WyckoffTrader-AMTurn-06102024
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 Wednesday's session, stocks turned in a relatively lackluster performance during trading on Thursday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing narrowly mixed.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
If youi were waiting for a day where all the plantets align, this was the day. The 8:30 number ran the tops to the up side at the 81 handle. I really dont' think they were running the stops. I really thik they were buying but as traders we always like to say they were running the stops. So, they ran the stops to the upside and then droped it about 50 points. Is that about right?
It was a milli-second. You would have had to have had an order in to have cought that. And since it was all Globex total volume for that minute was 14K.
The market pushs down to about the 29 handle. S2 was 5332 close enought. As the CASH opens it's like 52 and the low tags 43 S1 is like 5347 close enough. Get long on the spill down. You got a "look below" or a SPRING. However you like to see it. Price is going up. It's the spill down seal. get long around 9:35 am.
Next is AM HIGH. It took a while to grid pirce up but it sealed at 10:50 am late and strong. Are you seeing a trend here? You just might want to get out of your long and call it an early weekend. Price taged the S2, S1, Pivot, and R1. It's almost a slam dunk!
Next the MID AM LOW seals early and weak at 11:10 am and price just grind up waitng to seal the lunch high center time high of day at 1:25 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 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.
Based on the chat log, it seems that the Wyckoff Trader is a seasoned trader who specializes in identifying market trends and making profitable trades. From the log, we can infer that the best time to have put a trade on the eMini futures market for a day trade would have been during the opening bulge on the spill up.
Here's a breakdown of the events:
1. The market opens with a "spill up" (8:51:27 AM), indicating a strong buying pressure.
2. The price rises rapidly, and the trader identifies a "rope follow expansion" (8:51:40 AM), indicating a strong uptrend.
3. The trader notes that the market is in a state of "equilibrium" (10:34:40 AM) with 66K of supply at the 70/73 handle.
The trader suggests that the best trade was the opening bulge on the spill up. This means that the best time to enter a long position would have been during the initial upward surge, around 8:51:27 AM.
The trader also mentions that the ideal trade would have been to hold the position until the close of the previous day and see if a bid came in. However, this would have required holding the position for an extended period, which may not be suitable for all traders.
In summary, the best time to put a trade on the eMini futures market for a day trade would have been during the opening bulge on the spill up, around 8:51:27 AM.
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 Normal with the spill up.
News: No news of note. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: No number today, traders are waiting on the FED Wednesday.
7/8/9 AM: Traders found a bid at the 38 and now looking for direction.
Today: See Actonable Trade Plan above.
Bulls Want: 62, 74, 89
Bears Want: 50, 41, 33
Globex: 22 handle trading range on 138 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.10
Shape of the day: Rope follow 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) Stayed out all day. Out at close. OUT.
Pre Opening: Price held at the 53 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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