WyckoffTrader-AMTurn-06142024
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)
After an early rally on tamer than expected consumer price inflation data, stocks saw some volatility following the Federal Reserve's monetary policy announcement but still managed to end Wednesday's trading mostly higher. The Nasdaq led the charge, surging 264.89 points or 1.5 percent to a new.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
1,703 issues and counting. Today would have been my dad's birthday. And frankly, I thinkk he enjoyed hanging out with me yesterday. I got to use his saw, hammer, and crowbar. It was more syncryntic. I said, "Man I need a crowbar!" I looked down at my feet and his was right there…
I got the last of his stuff out. Mom, she's the one that had the most. None it her stuff broke. Dad's not so much.
I planed not to be trading this week but I did miss some good trades. Yes I had S2 with and AM LOW coming in at center time. The Spill up sealed at the opening print. They were selling on the open. Not hard and heavy but they were selling. Ideal trade would have been short on the open.
No MID AM TURN, so plenty of time to work itself out. Everyone has levels and I get it. I stil do not think you can beat that daily piovt. Better yet the half way retracement of the previous day's range. Looks like they just had to work that out. Best would have been to take that short off around the halfway retracement
As you could see a bid held for about 45 mintues. The Composte Man had one more shake out in mind as it came in around 12:30 pm. If you were not out of your short, then be out of it by then- cause this puppy is going back up.
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)
I'll provide my analysis as a seasoned trader. Please note that past performance is not a guarantee of future results, and trading carries inherent risks.
Based on the information provided, the best time to have put a trade on the eMini futures market, from the perspective of a seasoned trader for a day trade, would have been shorting on the open. The trader should have identified the selling on the open and acted on it. Additionally, the trader should have been aware of the lack of a mid-morning turn, indicating that there was still potential for the market to move.
The ideal trade would have been to exit the short position around the halfway retracement of the previous day's range. Furthermore, the trader should have been aware of the bid that held for about 45 minutes and the composite man's shake out around 12:30 pm. If the trader was not out of the short position by then, they should have exited it, as the market was going to move back up.
Overall, the trader had to understand the market's movement, identify the selling opportunity, and be quick to react to the market's retracement. Additionally, the trader had to be aware of the composite man's shake out and exit the position accordingly.
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: Import and Export Prices at 8:30, Consumer Sentiment at 10:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Traders are asking themselves; "How LONG can this thing go?"
7/8/9 AM: Price diped just below the big even and found a bid.
Today: See Actonable Trade Plan above.
Bulls Want: 18, 25, 31
Bears Want: 97, 88, 72
Globex: 46 handle trading range on 278 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.73
Shape of the day: Potential inside day.
Honing: Spill up, AM LOW, (no mid am), lunch high, mid pm low, LAST HOUR HIGH
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: Trying to hold the 41 handle on the hgiher highs.
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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