WyckoffTrader-AMTurn-07182024
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 turned in a mixed performance on Wednesday with geopolitical concerns and profit warning from Dutch semiconductor firm ASML rendering the mood cautious. The sell-off by semiconductor stocks came after a report from Bloomberg said administration is considering tougher trade rules.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Was the day S4L or S4H day? Either way, it sure ended badly. Looking at the CASH range. All the heavy lifting was done over GLOBEX. And what moved it? Most traders did not really know. And still it's hard for me to believe. A strong day with a strong close and open gap down.
At the closing print Tuesday, price switched to the supply side. The market opens gap down. Now, you either how a play; Gap and grap or gap and go. Price starts to rally and gets to the previous day low. By 9:55 am you can see that's not going to happen.
Bigger players start hitting the bid and price falls apart. BY 10:10 am the down move really was over. Price kept trying but no aggressive moves to the down side. Just a small drip down hitting the "whack a moles."
By 1:10 pm price showed it's first attempt to get a bid that was quickly turned back to print a new low of day. At 2:00 pm price drifts down to test that low and is supported as the Afternoon trade gets it's move on.
At 3:00 pm we test a higher low and price starts to move up but is checked. At the close price springs a low and the path of least resistance is transfered to the bullish side.
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 say that the best time to enter a trade on the day you described would have been during the GLOBEX session when the heavy lifting was done. This is because the price action during this time often sets the tone for the rest of the trading day.
For exiting the trade, it would have been best to exit during the 10:10 am timeframe when the down move was over and there were no aggressive moves to the downside. Additionally, the attempt to get a bid at 1:10 pm and the test of the higher low at 3:00 pm could have also been good exit points.
It's important to note that the decision to enter or exit a trade should always be based on the current market conditions and the individual trader's strategy. It's also crucial to have a solid risk management plan in place to protect against potential losses.
The day you described was a strong day with a strong close and open gap down, which can be indicative of a potential trend day. However, it's hard to say for certain what moved the market without more context. It could have been driven by economic news, geopolitical events, or other market fundamentals.
In summary, the best time to enter and exit a trade on a day like the one described would have been during the GLOBEX session and when the market showed signs of a trend reversal or a lack of aggressive movement in the desired direction. It's important to have a solid understanding of market conditions and a well-defined strategy in order to make informed trading decisions.
Now think about this. She read the same thing you read. You should really start to be getting scared. Especially when pigs start to fly… (subsuite pigs for ?) How did she know the best location for exiting the trade was the mid pm high?
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S1H with the spill odds down.
News: Jobless Claims & Philadelphia Fed Manufacturing Index at 8:30, Leading Indicators at 10:00, EIA Natural Gas Report at 10:30 . 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 5650 handle and holding.
Today: See Actonable Trade Plan above.
Bulls Want: 66, 74, 85
Bears Want: 48, 39, 22
Globex: 26 handle trading range on 188 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 14.38
Shape of the day: Odds and proabilities.
Honing: Spill odds down, loupie loop, LAST HOUR ODDS 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: Holdling the 50 handle with eyes on GLOBEX high of 5664 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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