Posted 7:07 a.m. The Emini sold off on the open to below the bottom of the 4 hour trading range, which was the low of the last 2 hour bar. That was the 1st pullback in a 14 bar bull micro channel on the 120 minute chart. Traders do not yet know if the double […]
Intraday market update: February 18, 2016
Intraday market update: February 17, 2016
Learn how to trade overbought price action
I will post around 7:03 a.m. The Emini gapped up and tested the top of the channel, but did not reverse down strongly. The 60 minute chart is overbought and TBTL sideways to down is likely to begin today or tomorrow. The bulls want the tight channel to continue up for many more days. That […]
Intraday market update: February 16, 2016
Learn how to trade a trend reversal
Posted 6:49 a.m. The Emini opened with a big gap up, but had 2 strong bear bars followed by a bull bar. The gap up made the Emini overbought, and the strong bear bars were a sign that traders were willing to sell. This increased the chances of mostly sideways to down trading for a […]
Ask Al: Stop management & scaling in
BPA trading room Q&A: June 17, 2015 (Part 1) Last week, you discussed proper stop management using the ES chart June 11th as your reference. In your book “Trading Price Action Trading Ranges,” you talk about initial stop just beyond the signal bar. Can you use a different stop strategy? Can you elaborate on the […]
Emini weekend update: February 13, 2016:
Day traders expect follow-through bullish price action
Monthly S&P500 Emini futures candlestick chart: Learn how to trade a buy flag in a buy climax The monthly S&P500 Emini futures candlestick chart remains in a yearlong trading range after a 7 year buy climax. The monthly S&P500 Emini futures candlestick chart is still in a bull flag at the moving average. Because is […]
Intraday market update: February 12, 2016
Price action day traders expect a rally
Posted 7:09 a.m. The Emini gapped above yesterday’s high and formed an island bottom on the daily chart. However, the first bars were small and had small bodies with a lot of overlap. Although 4 consecutive bear bars made the market Always In Short, this was a limit order open, and traders were waiting for […]
Intraday market update: February 11, 2016
Day trading tip is to be ready for a bull pain trade
Posted 7:13 a.m. The Emini opened with a big gap down and then rallied. The rally had weak follow-through and it looks more like a bull leg in a trading range. Unless the bulls are able to create big consecutive bull trend bars, the odds are that there will be a bear leg that starts […]
Intraday market update: February 10, 2016
Day trading tip is to be ready for a bear rally
Posted 7:09 a.m. Today began with a limit order open just below yesterday’s high and last week’s low. The 2 day rally has been a bear flag. Coming into the day, the bulls wanted a bull breakout back above last week’s low and into the upper trading range. The bears wanted a reversal down from […]
Intraday market update: February 9, 2016
Learn how to trade when the price action is confusing
Posted 7:00 a.m. Today opened with a big gap down and the bulls bought it aggressively, creating a trend from the open bull trend and the 4th big reversal since yesterday’s gap down. Even though the swings up and down have been very big, this is trading range price action. There will probably be a […]
Intraday market update: February 8, 2016
Learn how to trade a gap down in a trading range
Posted 7:00 a.m. The Emini opened with a big gap down, but then then reversed up and down with big bars. This increases the chances that the Emini will enter a trading range for a couple of hours until it gets closer to the moving average. At that point, bulls will see a bottom, like […]