Posted 6:54 a.m. The early selloff made it likely that the 2 hours of sideways to down trading that I was expecting has already begun and that today will not have early follow-through buying. The odds favor a trading range that lasts at least a couple of hours. Since it probably began yesterday with the […]
Intraday market update: March 17, 2016
Intraday market update: March 16, 2016
Day trading tip is to expect a selloff after the FOMC report
Posted 7:03 a.m. The Emini rallied from an expanding triangle bull flag on the open, and formed a trend from the open bull trend. Expanding triangle bull flags are usually followed by an attempt at an expanding triangle top. Also, an open with a couple of buy climaxes often forms a parabolic wedge top and […]
Intraday market update: March 15, 2016
Online day trades should see a Low 5 candlestick pattern
Posted 6:52 a.m. The Emini gapped down and triggered the Low 5 sell signal on the daily chart. It reversed up after closing the gap above Thursday’s high and the test below the 60 minute moving average. The initial reversal up was not strong. The 1st 2 bars were not big and they had prominent […]
Intraday market update: March 14, 2016
Learn how to trade the markets after a buy climax
Posted 7:15 a.m. Yesterday was in a bull channel, but it contained mostly small overlapping dojis, which means that it was probably going to be a bull leg in a trading range. Today broke below the bull channel on the open, but the small bars continued on the open. This increases the chances that today […]
Ask Al: Other online traders
Similarities between Al and other traders known BPA trading room Q&A: December 7, 2015 Al, can you talk about any interesting similarities between your approach and the approach of other traders you’ve traded with over the years? Audio duration: 2min 53secsScroll down for chart Price action online traders I don’t know. I think I […]
Emini weekend update: March 12, 2016:
Bullish price action but buy climax
Monthly S&P500 Emini futures candlestick chart: Bull flag after buy climax The monthly S&P500 Emini futures candlestick chart has a strong entry bar so far for the buy above last month’s buy signal bar, but it is still within a 2 year trading range after a buy climax. The monthly S&P500 Emini futures candlestick […]
Intraday market update: March 11, 2016
Learn how to day trade an expanding triangle
Posted 6:54 a.m. Although today gapped above last yesterday’s high and traded above last week’s high, it opened with a tight trading range and small bars. This makes it likely to have limited upside. Any reversal down would trigger an expanding triangle top and a failed breakout above last week’s high, but the bears will […]
Intraday market update: March 10, 2016
Bullish price action for online day traders
Posted 7:02 a.m. The Emini broke above yesterday’s high, triggering the High 1 buy setup on the daily chart, but because the 5 day rally was climactic, the Emini might need to pull back and form a High 2 buy setup before it can have its 3 – 5 day rally. The 1st 4 bars […]
Intraday market update: March 9, 2016
Day trading tip is to expect bullish price action
Posted 6:57 a.m. Today began with reversals, big bars, prominent tails, which is trading range price action, and it took place between the 5 and 60 minute moving averages. This increases the chance of more trading range price action throughout the day. The bulls want a higher low major trend reversal. The bears want another […]
Intraday market update: March 8, 2016
Learn how to trade a buy climax pullback
Posted 7:07 a.m. The Emini traded below yesterday’s low, creating the pullback on the daily chart. The odds are that it will be bought and be followed by a 1 – 3 day rally to above the March high, and then have a trading range. What we do not yet know is how far below […]
