Emini and Forex Trading Update:Monday April 27, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini is in a bull trend on both the weekly and daily charts. Last week was an inside bar on the weekly chart. It is therefore a High 1 bull flag buy signal […]
Ask Al: Brazil price action community video podcast
Video duration 1hr 6min. Podcast first published January 28, 2020 by Portal Price Action, Brazil, for the Brazilian Brooks Price Action community. Brazil’s legion of Al Brooks price action fans FELIPPE: Hi, Al. How are you? AL: I’m very well, Felippe. Thank you for inviting me. FELIPPE: Thank you for being here, for attending this […]
Ask Al: Remdesivir Antiviral Drug News
Video duration: 12min 22sec Trading room breaking news What’s the news? I don’t know, and I don’t care, but it’s certainly a good bar for the bears. You’ve got a Head and Shoulders Top – left shoulder, head, right shoulder. I did nothing here, and I was too slow to sell that. That happened too […]
Emini weekly High 1 bull flag in April buy climax
Market Overview: Weekend Market Update The Emini should test down to 2500 – 2600 in May. There is a wedge top on the daily chart. But there are High 1 bull flag buy signals on both the daily and weekly charts. There will probably be one more brief leg up to the 20 week EMA […]
What should my trading position size be?
A beginner is quick to do the math. “If I make $100 a day with one contract, I will make $2 million a year with 100 contracts!” He is too quick to think about using big trading position size. Even when he starts out, trading what he thinks is a small position, he is usually […]
Emini doji candlestick on weekly chart just below weekly EMA
Emini and Forex Trading Update:Friday April 24, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini tested the open of the week and sold off yesterday. Today is Friday so weekly support and resistance can be important, especially in the final hour. Therefore, the open of the week […]
Price action is genetically based
Charts are the same as 100 years ago Now that computers dominate trading and markets are international, a common topic is whether the behavior of markets has changed. The movement on charts is called price action and it is a reflection of human behavior. Like all behavior, it is genetically based. People have always wanted to make […]
Importance of institutional trading
I always assume that in every major market, no trade can take place unless there is at least one institution willing to take the buy side and another institution willing to take the sell side. I also assume that both know how to make money. This means that there is almost always a way to […]
Price action and candlestick charts
Most successful traders use candlestick charts to make their money. In addition, they trade primarily or exclusively using price action. Although there is no universally accepted definition of price action, I use the broadest one. I say that it is simply any move up or down on any chart for any market. The smallest move […]
Emini testing 50% pullback from April wedge top
Emini and Forex Trading Update:Thursday April 23, 2020 I will update again at the end of the day. Pre-Open market analysis On Monday, the Emini turned down from a wedge top on the 60 minute and daily charts. Yesterday’s rally retraced half of this week’s selloff. However, the Emini collapsed at the end of the […]