Posted 7:00 a.m. The Emini began with a limit order market just below yesterday’s high and the 60 minute moving average. The bulls want to get above yesterday’s high to trigger the buy signal on the daily chart. The 3 weeks down have created a wedge bull flag. The bears don’t care if the buy […]
Intraday market update: May 5, 2016
futures.io webinar: Distinguishing strong legs within trading range from those within trend
Strong legs in trading range versus trend Here is Al’s full webinar replay with futures.io (ex Big Mike Trading). Video duration 1hr 33min. You can also view this video on the futures.io YouTube channel. Webinar outline points covered When there is a strong move, look for early signs of evolution into a trading range […]
Intraday market update: May 4, 2016
Learn how to swing trade when trading range price action
Posted 7:05 a.m. The Emini gapped down, but entered a tight trading range. Both bull and bear limit order scalpers made money, increasing the chances for a lot of trading range price action today. Neither has much conviction, but both are making money scalping. The reversal up from below yesterday’s low was strong enough to […]
Intraday market update: May 3, 2016
Intraday trading strategy for trading range price action
Posted 7:02 a.m. The Emini broke strongly below yesterday’s low, but the follow-through was weak, the 1st 3 bars were dojis, and the breakout bar was exceptionally big, which means a possible exhaustion gap. While the Emini is Always In Short, this is climactic behavior in an oversold market. This is unlikely to result in […]
Intraday market update: May 2, 2016
Online day traders exit failed breakouts quickly
Posted 7:02 a.m. The Emini tested down to just above the moving average, and then reversed up to form an opening reversal. When an opening reversal comes just above the moving average, it is more likely to not lead to a rally. Also, yesterday is a buy signal on the daily chart, but it is […]
Ask Al: Pullbacks—when to enter
Entering pullbacks BPA trading room Q&A: March 18, 2015 Question: I have trouble working out when to enter on a pullback directly above or below the prior bar, or one point above or below. I want to wait for a deeper pullback, like a 50 percent pullback before entering. Any tips on when to get […]
Emini weekend update: April 30, 2016:
Learn how to trade a failed buy climax candlestick pattern
Monthly S&P500 Emini futures candlestick chart: Failed breakout above trading range The bar on the monthly S&P500 Emini futures candlestick chart closed today. It was a reversal bar, but the bar had a bull body and it followed a big bull trend bar. The bar on the monthly S&P500 Emini futures candlestick chart closed today, […]
Intraday market update: April 29, 2016
Sell climax candlestick pattern so trading range price action
Posted 7:00 a.m. The bears got follow-through selling on the open. The chance of a big bear trend day is 25%. There is still a 75% chance of at least a 2 hour trading range that starts before the end of the 2nd hour. When there is a Sell The Close open after a big […]
Intraday market update: April 28, 2016
Day traders see candlestick pattern as final flag top
Posted 7:01 a.m. The Emini reversed up sharply after a dip below the bottom of the FOMC bull reversal, and became Always In Long. The bears tried for an Opening Reversal down from the moving average and a 50% pullback, but the rally was strong enough to make this a low probability bet. It is […]
Intraday market update: April 27, 2016
Candlestick patterns and price action after an FOMC report
Posted 7:01 a.m. The Emini reversed up from a test of yesterday’s low, but lacked follow-through. Yesterday was a tight trading range. The Emini has not yet done enough to convince traders that it is about to have a swing up or down. It might reach a measured move up or down, based on the […]