WyckoffTrader-AMTurn-11202023
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 lackluster performance seen during Thursday's session, stocks continued to experience choppy trading on Friday. The major averages spent the day bouncing back and forth across the unchanged line before closing slightly higher. Choppy trading as traders taking a moment.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading . rinciples
After the 8:30 am number price seemed to be in a sell hit the bid mode. As the market opened, the previous day's close was taken out and price moved down for 10 minutes. If you look at the halfway retracement of the previous day that's where a bid seemed to check the down move. 50 minutes later price taged the previous days close.
Supply entered back in. The about 50 minutes later we got a spring of the current day's low. The spring embolden the bulls as 15 minutes later price was wetbeaking the previous day's close once again. 10 minutes later we have a test of the spring as price finds a bid at a higher low.
Looking at the chat on page 4 you can see price is holding a bid at a potential accmulation around the blue line at the floor trader pivots. Look at the support and overbought line. You can see how price is neatly traded within those boundrys.
Notice as 12:10 pm price get's overbought and start to trade back down toward the support line. Price respects the support line at 12:30 pm and then starts to trade back up again. Now notice at 2:10 pm price is unable to move up the test the overbought line. This is telling you the bulls who once had a great force and following is starting to fade.
It's telling you a change in trend is in the works. Notice a 2:30 pm price crossess the support line. Notice how price is held at the 5/8 around 2:40 pm.
Notice at 3:05 pm price upthrust on greatly increased volume. More importantly price is on the other side of the support line and is unable to penetrate. This is telling you supply is entering back into the fray and the path of least resistance is to the downside.
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good morning today is SERIES S4H NORMAL with the spill down.
News: No news of note. All time EST.
Last Night: Over the weekend price worked itself into an apex and got itself out of the apex around 4:00 am to the up side. Found supply around 5:00 am then then pulled back to the suport line.
Edge: It's the beginning week and last day of cycle. You could see price push for higher highs.
7/8/9 AM: Price is in a slight up trend looking to challenge the 55 handle. (same as Friday)
Today: No news with a holiday week coming into view. Price may get weak and push for higher highs.
Bulls want: 45, 57, 62
Bears want: 20, 08 ,93
Globex: 14 handle trading range on 148 volume.
Cycle Bias: Favored to the bull
Tone: VIX trading at 13.84
Shape of the day: With holiday week potential for inside day chop trading.
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Bought in their shorts at from last week OUT
Tuna (30m 1+D) Bought in their shorts at from last week. OUT
Sardine (5M-1D) Got long 11:00 am. Bailed at the CLOSE. OUT
Pre Opening: No responce with just a slight bearish bias to start to opening print.
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: September 29 Harvest Moon 5:57 am. Autumn Equinox September 23 6:50 pm (all times est)
