Posted 6:54 a.m. The Emini sold off on the open to below the 60 minute moving average down to a 50% pullback of yesterday’s rally. The channel down had about 15 bars and it was tight. This means that the 1st reversal up will probably be minor. A minor reversal is a leg in a […]
Intraday market update: May 17, 2016
Intraday market update: May 16, 2016
Sell climax trading
Posted 6:54 a.m. Friday was a sell climax. Today had a 75% chance of at least a couple of hours of sideways to up trading beginning by the end of the 2nd hour. It might have begun at the end of Friday. The Emini began with a series of bull trend bars that rallied above […]
Ask Al: Outside Bars
Significance of outside bars BPA trading room Q&A: August 17, 2015 Question: What’s the significance of outside bars like 5, 7, and 29? Video duration: 2min 54sec You can also view this video on Al’s YouTube Channel if needed. Context important Outside bars — I talk about them in the books and the video. They […]
Emini weekend update: May 14, 2016:
Trade a trend reversal candlestick pattern
Monthly S&P500 Emini futures candlestick chart: Might trigger sell signal The monthly S&P500 Emini futures candlestick chart is moving down and it might fall below last month’s low. This would trigger a sell signal for a failed breakout above a 2 year trading range. The monthly S&P500 Emini futures candlestick chart still has not triggered […]
Intraday market update: May 13, 2016
Learn how to trade a triangle candlestick pattern
Posted 7:02 a.m. The Emini rallied on the open after a breakout test of yesterday’s 10:05 a.m. breakout point. The Emini will probably get a 2nd leg up today and reach a Leg 1 = Leg 2 target, but the bear channel at the end of yesterday was tight. This often means that the bulls […]
Intraday market update: May 12, 2016
Learn to trade opposite candlestick patterns
Posted 6:52 a.m. After 2 days of extreme trending and bad limit order trading, the odds are that today will have a lot of limit order trading. Traders are uncertain and they will be quick to take profits. In the 1st 4 bars, both limit order bulls and bears made money. While it is likely […]
Intraday market update: May 11, 2016
Learn how to trade buy climax candlestick pattern
Posted 7:07 a.m. The day began with a gap down. Both bulls and bears made money with limit orders. This increased the chances for a lot of trading range price action today. The bulls so far are not getting their follow-through buying. There was a 75% chance of at least 2 hours of sideways to […]
Intraday market update: May 10, 2016
Price action trading strategy is expect 2nd leg up
I will post around 7:11 a.m. The Emini gapped above yesterday’s high, creating the possibility of a bull breakout above a 60 minute, 2 day bear flag and a measured move up. Although today began as a trend from the open bull trend, the follow-through buying was not strong. This makes a big bull trend […]
Intraday market update: May 9, 2016
Learn how to trade a minor candlestick pattern buy signal
Posted 7:10 a.m. The Emini continued Friday’s rally on the open, but the rally has now lasted over 60 bars in a relatively tight bull channel. This reduces the chances of a big bull trend day, even though the Emini triggered the Wedge Bull Flag buy when it traded above Friday’s high. Not only is […]
Ask Al: Profitable trading skills — how long?
BPA trading room Q&A: March 30, 2016 Question: How long would you suspect it takes to build a sufficient skill to become consistently profitable? Audio duration: 4min 45secs Trading skills for consistent profitability That is such a personal issue. It took me 10 years to figure it out. I’d come out of a medical […]
