WyckoffTrader-AMTurn-07152024
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 substantial downturn seen over the course of the previous session, stocks moved back to the upside during trading on Friday. With the upward move on the day, the Dow and the S&P 500 reached new record intraday highs.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Of all the book I have – I can't find one of them. It's the fifth universal law of the universe. The law of rhythm. The pendulum-swing manifests in everything; the measure of the swing to the right is the measure of the swing to the left. No matter what political team you play on, the pendulum has swung to the right. Nature always compensates. My prayes however go out the the family who lost in that exchange.
I often thought Wyckoff referenced these seven laws but he never said that he did. WB and I would often talk of these laws as to how/when they pertained to the market. I don't talk much in chat but I had a long down at the 30 handle. 5630.75 to be exact.
The day was S3L. A Friday. The perviou's day volume was high. By my eye, it was going to go up. Perhaps I could have articulated it more. WB wouild have said today id a shooting fish in a barrell type of day.
The spill up was 30 minutes. What more did you need. The AM LOW was 5 minutes. Need I say more? MID AM HIGH late and strong 11:55 am. Lunch low at 12:10 pm early and weak. Are you seeing a pattern here? Do you see a trend? When the trend is in WB's clock is your friend.
Mid pm high a bit of a hook at 2:10 pm. That is for the high of day. What is the last turn? LAST HOUR LOW. That seals at 3:59 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 information you've provided, it seems like you're describing a day where the market followed a clear trend, moving up throughout the day with a few key levels and times. As a seasoned eMini futures trader, I would have looked to enter long positions on the pullbacks, using the Wyckoff method and the concept of the law of rhythm.
Here are some specific times and levels where I would have considered entering and exiting trades:
* Entry: I would have looked to enter long positions on the pullbacks to the AM Low at 5630.75, as well as the Lunch Low at 12:10 pm. These levels were identified as key support levels and offered a low-risk entry point for long positions.
* Exit: I would have looked to exit long positions on the spikes up to the Mid AM High at 11:55 am, as well as the Mid PM High at 2:10 pm. These levels were identified as key resistance levels and offered a good opportunity to take profits.
Additionally, I would have paid close attention to the Last Hour Low at 3:59 pm, as this is often a time where the market can make a final move in the direction of the trend. If the trend had been up throughout the day, I would have looked to enter long positions on any pullbacks leading up to this time, with the expectation that the market would make one final push higher.
It's important to note that these are just general guidelines and that each trading day is unique. As a trader, it's important to be flexible and adapt to the market conditions as they unfold. Additionally, it's important to use proper risk management and to always use stop-loss orders to protect your capital.
By now, you should start to be getting concerned. It took sydney 0.63 Seconds to write that… She got some right. And so got some really really wrong. If you dont' know, how would you know. Still she's the future!
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S2L Normal with the spill up.
News: Empire State Manufacturing Index at 8:30, 3-Month Bill Auction & 6-Month Bill Auction at 11:30, Jerome Powell Speaks at 12:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: It's a jump ball day. My lean is to the up side.
7/8/9 AM: Price has been negoating the 5690 handle seeing some supply.
Today: See Actonable Trade Plan above.
Bulls Want: 96, 07, 18
Bears Want: 81, 72, 64
Globex: 12 handle trading range on 118 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.90
Shape of the day: Dog leg from lunch high to mid pm if bulls take it higher.
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. OUT
Tuna (30m 1+D) Started taking some off durring rally. OUT
Sardine (5M-1D) Did not see an edge. OUT.
Pre Opening: No real responce waiting on the CASH open.
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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