WyckoffTrader-AMTurn-04092024
——– Original Message ——–
Subject: From Wyckoff Trader; 04/09-AM Turn Newsletter
Date: 2024-04-09 08:53
From: wyckofftrader@easymax.com
To: Content <content@mrtopstep.com>
Cc: Laura Cobb <lcobb82@gmail.com>
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 volatility seen over the final two sessions of the previous week, stocks turned in a relatively lackluster performance during trading on Monday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing narrowly mixed.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
I'm biased to the bulls side for many reasons. Some just based upon an intuitive feel. Wyckoff was like that. He'd call it intuition. And then he'd back it up as what he called confirmation of the market next behavior. He'd just put the trade on based upon a feel.
If you were like that on the spill down. Congratulations. Earlier in the night about 4:30 am you would have seen price tag the 5236.50 handle. You probably did not see it but you saw it when you got up. Price then rallied up to the 5266.75 handle. Then started to offer back down.
As the opening, price was working off the decline. So when 9:40 am came into view price was just past the halfway mark. And also above the floor trader pivot. So, put the trade on. Get long. The best you can hope for is the opening print. Too much wood to cut for price to pop all the way back to the Globex high.
You can however get long. Your next turn is AM HIGH. As price showed you an automatic rally, that was the confirmation but you probably just exited at the top around 10:00 am. That's ok got a 8 to 10 handle run. Notice price checks the spill down around 10:10 am and by 10:20 am was showing signs of buoyancy. That's the place to get long!
Why? Price has been in a potential area of minutes for about 40 mintues. Support levels have been raised from 5247, 5250, and 5251 handle. You are looking for the AM TURN HIGH. It's S4H day.
15 minutes later you can not be disappointed. The AM HIGH seals at 10:50 late and strong. Exit your trade cause the market is about to be eclipsed.
Wyckoff Trader,
P.S. If you've read this analysis, you might be curious when the best time to consider a position:
Based on the information provided, it sounds like the seasoned day trader would have put a long position on the eMini futures market at one of two points:
Based on the information provided, a seasoned trader looking to execute a day trade on the eMini futures market would have had an opportunity to put on a long trade at 9:40 am, as price had declined to just past the halfway mark and was above the floor trader pivot. This was the trader's confirmation to enter the trade, and they could have expected an 8 to 10 handle run.
Another opportunity to enter the trade would have presented itself around 10:20 am, as price showed signs of buoyancy after checking the spill down and being in a potential area of accumulation for about 40 minutes. Support levels had been raised, and the trader should have looked for the AM turn high, which occurred at 10:50 am. At this point, the trader should have exited the trade as the market was about to be eclipsed.
It's important to note that the trader's bias towards the bulls side, combined with their intuitive feel and confirmation from market behavior, played a crucial role in determining the best time to put on the trade. Additionally, the trader's understanding of support levels, potential areas of accumulation, and market trends helped inform their decision.
Be sure to use a stop with every trade placed to help mitigate potential losses, and only trade with risk capital that can be afforded to lose.
Additionally, it is important to keep in mind that the market can change quickly and what was a good trade opportunity at one point may no longer be valid at another. It is essential to use risk management techniques such as stop losses and position sizing to protect your capital.
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S1H with the spill odds down.
News: No news of note. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: I'm expecting Friday's and Monday's high to get taken out.
7/8/9 AM: Price is challenging yesterday's highs of 5266 handle.
Today: Need to hold the 5257 handle perhaps higher.
Bulls Want: 77, 09, 25
Bears Want: 43, 24, 14
Globex: 22 handle trading range on 128 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 15.24
Shape of the day: Start of new cycle with odds and probabilities
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Bought on Spll down. LONG
Tuna (30m 1+D) Bought on MID AM LOW. LONG
Sardine (5M-1D) Go short at the MID AM HIGH. Exited at the MID AM LOW. OUT.
Pre Opening: Seeing some supply at the 5268 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: February 24 Snow Moon 7:30 a.m. Spring Equinox March 20 5:24 pm (all times est)
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