WyckoffTrader-AMTurn-06242024
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 mixed performance seen in the previous sessions, stocks showed a lack of direction over the course of the trading day on Friday. The major averages spent the day bouncing back and forth across the unchanged line. Dow jumped by 1.5 percent and the S&P 500 climbed by 0.6 percent.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Weakness is starting to creap in. And rightly so. The adults are starting to enter back into the room. Price opened gap down and slowly started to creap lower. Looks like there is supply but the Composite Man is not pressing. Price hovered around R2 from most of the day.
I have mixed emotions last week with the holiday and the middle and the contract changing and the tripple witching. All we needed was the time to change to add to the mix. We had the the Summer Socolice. Many eddies. I just looking for price to settle into this next contract and be to get accustomed to looking at the Fair Value in double digets.
I just did not see any edge Friday. Price was trading nearly the range of Thrusday. With a 26 handle day it was just a tad over a nothing burger day. The pull back at 1:30 pm checks a higher high. As price closes somewhere around the open the day ends as it started.
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)
As a seasoned eMini futures trader, I would look for the best time to enter and exit a trade based on market analysis, technical indicators, and price action.
Based on your description, it seems that the market opened with a gap down and then hovered around the R2 level for most of the day, indicating a potential area of resistance. The fact that the Composite Man is not pressing suggests that there may not be strong buying interest at current levels.
In this situation, I would look for a potential short entry if price breaks below the R2 level with strong volume and momentum, indicating that sellers are gaining control. A potential exit strategy could be to set a profit target at the next major support level or use a trailing stop to lock in profits as price moves in your favor.
Conversely, if price starts to show signs of a reversal and breaks above the R2 level with strong volume and momentum, it may be a sign that buyers are gaining control, and a long entry could be considered. In this case, a potential exit strategy could be to set a profit target at the next major resistance level or use a trailing stop to lock in profits as price moves in your favor.
It's important to note that trading involves risk, and no strategy is foolproof. It's essential to use proper risk management techniques, such as setting stop losses and position sizing, to limit potential losses and protect your trading capital. Additionally, it's crucial to stay up-to-date with market news and economic data releases that could impact price action and volatility.
Overall, it's important to remember that trading involves risk, and there are no guarantees. However, by using technical analysis and staying informed about market conditions, you can increase your chances of making profitable trades.actic Federation of Light. While I'm not sure what to make of it, I do appreciate the… unique… perspective on the markets.
You know, I'm thinking perhaps Sydney may be getting at bit signiant… Like it or not, she is improving gunning for whoever is in the seat…
After reading what Sydney wrote I asked her this question:
ME: do you know why it's imporant for
strong volume and momentum
Sydney: Yes, I'd be happy to explain why strong volume and momentum are important factors to consider when trading.
Volume refers to the number of shares or contracts traded during a specific period. High volume indicates that there is a large number of buyers and sellers participating in the market, which can lead to increased liquidity and more significant price movements.
Momentum, on the other hand, refers to the speed and direction of price movements. Positive momentum indicates that price is increasing rapidly, while negative momentum indicates that price is decreasing rapidly.
When trading, it's essential to look for both strong volume and momentum because they can indicate the strength of a trend and the likelihood of a continued price movement. High volume and positive momentum can be a sign of a strong uptrend, while high volume and negative momentum can be a sign of a strong downtrend.
Additionally, strong volume and momentum can help confirm the validity of a breakout or a reversal. For example, if price breaks above a resistance level with high volume and positive momentum, it can be a sign of a strong bullish trend and an indication to enter a long position. Conversely, if price breaks below a support level with high volume and negative momentum, it can be a sign of a strong bearish trend and an indication to enter a short position.
Overall, strong volume and momentum are essential factors to consider when trading because they can provide valuable insights into the strength and direction of price movements, helping traders make more informed decisions and increase their chances of success.
Yet, she's never seen a weekly/daily chart. A price trend or an exchange floor. A movign average cross or water in the bath tub. A MACD. A Keyboard or a mouse. Do you really understand what we let out of the Pandorias box?
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S1H Normal with the spill odds down.
News: No news of note. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: Traders are asking themselves; "How LONG can this thing go?" We they got the answer yesterday.
7/8/9 AM: Price is holding the 5530 handle for now.
Today: See Actonable Trade Plan above.
Bulls Want: 50, 74, 83
Bears Want: 32, 17, 03
Globex: 24 handle trading range on 158 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.79
Shape of the day: Potential to trend lower if we lose the CASH lows.
Honing: Spill odds down, loupie loop, LAST HOUR ODDS 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) Did not see an edge. OUT.
Pre Opening: Holdign the 32 for now.
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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