Posted 7:19 a.m. The Emini had 6 bull bodies in the 1st 6 bars, but it could not create consecutive strong bull bars, and the rally was still in the middle of yesterday’s trading range. This is trading range price action, even though it was bullish enough to make the Emini Always In Long. Because […]
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 14, 2015
Intraday market update: August 13, 2015
Learn how to trade futures after a rally
Posted 7:47 a.m. The Emini tested yesterday’s high on the open, and could not get above it. This is similar to July 8, which also followed a huge bull day. Day traders have to be aware that yesterday was a big day, and today might try to be an inside day, which means an early […]
Intraday market update: August 12, 2015
Learn how to trade legs in a trading range
Posted 7:24 a.m. The Emini opened with a big gap down to around the bottom of the 60 minute trading range, and it then entered a bear channel where the follow-through was bad for the first 7 bars. This increased the chances that the selloff will evolve into a trading range within the couple of […]
Intraday market update: August 11, 2015
Candlestick analysis after a gap down
Posted 7:16 a.m. The Emini began with overlapping bars and many reversals. This increases the chances of a trading range day, which was already likely. The Emini is in breakout mode. Traders are looking for a breakout with good follow-through in either direction, and then they will expect at least a measured move, based on […]
Intraday market update: August 10, 2015
Intraday trading strategies when there is a gap up
Posted 7:22 a.m. The Emini had a strong bull bar on the open and then a trend from the open bull trend, but the follow-through after the 1st bar was bad. This increased the chances of a sideways to down pullback to get closer to the moving average. However, when there is a gap up […]
Emini market update: August 7, 2015
How to trade online when the market is oversold
Posted 7:50 a.m. The Emini opened with big bars and many reversals, creating a big tight trading range. Risk was big and probability was low, and traders were entering with limit orders, betting breakouts would fail. They were selling above bars and buying below, and scalping. The Emini was oscillating below the moving average and […]
Emini market update: August 6, 2015
Learn how to trade futures in a trading range
I will post around 7:24 a.m. The Emini began with a trend from the open bear trend. The bulls hope that the selloff will lead to an early low of the day. There is a 2 day wedge bull flag, a parabolic wedge, and an expanding triangle. However, after 7 bars without a pullback, the […]
Emini market update: August 5, 2015
Learn how to trade a big gap
Posted 7:08 a.m. The bulls had a trend from the open bull trend, but there were tails and bad follow-through, which reduce the chances of a big early rally. Although the Emini is Always In Long, this rally so far is weak, and that increases the chances that the Emini will be sideways for an […]
Emini market update: August 4, 2015
Options trading for a bearish candlestick pattern
Posted 7:49 a.m. The Emini had a reversal up and a reversal down in the 1st 5 bars, creating a breakout mode candlestick pattern just below the 60 minute moving average, which was resistance yesterday. Day traders are looking for a breakout up or down, and then a measured move. Although the Emini broke above […]
Emini market update: August 3, 2015
Learn how to trade the market in breakout mode
Posted 7:37 a.m. The bulls got a lower low major trend reversal on the open after a brief sell climax. The reversal up was not strong, and the bears created a double top bear flag and a triangle at the moving average. The day started in breakout mode, and both sides needed a breakout with […]