Posted 8:39 a.m. The Emini opened with a trading range just below the moving average and just above the high of last week. This is a breakout mode open, and a limit order market for scalpers. Most day traders should wait for a strong breakout with follow-through up or down. The swing trade should go […]
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: June 19, 2015
Intraday market update: June 18, 2015
Learn how to swing trade
Posted 7:04 a.m. The Emini began with a trend from the open bull trend. However, it might be forming a parabolic wedge top near last week’s high. If there is a strong sell signal bar after the 3rd push up, swing bears will sell. Bears wanting a higher probability short will wait for a strong […]
Intraday market update: June 17, 2015
Day trading tip for an FOMC report
Posted around 7:33 a.m. The Emini opened above the bull channel of the past 2 days, which is a type of buy climax. There is a 75% chance that a bull breakout above a bull channel will fail within about 5 bars and then go sideways to down to the bottom of the channel. The […]
Intraday market update: June 16, 2015
Neutral candlestick pattern on the daily chart
Posted 7:21 a.m. The bulls got a strong breakout above yesterday’s tight trading range, but the rally lasted one bar and stalled at the 60 minute moving average, Friday’s low (the top of the gap on the daily chart), and at the leg 1 = leg 2 target based on yesterday’s early strong bull breakout. […]
Intraday market update: June 11, 2015
Learn how to trade a strong breakout
Posted 7:07 a.m. The bulls tried for bull trend resumption on the open, but the rally was weak. Also, yesterday’s 5 hour tight trading range after a buy climax is a possible final flag. It is an area where bulls and bears agreed that the price was fair. The bulls need to break strongly above […]
Intraday market update: June 10, 2015
Learn how to trade a weak reversal
Posted 7:08 a.m. The Emini gapped up and had a trend from the open bull trend. The rally lacked big bull trend bars, and this increases the chances of an early trading range. Also, it reached last week’s trading range, and it might again go sideways here. Finally, the first 6 bars created a parabolic […]
Intraday market update: June 9, 2015
Learn how to trade a spike and channel bottom
Posted 7:25 a.m. The bears got follow-through selling, but the bulls are trying to create a major trend reversal. After the big sell climax on the 2nd and 3rd bars of the day occurring 100 bars into a bear trend, and after yesterday’s gap bars, the odds favor an early low of the day and […]
Intraday market update: June 8, 2015
Learn to trade futures in breakout mode
Posted 7:11 a.m. The Emini opened today with a continuation of yesterday’s weak bear channel. It is testing yesterday’s low, which was last week’s low. It should reach the weekly moving average today or tomorrow, and possibly within the first couple of hours. Because this selloff lacks consecutive big bear bars and is testing support, […]
Intraday market update: June 5, 2015
Trading price action after a big gap
Posted 7:07 a.m. The Emini sold off strongly on the open, but the selloff tested the bottom of a possible 5 day expanding triangle. Also, yesterday’s late trading range is a possible final flag, and a smaller expanding triangle. The bulls are hoping for an early low of the day. The bears want any early […]
Intraday market update: June 4, 2015
Price action trading in a trading range
Posted 7:15 a.m. The S&P Emini futures contract opened with a series of big bars and reversals, creating an early limit order market at yesterday’s low. It then reversed up strongly to the 60 minute moving average. It is always in long, but follow-through has been bad after strong breakouts for the past week, and […]