Posted 7:30 a.m. The bulls got an opening reversal at the moving average, and then rallied above yesterday’s high and the 60 minute bear trend line. However, the breakout so far has had weak follow-through buying and this increases the chances that the current bull leg will end up as part of a trading range. […]
Intraday market update: June 3, 2015
Intraday market update: June 2, 2015
Day trading strategies at support
Posted 7:09 a.m. The Emini sold off on the open, but reversed up from below yesterday’s low and the bottom of the 3 day trading range. The reversal was an expanding triangle bottom with a micro double bottom. However, the channel down from 68 yesterday was very tight, and this usually limits the extent of […]
Intraday market update: June 1, 2015
Day trading strategies for possible trend resumption
posted 7:15 a.m. The Emini reversed down from the neckline of a double bottom from yesterday and sold off sharply to test yesterday’s low. The selloff was big enough to make a bull trend day unlikely, but since the Emini reversed up so strongly, a bear trend day is unlikely as well. The reversal up […]
Emini weekend update: May 30, 2015:
Price action trading strategies in a buy climax
Monthly S&P500 Emini futures candlestick chart: Buy climax, but not yet high probability trading for the bears The monthly S&P500 Emini futures candlestick chart is in a small pullback bull trend, but the past 7 weeks have been essentially in a tight trading range that is sloped upward. The monthly S&P500 Emini futures candlestick chart […]
Intraday market update: May 29, 2015
Candlestick pattern is a buy signal bar
Posted 7:09 a.m. Although the Emini sold off on the open, there was a lot of two-sided trading within yesterday’s trading range. This is a trading range open and it increases the chances of a lot of trading range price action today. The bulls want a double bottom with yesterday’s low or a failed breakout […]
Intraday market update: May 28, 2015
Forex price action shows an overbought dollar
Posted 7:15 a.m. After yesterday’s buy climax, two-sided trading was likely today, and today opened in the middle of yesterday’s channel and between the 5 and 60 minute moving averages, and the first several bars were sideways and had prominent tails. This is a trading range open, and it is a sign that today might […]
Intraday market update: May 27, 2015
Daytrading strategy after a sell climax
Posted 7:15 a.m. The Emini began with a trend from the open bull trend and tested the 60 minute moving average on the open. The rally from yesterday’s low is climactic, which increases the chances for a reversal or pullback that could last for 20 or more bars. The Emini is Always In long and […]
Intraday market update: May 26, 2015
Learn how to trade a tight trading range
Posted 7:15 a.m. The Emini gapped down below the 5 day trading range and had good follow-through selling. This is a breakout below the bottom of the 3 week bull channel and a failed breakout to a new all-time high, and it will probably be followed by lower prices over the next several days. The […]
Emini weekend update: May 23, 2015: Learn how to trade a breakout to a new high
Monthly S&P500 Emini futures candlestick chart: Swing traders are still long The monthly S&P500 Emini futures candlestick chart is overbought, but the tight channel bull trend has no sign of a top yet. The monthly S&P500 Emini futures candlestick chart is continuing its small pullback bull trend, but it is very overbought. There is a […]
Intraday market update: May 22, 2015
Price action trading strategies at an all time high
Posted 7:45 a.m. The Emini reversed up from below yesterday’s trading range, but there was no immediate follow-through buying. The bears wanted an opening reversal down from the moving average. This is a trading range open, and since yesterday was also a trading range, it increases the chances of a lot of trading range price […]
