WyckoffTrader-AMTurn-06062024
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 sharply higher over the course of the trading day on Wednesday, adding to the modest gains posted in the previous session. With the rally on the day, the Nasdaq and the S&P 500 reached new record closing highs. The surge, as the AI darling soared by 5.2 percent to a new record closing high.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
From page three yesterday: "I. Market analysis -I'm not much on bragging on the past I don't enjoy it. I'm just not seeing massive supply being pressed upon the market. Price needed to drift back down to check the Spike seen on Friday. That was no drift. That was a smack down seen the past two days.
II. Overnight read – PEONS over thier skies trading at R1 5320 once again. Gap and go. Gap and Crap.
III. I have mixed emotions on giving levels and pivots. I'm looking at price, volume, and the interaction of price/volume/time. That does not show up in levels. With that stated; bulls have the upper hand if they gain and hold the 5318 handle. It's still going to be tuff. A big shelf of distribution rests at 5321 up to the 5338 handle."
The spill was down and the rest of the day was up. Does that about sum up the day? Please take the time and read the left of the side bar on page one. Very insightful wisdom handed down from a wise old trader. My favoriate was; "Forget what it was telling you five minutes ago."
Also take the time and read the updated on page five. AI is going to run the table like it or not. Please if you don't do anything at least watch this video IMPRO: tbohn007 :(11:30:15 AM) : https://www.youtube.com/live/pKXDVsWZmUU?si=9XwC_88dnfrXAEEg complete presentation but 1.45min opprox.
IMPRO: Wyckoff Trader :(11:33:50 AM) : tokens are the new plastic of the 70's
bdee :(10:33:03 AM) : hard to take a long when your up in the long targets Wyckoff Trader :(10:33:45 AM) : yes that R1 targets the R2 said moe. Guess what? Price taged R2, R1 and Weekly R1. :(10:58:54 AM) : larry says AM LOW window closed, no MID AM, looking for lunch high
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 provided text, it appears that the author is a seasoned trader who has been analyzing the eMini futures market. From the text, it seems that the author is looking for a trade setup that would allow them to take a long position.
From the analysis provided, it appears that the author is looking for a reversal setup. They mention that the price needs to "drift back down to check the Spike seen on Friday" and that the bulls have the upper hand if they can gain and hold the 5318 handle.
Given this analysis, it seems that the author would have been looking for a short trade setup around the 5318 level. This is because the author mentions that the bulls have the upper hand if they can gain and hold this level, implying that a short trade setup around this level could be a good opportunity.
As for the best time to put a trade on, it appears that the author was looking for a reversal setup, which would have required a significant move in the market. Given the analysis provided, it seems that the author would have been looking for a short trade setup around the 5318 level.
In terms of the best time to put a trade on, it appears that the author would have been looking for a trade setup around the lunch high, as mentioned in the chat log. The author mentions that the AM LOW window closed, and they are looking for the lunch high, which suggests that they would have been looking for a trade setup around this time.
Overall, it appears that the author would have been looking for a short trade setup around the 5318 level, and would have been looking to put the trade on around the lunch high.
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.
Not sure Sydney gets the full grasp of what is going on but you be the judge. Before you assign any intelligence it's important to understand that she just tokenizes ever word and then just reassembles the words based upon likehood of order.
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S3L with the spill up.
News: Challenger Job-Cut Report at 7:30, International Trade in Goods and Services & Jobless Claims & Productivity and Costs at 8:30, EIA Natural Gas Report at 10:30. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: PEONS Held the gains from yesterday in a tight 10 handle range.
7/8/9 AM: Bulls finding supply at the 5368 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 62, 74, 89
Bears Want: 50, 41, 33
Globex: 10 handle trading range on 128 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.73
Shape of the day: Rope follows expansion.
Honing: Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW
Bill Fish (4H/4D) Started taking some off durring rally. LONG
Tuna (30m 1+D) Started taking some off durring rally. LONG
Sardine (5M-1D) Got long at AM LOW. Out at close. OUT.
Pre Opening: Price is finding supply at R1 5368 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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