WyckoffTrader-AMTurn-07232024
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)
Stocks moved sharply higher over the course of the trading session on Monday, with technology stocks seeing a significant rebound following last week's sell-off. The tech-heavy Nasdaq posted a standout gain, although all three major averages moved to the upside on the day. The major averages moved roughly sideways.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
From page three:
II. Overnight read – Over the weekend price opens gap up and tried hard to recover Fridays' loss. I got in at the 5557 let's see what the markets got. As I was waiting for the market to open I looked down and saw my profit target. The Market opened and took out my profit target. Price dips 10 points. And I'm feeling good about the trade but bad about the day. I had S1H and that was not a great start.
Then I look down and see we still haven't taged Friday's high. Price falls out of bed till about 10:10 am then rallied again. By 10:55 am I'm thinking let's get short again but I don't. Price dips down and we see a spring at 11:40 am. I'm thinking, this is going to go back up.
I see Dboy put on a few ES. By 12:05 pm we got a higher high and a higher low. If I was going to be around for the rest of the day, I would have gotten a trade on there. By 2:00 pm we print a new high of day. I'm away, but that what I saw when I came back.
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 suggest the following based on the information provided:
1. Entry: The trader mentioned that they got in at 5557 and exited when the market took out their profit target. This was a good entry point as it allowed the trader to participate in the recovery of Friday's loss. However, if the trader had missed this entry, they could have considered entering again when they noticed a spring at 11:40 am. This spring indicated a potential reversal in the market, which could have provided a good entry point for a short trade. Additionally, the trader mentioned seeing a higher high and a higher low by 12:05 pm, which could have been another potential entry point for a long trade.
2. Exit: The trader mentioned that they exited their trade when the market took out their profit target. This was a good exit point as it allowed the trader to lock in a profit. However, if the trader had missed this exit, they could have considered exiting when they noticed a dip in price at 10:00 am or when they saw a new high of day printed by 2:00 pm. These points could have indicated a potential reversal in the market, which could have provided a good exit point.
Overall, the trader seemed to have a good understanding of market movements and identified potential entry and exit points. However, they missed some opportunities to enter and exit trades, which could have been improved with more careful observation and quick decision-making. Additionally, it's important to note that trading futures involves risk, and it's essential to have a well-thought-out trading plan and risk management strategy in place.
And they want Sydney / AI robots for politicians. Can you not see she does not really understand. If she did she would have said S1L day. She just tokonizes everything and spits it back at you. The pigs are on the airstrip. Soon pigs will start to fly… (subsuite pigs for ?)
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S2L with the spill up.
News: No news of note. 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 5600 handle and holding.
Today: See Actonable Trade Plan above.
Bulls Want: 95, 04, 14
Bears Want: 81, 74, 67
Globex: 14 handle trading range on 138 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 14.99
Shape of the day: Strong trend day with potential for upside.
Honing: Spill up, AM LOW, (no mid am), lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Got long at the lows. LONG
Tuna (30m 1+D) Got long at the low. LONG
Sardine (5M-1D) When short at the open. OUT.
Pre Opening: Seeing some supply at the 5618 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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