust sold on way down. OUT
Sardine (5M-1D) Stayed out all day. OUT.
Pre Opening: After the news, price took out the Weekly R1 and is looking to take on the close 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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