Anatomy of a Day Trade Here is a trade taken this morning (Friday, June 15th). We’ll see how this set up, was traded and it’s outcome. Last night in my weekly Deep Practice program, I cautioned members that the weekly chart was looking weak. The narrow range of the past four days didn’t inspire bullish confidence. We discussed the weekly and noted that were the … [Read more...]
Scratch Trade
Scratch Trade Do you scratch trades? By scratching, I don’t mean rubbing your trade aggressively. It’s taking the trade off when things are working out. Usually, we exit the trade in a scratch at or very close to entry. No gain, no loss – a scratch trade. Here’s a good example of a scratch trade from this morning's trading: Example of a Scratch Trade I came into … [Read more...]
Wyckoff Morning Trade
Wyckoff Morning Trade Yesterday, a Wyckoff Spring lit the market and triggered a strong rally. Last night in the Asian and European session, there was not much trading and no real follow through to the upside (you see this clearly on the tick chart). What trading did occur left us overbought in the trend channel. What happened to all that buying from … [Read more...]
Wyckoff Principles in Morning Trading
Wyckoff Principles in Morning Trading Yesterday morning, it was all about Wyckoff springs. Springs are bullish trades that occur when an important support has been penetrated, but fails to follow through to the downside. This morning, it wasn't about bullishness, but weakness. We got the opposite of a spring this morning: an upthrust. The S&P futures made a new … [Read more...]
Morning Trades
Morning Trades: Wyckoff Trading This has been a very good morning for Wyckoff traders in the S&P futures. The market continued to rally after yesterday’s strong up move. It’s not a surprise to see follow-through the next morning. Two long trades (one still active as of this writing) and a short, all based on the interplay between Wyckoff principles and market … [Read more...]
