Posted 7:15 a.m. Yesterday ended with an expanding triangle bottom at the bottom of a 4 day trading range. Today had an early higher low major trend reversal, but the 4 bull bars were not big and had tails. This is more trading range price action. Bulls and bears made money with limit order scalps, […]
Market Update Report for the S&P500 Emini (ES) and Forex (EURUSD) will be available to logged-in Brooks Trading Course members at about 6:20am US Pacific Time each day. The update will be available to everyone, including visitors, about 2 hours after market open.
Intraday market update: April 6, 2016
Intraday market update: April 5, 2016
Learn how to trade evolving price action
Posted 6:55 a.m. The Emini opened with a big gap down, and it sold off on the open. When there is a big gap down and an early selloff, the selloff usually lasts about 5 – 10 bars and then the Emini goes sideways to up to the moving average over the next couple of […]
Intraday market update: April 4, 2016
Learn how to trade price action at the all time high
Posted 7:07 a.m. The bulls tried for follow-through buying on the open, but the rally lacked consecutive big bull trend bars. It is still unclear if there will be an hour or two rally and then a trading range, or if the 2 hour sideways to down price action has already begin. The odds of […]
Intraday market update: April 1, 2016
Candlestick pattern is a 2 day island top
Posted 6:57 a.m. The Emini opened with a big gap down and 3 bear bars, but both had big tails below, and bull scalpers made money buying at the low of the prior bar. That is not what typically happens in a bear trend. It increases the chances of the Emini being mostly sideways to […]
Intraday market update: March 31, 2016
Online day trading when the price action is quiet
Posted 7:01 a.m. The Emini began with a tight trading range within yesterday’s range. This increase the chances of a lot of trading range price action today. A trading range day has at least one leg up and one leg down, but it is impossible to know which will come 1st until after it has […]
Intraday market update: March 30, 2016
Day traders see the weekly candlestick pattern as a breakout
Posted 6:52 a.m. The Emini gapped up and rallied. When that happens, especially after a buy climax, the rally usually lasts 5 – 10 bars and then the Emini enters a tight trading range for a couple of bars. This is what is most likely today. It sometimes forms a parabolic wedge top and a […]
Intraday market update: March 29, 2016
Day trading tip is to look for scalping candlestick patterns
Posted 7:13 a.m. The Emini had a gap down and traded below yesterday’s low, but the 1st 5 bars had big tails below and were in a tight trading range. The Emini reversed up from a small double bottom for a failed breakout below yesterday’s low and a possible low of the day. The rally […]
Intraday market update: March 28, 2016
Learn how to trade after a buy climax
Posted 6:52 a.m. Thursday was a buy climax and today opened with a selloff from above Thursday’s high, even though Thursday was a buy signal bar on the daily chart. The odds are that the Emini will enter a trading range for the 1st 2 hours today, and then decide between trend resumption up and […]
Intraday market update: March 24, 2016
Pullback price action for day traders
Posted 6:55 a.m. Today opened with a big gap down to around a measured move down based on yesterday’s range, and around the low of the bull channel of the past week. The bears failed to get continued early selling. This increased the chances for a sideways to up move to the moving average. The […]
Intraday market update: March 23, 2016
Learn how to trade a topping candlestick pattern
Posted 7:01 a.m. The day began with a gap below yesterday’s close and 4 consecutive bear trend bars. However, the tails were prominent and there was a lot of overlap, and limit order bulls were able to make money twice in the 1st 5 bars. This increases the chances that this is a bear leg […]