Posted 7:17 a.m. The Emini opened with tight trading range price action, which is breakout mode and a limit order market. Traders had to be patient. The magnet above was yesterday’s high. The magnets below were the moving average, the bottom of the final channel up at the end of yesterday at around 1966, the […]
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: August 28, 2015
Intraday market update: August 27, 2015
Price action patterns in a trading range
Posted 7:15 a.m. The Emini opened above yesterday’s high and formed an island bottom on the daily chart. It also went above the top of the gap (Friday’s low), but turned down. After 4 consecutive bear bars and a buy climax test of resistance, the Emini became Always In Short. However, the bull channel from […]
Intraday market update: August 26, 2015
Learn how to trade the market when candlestick patterns are big
Posted 7:25 a.m. The Emini opened with a big gap up and then had a trend from the open bear trend. A big gap up after yesterday’s big selloff is a reversal, but it is confusing and the result is usually a trading range. Today might be a second consecutive inside day. The bulls are […]
Intraday market update: August 25, 2015
Learn how to trade a climax
Posted 7:08 a.m. The Emini opened just below yesterday’s high and pulled back. The gap above yesterday’s high is resistance and the 15 minute moving average was resistance yesterday and is support today. The Emini had an early tight trading range with many dojis, and yesterday was a big trading range day. This is a […]
Intraday market update: August 24, 2015
Candlestick pattern is a sell climax
I will post around 7:10 a.m. The Emini had a huge gap down, but it is a pullback below the monthly moving average and 20 gap bar buy. The monthly bulls bought. There is a 70% chance that the low of the day is in. A measured move up from the bodies of the 2nd […]
Intraday market update: August 21, 2015
Learn how to trade the markets after a sell climax
Posted 7:15 a.m. The Emini opened with a big gap down below the March low after a huge sell climax yesterday, and reversed up from a trend from the open bull trend. The bears are trying to reverse the market down and keep the gap below yesterday’s low open, but the selling yesterday was so […]
Intraday market update: August 20, 2015
Possible buy candlestick pattern since the price action is oversold
Posted 7:35 a.m. The Emini opened with a big gap down to near the bottom of the 60 minute trading range. The bars had about twice the normal volume so the market clearly feels that this is an important location. It had an opening reversal down from just below yesterday’s low, but the follow-through after […]
Intraday market update: August 19, 2015
Price action trading strategies in a trading range
Posted 7:17 a.m. The Emini began with a gap down and a trend from the open bear trend. It had a sell climax down to the bottom of the 4 day trading range. The bulls are hoping for an early low of the day. They want this selloff to be a sell vacuum down to […]
Intraday market update: August 18, 2015
Trading price action after a buy climax
Posted 7:26 a.m. The Emini had an opening reversal up from the 15 minute moving average. It also had a few moving average gap bars. When they form late in a bull trend, they often lead to the final bull leg before an attempt at a major trend reversal. However, there has been weak follow-through […]
Intraday market update: August 17, 2015
Online day traders expect more trading range price action
Posted 7:19 a.m. Today sold off below yesterday’s low on the open, but had bad follow-through. The bulls tried to create an expanding triangle bottom for a possible low of the day, and the bears wanted a strong breakout below yesterday’s low for a test of the 2068 area, which is the bottom of the […]