WyckoffTrader-AMTurn-06252024
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)
U.S. stocks ended mixed on Monday as investors stayed largely cautious ahead of some crucial economic data, including a report on personal income & spending due later in the week. Nvidia Corporation shares tumbled 6.7 percent, sliding once again on profit taking.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Here is what we know: The high printed on the day after the Wednesday holiday was a potential upthrust. Traders were uable to gain a following on Monday and Tuesday of last week and bid price up at the open on Thursday. Supply was the path of least resistance Friday and Monday.
Today is Tuesday. Turn around Tuesday or Taco Tuesday. Pending upon who your chat buday was. And NO I do not have an analytic for today, but I do know someone who would have. It looks like the bulls are trying to hold a bid at this big even. I can't guarantee it but for now the 5510 is holding.
Perhaps the day was more S1H than L yesterday. Bulls came in at the open and drove price up to test Friday's high. Price was checked but it was a strong rally with increasing volume. Still the best trade would have to have gotten short the 5550 the R1 and previous day's high. Had you held it till the close it would have been a good trade.
You can see by 12:30 pm bulls were just unable to get a following at these highs. No place else to go but back down. By 2:30 pm price is probing for a new low with a slight bid holding to get a rally up into the last hour that fails at the close.
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 analysis, here are some actionable insights for a seasoned eMini futures trader:
1. **Wednesday Holiday High**: You mentioned that the high printed on the day after the Wednesday holiday was a potential upthrust. If a trader was able to identify this resistance level, they might have considered shorting the market at this level with a plan to exit the trade if the market breaks above this level.
2. **Thursday Open**: You pointed out that supply was the path of least resistance on Thursday and Monday. A trader could have waited for a confirmation of this trend by looking for selling pressure at the open. If the market opened high and started to decline, it would have been a signal to enter a short position.
3. **Friday and Monday**: The market showed a downward trend on Friday and Monday. A trader could have looked for opportunities to short the market during these days, especially near the highs of the day.
4. **Tuesday**: Today, you mentioned that the bulls are trying to hold a bid at the big even (5510). If this level holds, it could be a potential long entry point. However, if the market breaks below this level, it could be a signal to enter a short position.
5. **Yesterday (Monday)**: You mentioned that the market might have been more S1H (Sell First, Hour) than L (Liquidate). If a trader identified this trend early, they could have shorted the market at the open and exited the trade once the selling pressure subsided.
6. **Thursday's High**: You pointed out that the bulls came in at the open and drove price up to test Friday's high. If a trader identified this resistance level, they could have shorted the market at this level with a plan to exit the trade if the market breaks above this level.
Remember, these are just suggestions based on the information provided. It's important to use proper risk management and always consider the overall market context before making trading decisions.
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…
Sydney reminds me of Hank trying to figure out what a S1L day is?
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 S2L with the spill up.
News: Chicago Fed National Activity Index at 8:30, Case-Shiller Home Price Index at 9:00, Consumer Confidence & Richmond Fed Manufacturing Index at 10:00, 4-Week Bill Announcement & 8-Week Bill Announcement & 4-Month Bill Announcement at 11:00. 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 being checked at the 5530 handle for now.
Today: See Actonable Trade Plan above.
Bulls Want: 50, 74, 83
Bears Want: 32, 17, 03
Globex: 18 handle trading range on 148 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.45
Shape of the day: Potential to recover highs of last two days.
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) Did not see an edge. OUT.
Pre Opening: Holdign the 28 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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