Introduction Systematic trading is much more than trading based on a pre-determined algorithm. There are many parts in a trading system, and trading systems design of the system itself is only the strategic component of a trading program. Let’s illustrate its impact using an example. Although there are no secret trading strategies, meaning strategies […]
Proposed 2-day workshop and live trading event, updated May 16, 2022
To help meet the strong demand for Al Brooks to engage in live trading events, Al is considering holding a 2-day workshop in Orlando, Florida, on Wednesday and Thursday November 2nd and 3rd, 2022. We have been inundated with requests from traders all over the world to hold such events and we are expecting the event […]
EURUSD Forex failed breakout from final flag
The EURUSD Forex pulled back after testing the 2017 low. The 10-day tight trading range from the end of April potentially is the final flag of the trend. Bulls want at least a 2 legged sideways to up pullback following a parabolic wedge (August 20, November 24, May 13) and a trend channel line overshoot.
likely be minor and traders expect at least a small second leg sideways to down after the pullback.
Nasdaq 50 percent retracement from pandemic low to all time high
Market Overview: NASDAQ 100 Emini Futures This week’s Nasdaq Emini candlestick is an outside bear bar with a close above last week’s low. This is the seventh consecutive week with a bear bar. The market is at a Nasdaq 50 percent retracement from the low of the pandemic to the all-time high. Buyers on higher time frame […]
S&P500 Emini bears follow through on weekly chart
The bears got a bear follow-through bar on the S&P 500 Emini futures weekly chart. There are 7 consecutive bear bars on the weekly chart, something that has not happened since February 2001. It increases the odds of a bull bar within the next 1- to 3-weeks.
pullback (bounce) would be minor.
Nifty 50 futures double bottom at bottom of trading range
Market Overview: Nifty 50 Futures The Nifty 50 futures on the weekly chart formed a double bottom at bottom of trading range which is also the bottom of a bull micro channel. Nifty 50 on daily chart still in the broad bear channel and forming wedge bottom near March month low which is strong support. Nifty 50 […]
DAX 40 double bottom in bear channel
Market Overview: DAX 40 Futures DAX 40 futures moved slightly higher last week with a DAX 40 double bottom in a bear channel. It is a tightening range so it’s breakout mode. It looks more bullish on the daily chart however with a possible higher low major trend reversal. The bulls want some follow through […]
FTSE 100 tight trading range at 20-week MA
Market Overview: FTSE 100 Futures FTSE 100 tight trading range with market moving sideways last week as traders decide on a direction. We have had at least 2 breakouts in either direction so we can expect more sideways trading next week. It is a tightening range on the daily which is favoring limit order traders […]
Emini likely to continue sideways
Trading Update: Friday May 20, 2022 Emini pre-open market analysis Emini daily chart Wednesday bear breakout bar and yesterday’s weak bull doji bar add further confusion to the market and increases the odds of more trading range price action The bears got disappointment after Wednesday’s big bear breakout bar. The bulls hope that yesterday is […]
Emini will likely have to reach 20% correction
Trading Update: Thursday May 19, 2022 Emini pre-open market analysis Emini daily chart Emini yesterday was a big bear trend day reversing the past three trading days. This is a sign that the market may have to go lower and likely reach 20% correction (3,839.75). May 18 is a big enough surprise bar to increase […]
Emini at resistance and likely to disappoint bulls today
Trading Update: Wednesday May 18, 2022 Emini pre-open market analysis Emini daily chart Emini at resistance with yesterday’s bulls getting within 10 points of the February 24 low. There will likely be some profit-taking in this area from scale in bulls who bought betting against the bear breakout below February 24. Since the market is […]
Emini testing back into bottom of 3-month trading range
Trading Update: Tuesday May 17, 2022 Emini pre-open market analysis Emini daily chart Emini yesterday was a doji bar following Friday’s entry bar. This is disappointing for bulls and a sign of trading range price action. The market is getting near the bottom of the 3-month trading range (February – April) and will likely test […]
