An early morning Wyckoff Spring right around the key level of 1300 (discussed in the previous post) ignited the market to rally back up and through 1305 level (yesterday’s low, also discussed as an important level). We learned the Spring setup in last night’s Chart Reading Mastery class and discussed the 1300 level as a key reference to watch vis a vis current market structure. When we can combine market structure with an important trade setup such as a Spring, … well trading doesn’t get much better than this.
We’ve been down serveral days in a row, and now volume is coming into the market strong – this is the most early morning volume we’ve seen in almost four weeks! Watch for a trend day to the upside. Conditions are ripe.
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