As I mentioned in my last post two days ago, the market had been coiling. This leads to trending conditions. As I said in my post, "Watch for volatility and activity to pick up near term." It certainly did today! The market began selling off overnight breaking below yesterday's low before the US Open. Unless you were trading in the overnight market, it was difficult to … [Read more...]
Trading The ES
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...]
Free Webinar: Preview of Chart Reading Mastery Course & Review of Current Markets
We are having a free preview webinar for our Chart Reading Mastery course that begins in late March. This course is designed for traders who would like to learn to read the market by its own action using the Wyckoff Method of Market Analysis. “I have never seen Wyckoff explained in such a simple and concise manner. It was a total package … Anyone who attends your program will … [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...]
