Posted 6:48 a.m. The Emini opened at the bottom of yesterday’s final bull channel, forming a double bottom at the 60 minute moving average. The first 3 bars formed a tight trading range, which increases the chances of more trading range price action today. Also, the bear breakout below yesterday’s bull channel increases the chances […]
Intraday market update: June 2, 2016
Intraday market update: June 1, 2016
Learn how to trade bullish breakout price action
Posted 7:05 a.m. The Emini reversed up from below yesterday’s low, forming an expanding triangle bottom. However, the early bars were small and had prominent tails. This is trading range price action. The context is good for the bulls, but they need a strong bull reversal before they will swing trade. The bears see the […]
Intraday market update: May 31, 2016
Bullish price action and possible outside up candlestick pattern
Posted 6:58 a.m. The Emini opened with small bars and prominent tails at the 2100 resistance level. Bulls and bears made money in the 1st few bars. This is a limit order open, and the Emini might stay sideways for an hour or more while it waits for a breakout up or down. The Emini […]
Ask Al: Scalp or swing to supplement income
Supplementing income with trading BPA trading room Q&A: April 1, 2016 Question: I’m a senior looking to supplement my pension by trading. I’m not just looking to make a fortune, just a steady, consistent income. Do you think it’s better for me to scalp, or swing trade, or should I do some of both? Video […]
Emini weekend update: May 28, 2016:
Price action shows bull trend resumption after small bull flag
Monthly S&P500 Emini futures candlestick chart: Strong reversal up from sell signal The monthly S&P500 Emini futures candlestick chart has one trading day left. The bulls have a 50% chance of turning May into an outside up month (with a low below April and a high above April) with a close at a new all-time […]
Intraday market update: May 26, 2016
Day trading tip is buy pullback after bullish price action
I am on leave Thursday and Friday, and will not do an intraday update on Thursday. I am writing Wednesday night and the market might look very different once it opens on Thursday. Pre-Open Market Analysis S&P 500 Emini: Day trading tip is to buy a pullback after bullish price action Breakout of High 2 […]
Intraday market update: May 24, 2016
Learn how to trade second signal candlestick patterns
Posted 6:56 a.m. The Emini gapped above yesterday’s high and had a Trend From The Open Bull Trend for several bars. The rally was strong enough so that bulls will probably buy the 1st reversal down. It was also strong enough to make a bull trend day more likely than a bear trend day. Today […]
Intraday market update: May 23, 2016
Weak price action in buy candlestick pattern
Posted 6:53 a.m. The Emini began with limit order trading around yesterday’s close and in the middle of yesterday’s trading range. The bulls were hoping that yesterday’s late rally was the start of a 2nd leg up. The bears wanted another lower high in the bear channel that began early yesterday, and they want to […]
Ask Al: Market profile for trading
BPA trading room Q&A: March 30, 2016 Market profile is a popular trading system for many and Al was asked whether or not he uses it in his trading. Audio duration: 4min 12secs Market profile not for everyone! Somebody asked about market profile. Do I use market profile in my trading? I spent a […]
Emini weekend update: May 21, 2016:
Learn how to trade failed candlestick patterns
Monthly S&P500 Emini futures candlestick chart: Weak sell signal The monthly S&P500 Emini futures candlestick chart had a weak sell signal last month after a very strong rally. So far, the sell entry bar is also weak. Regarding the monthly S&P500 Emini futures candlestick chart, I have been saying since the end of April that […]
