It was another good day of trading in the S&Ps. You might not know it from the daily chart, as the dailies are contracting. But the intraday has been quite lively. Today's action was pretty classic Wyckoff trading. I am showing the full Globex session on the 3,000 tick chart. I like using tick charts because they capture the overnight moves nicely and even during the … [Read more...]
Today’s Trading – You’ve Gotta Love Those S&Ps!
You have to love days like this. The S&Ps offer so many great opportunities. It is no wonder that so many traders work the ES day after day. In the opening range, it appeared that buying was coming into the market. The overnight had stayed within a narrow range and it seemed reasonable that the S&Ps would take a shot at trading through the high of three days … [Read more...]
Anatomy of a Trade
Patience was the watchword for today, as it so often is. We have been in a nice rally the past two days after a good selloff. So, we can expect that the market would pull back at some point soon. That point happened today. What I would like to show in this post is how to integrate market structure and trade setup triggers. We start with the 9,000 Tick Chart, a chart that … [Read more...]
MoneyShow.com Article – Deep Practice
I've just published an article on MoneyShow.com. It's called Three Steps to Becoming A Great Trader, and it is all about developing trading excellence through Deep Practice. Although most people think that genes play a huge role in a person's success, noboby is born to be great at any chosen skill or field, trading included. Over 35 years of solid psychological research … [Read more...]
Wyckoff Spring in S&Ps
The market was sloppy yesterday morning, and then traded lower in the latter part of the morning through the noon hour. The night before in the overnight session, the market fell sharply to make a new low. Moves like this are usually tested. And this occurred yesterday. The test set up a picture-perfect Wyckoff Spring. This is one of my favorite long-side setups where the … [Read more...]
