WyckoffTrader-AMTurn-09142023
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 showed a lack of direction over the course of the trading session on Wednesday, with the major averages bouncing back and forth across the unchanged line as traders digested a highly anticipated report on consumer price inflation. The choppy trading due Labor Department's report.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
I gave it up. Actually I had one day left but it felt better just exiting the trade. I had purchased eariler right before the Sept's closed. Held through the CPI numbers. And daddy bull just didn't have it. How long did we stay up there? Four hours or more. Right before three I see Hank saying some algo hitting retail. And I think, Yes I can see that on the chart.
So why should I hang around? I did not. I hit the bid and got out. Sure they flushed price down. Got the weak holders out . Then, drove it back up. Isn't that's how the game is played? I had a prior apportment and had to leave just afer 3:30 pm. So you know, I didn't get to ride it back up. Now, had I used the timing. That would have been the best time to exit the trade.
I'll recap. Price is weak. Moves up for 30 minutes and doesn't really get anywhere. Next move is down 20 minutes. Bulls respond by bringing price back up. Taging the rally by 11:50 am. This is about a 90 minute rally so they still have the upper hand. The next move is down call it 30 minutes. The previous down move lasted 20 minutes but the down move was more aggresivive.
Next is the up move. This is the telling move. Are the bulls getting exhausted? This move lasts 90 minutes and wetbeaks the high around 1:45 pm. If your are looking to get short that might be a good place. Next the down move. The down move lasts 50 minutes. 20 minutes longer than the previous down move and the distance given up is greater.
If you've been on the sidelines this should be the one. The up move is 10 mintues. The shortest in distance gained and durration for the secession. Now, if you need one last sign. If your in Dboy's chat, you should see Hank type some algo XX50 hitting retail. And flash a picture of a train conductor.
And if you watch your screen you'll see a flash of activity and price jsut gives it up before you can see the black line render on your screen.
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good morning today is SERIES S1H and the SPILL odds down.
News: Jobless Claims & PPI-Final Demand & Retail Sales at 8:30, Business Inventories at 10:00, EIA Natural Gas Report at 10:30. All time EST.
Last Night: After late day Algo "Terminal Shakeout", all the weak hands got out. This allowed Globex on little to no volume lift price past the overhead shelf of resistance. Now, Is Globex over their skies?
Edge: New day new cycle. Some traders are saying PPI could be the answer.
7/8/9 AM: Holding in a tight 8 handle trading with 31 as support waiting on numbers.
Today: The bulls showed up. Can they contuine to run?
Globex: 20 handle trading range on 178 volume.
Cycle Bias: Favoried to bulls.
Tone: VIX trading at 13.24
Shape of the day: Odds and Probabilities
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH.
Pre Opening: After the numbers, price started knocking on that 40 handles door. Lost the 40, lost the 30 and looking for a bid.
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!
Offing Events: War in Ukraine is starting to gear up for full scale kinetic war. And now we have Leopards in the Fray. And now Jets (F-16's). Look for Spring Equnoix as demarkation war / no war. Cost of Inflation is raising $8 eggs and climbing. And the flow entering from Southern border.
Your edge is a series of trades, not just one trade or one day.
Dates: September 29 Harvest Moon 5:57 am. Autumn Equinox September 23 6:50 pm (all times est)
Last Friday's Opening print: https://mrtopstep.com/from-the-desk-of-wyckoff-trader-55/
