BPA trading room Q&A: October 2 & 6, 2015 Regarding scaling in, you often say traders scale in one point above or below and two points above or below. Sometimes you say scale in only when you get another good signal bar in the direction of your first position. How do you decide when you […]
Emini weekend update: January 2, 2016:
Learn how to trade breakout mode price action
Monthly S&P500 Emini futures candlestick chart: Learn how to trade breakout mode price action The monthly S&P500 Emini futures candlestick chart has both a double top and a double bottom after a buy climax. The monthly S&P500 Emini futures candlestick chart held above its monthly moving average for 38 months, which has happened only twice […]
Intraday market update: December 31, 2015
Day trading strategy for trading range price action
Posted 7:02 a.m. The Emini opened with a gap down, but it was followed by several bars with prominent tails. This was weak follow-through selling and it reduces the chances of a strong bear trend. The Emini is Always In Short, but it is far below the moving average, it is forming a lot of […]
Intraday market update: December 30, 2015
Learn how to trade when the Emini is overbought
Posted 7:09 a.m. The Emini broke below yesterday’s bull channel and found support at the beginning of the channel. It formed an early tight trading range, which increases the chances that today’s price action will resemble that of the past 2 days. If so, day traders will mostly scalp, and many will enter with limit […]
Intraday market update: December 29, 2015
Learn how to trade a break above a wedge top
Posted 7:04 a.m. The Emini gapped up, but it quickly formed doji bars. This increased the chances of trading range price action for the next hour or so, and for the rest of the day, whether or not there is a swing up or down in the 1st hour or two. At the moment, the […]
Intraday market update: December 28, 2015
Learn how to trade a tight trading range during the holidays
Posted 7:31 a.m. Today had 2 reversals in the first 5 bars, creating a breakout mode open. The yearly chart still has a 60% chance of having last year’s close tested this week, which means that we will see a 20+ point drop from here at some point this week. The bears got a breakout […]
Ask Al: Trading range breakout failures
BPA trading room Q&A: September 22, 2015 Days like this really destroy the progress I’ve built up for weeks. I usually sit aside. I tried today and got tricked into going with breakouts that looked strong. Can you talk briefly again about tips to not get into these awful trading range breakout attempts? Audio duration: […]
Intraday market update: December 23, 2015
Learn how to trade a tight trading range
Posted 7:01 a.m. The 1st 3 bars were dojis. This is tight trading range price action and it increases the chances of a lot of trading range price action today, and it increases the chances of a lot of tight trading range price action. Day traders will be willing to swing trade if there is […]
Intraday market update: December 22, 2015
Learn how to day trade a trend reversal
I will post around 7:04 a.m. The Emini sold off from above yesterday’s high, but the follow-through bars were bad for the bears. This increases the chances that the selloff will be a bear leg in a trading range. The bulls tried to reverse up from the 60 minute moving average, but the 3 big […]
Intraday market update: December 21, 2015
Learn how to day trade tight trading ranges after a sell climax
Posted 7:07 a.m. The Emini opened in a tight trading range just above the moving average. The bulls want an early low of the day and an opening reversal on the test of the moving average. The bears want a strong breakout below the moving average and a test of yesterday’s low. Because of the […]
