OrderFlow – Weekend WorkPosted on Mar 28,2019
Over the past several months AMS has embarked upon providing real, live tutorial assistance to those who employ the AMS suite of tools; MarketProfile, DeltaPrint and BookFlow. We are becoming the most recognized OrderFlow go to platform available in today’s market. Relationships at all levels are building and we thank you for being part.
From time to time I’ll impart upon the masses a little more information as to how The Wizard trades. Don’t get too excited, I do not trade that often but after 50+ years of doing this my regular weekly preparation is pretty much etched in stone. The best example of this is what I do over the weekend.
It’s Friday afternoon, the markets have just closed and it’s time for me to get to work. While I still trade ES from time to time most often I trade currencies, debt, soybeans, coffee and other futures that are either near their “highs” or “lows”. To determine which of these futures exhibit sought after characteristics I begin by looking at monthly then weekly candlestick charts. Each commodity is run through the “test” and those that survive, the ones near their “highs” or “lows” (tradable ranges) are the commodity futures we take to the next step.
Last week soybeans, dollar index, several currencies and coffee lit up the screen. Coffee is close to its “all time” low. At some point growers will realize they cannot make enough money to live with coffee futures at this price. They’ll look to allocate land to other more profitable agricultural products decreasing the supply of coffee. Regardless of the reason for the price to increase or decrease the fact that coffee is hanging around an all time low is enough for us to call it a “candidate”.
Then like we have discussed in related blogs we first apply MarketProfile to determine the most likely price ranges that will ensue as trading kicks off on Sunday night / Monday morning. We then turn our attention to the DeltaPrint screen and further define our daily expected ranges, entry and exit points. Then if all of the planets align and Trump’s expected actions align we trade. The Dollar Index has proven to be the lynchpin in most of what is transpiring worldwide in the markets and was the second best candidate last week.
Will this weekend be different, not sure at this point but look for another blog to be posted on Sunday as the markets open with a list of what we are looking to trade next week. We expect Coffee and the Dollar Index to win out again this week but ES close to solid support levels @ 2,805 and 2,795 may bring it into focus as well.
This is my regular weekend routine. This is what I do each and every time and the steps I take. we are going to continue these blogs throughout the coming week as we take you through what is essentially a “Week With The Wizard”.
We knew that if you learned how to use our tools you would. OrderFlow is still relatively new but once you get a handle on the power of the AMS DeltaPrint (c) Suite of tools that make it all possible it will become your go to final decision making tool.
Want to know more about our tutorial programs and learn how to use OrderFlow tools then email AMS at firstname.lastname@example.org. Want to communicate directly with to The Wizard then email me at email@example.com. I don’t bite and appreciate the contact.
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