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 structure.
Trade #1 is a spring in an uptrend on top of support. Target is the top of the trend channel (green trend line).
Trade #2 finds price at the top of the trend channel drawn from yesterday’s data points. We see demand wane at the top and negativity enter into the price action. Target: prior support or lower.
Trade #3 is another spring at support with demand coming in. Target: a push above the last swing high. This trade remains active with a current stop at break-even for a so-called, ‘free’ trade).
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