WyckoffTrader-AMTurn-05202024
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 moved to the upside early in the session on Thursday but fluctuated over the course of the trading day before eventually closing modestly lower. The major averages partly offset the strong upward move seen over the two previous sessions.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
IMPRO: Wyckoff Trader :(1:24:38 PM) : they bought at the open, sold hard for 5 minuted, then gave it to the man in the seat
That sums up the day. When Hank, bings out his yacht club anchor detail beauities and Dboy start flashing pictures of Jimmy Johns…you just know that's it for the day. The day was S3L. I think is was more H than L but on a nothing burger day it's close enough for goverment work.
Wyckoff Trader :(9:56:45 AM) : price seems to be getting stuck at this 18 handle (10:22:26 AM) : looks like the bulls want to stick the price to yesterdays low/close (10:40:26 AM) : 30 minute rally; let's see what the bears can do (10:45:43 AM) : bears fumbled after 5 minutes bulls need to reclaim the 27 (10:57:02 AM) : bears are sticking the highs of the openign range and it's 11:00 (11:22:31 AM) : this is going to be a hard road to hold for bulls or bears
Sadly that was it for the day. Price held just under the 5327 Floor Trader Pivit all day. By 1:30 pm volume wasn't even 500K. That's a good day to go out and play. It's a nothing burger day. WB called it a "Rope follows expansion. Need a surgons scaple to trade it."
And speaking of WB it would have been 7 years next Tuesday on May 21th 2017 when he would have traded his last Debbie Day. S4H on a Friday.
This just about sums it up:
IMPRO: Wyckoff Trader :(1:39:35 PM) : if the bulls keep lettign the bears keep dipping this, they are going to break this support
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 Wyckoff Trader's analysis and commentary, it appears that the best time to have put a trade on the eMini futures market for a day trade would have been during the 30-minute rally that started at around 10:40 AM.
At that time, the Wyckoff Trader noted that the bulls were reclaiming the 27 handle and that the bears had fumbled, indicating that the market was potentially starting to trend upwards. This was confirmed by the subsequent rally that lasted for about 30 minutes.
However, it's important to note that market conditions can change rapidly, and it's essential to use risk management techniques and stay up-to-date with market news and trends. Additionally, the Wyckoff Trader's analysis is just one perspective, and other factors, such as economic data, geopolitical events, and technical analysis, should also be taken into account when making trading decisions.
Overall, the Wyckoff Trader's analysis suggests that the market was relatively flat and uneventful for most of the day, with low volume and little price movement. As a seasoned trader, it's essential to be patient and wait for the right opportunities to present themselves, rather than trying to force trades in a flat or choppy market.
(that would have been true if it had NOT been a nothing burger day but Algos were not in the fray)
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" (WOW. She nailed that one. She's getting to be a better trader each day)
good morning today is SERIES S2L with the spill up.
News: Raphael Bostic Speaks at 8:45, Michael Barr Speaks at 9:00 & Christopher Waller Speaks at 9:00, Philip Jefferson Speaks
at 10:30, 3-Month Bill Auction & 6-Month Bill Auction at 11:30, Raphael Bostic Speaks at 7:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Place your bets: higher or lower?
7/8/9 AM: Price is finding a cealing at the 36 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 34, 43, 55
Bears Want: 20, 11, 97
Globex: 8 handle trading range on 88 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.27
Shape of the day: Let's see where price trades.
Honing: Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Holding longs. LONG
Tuna (30m 1+D) Holding longs. LONG
Sardine (5M-1D) Got short at 2:30 pm low and out at close. OUT.
Pre Opening: Bulls seeing resistance at the 36 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)
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