Posted 7:43 a.m. The bears had a trend from the open bear trend, but failed to get below yesterday’s low, which was the bottom of the bull reversal. The bulls then formed a higher low major trend reversal, but failed to get above the top of the bear leg. The buy signal bar was big […]
Intraday market update: July 23, 2015
Emini market update: July 22, 2015
Trading price action in a pullback
Posted 7:23 a.m. The bulls reversed the Emini up from below yesterday’s low, triggering an expanding triangle bottom on the 5 minute chart and closing the gap down. The rally has been weak and this increases the chances of a deep pullback and then a trading range. Although it is possible for the Emini to […]
Emini market update: July 21, 2015
Day trading tip is to look for a pullback
Posted 7:41 a.m. The Emini opened within yesterday’s tight trading range, and it was above the support magnets and below the moving average. It formed a wedge bear flag at the moving average, which was an opening reversal sell signal for a possible high of the day. The minimum targets were the 60 minute moving […]
Emini market update: July 20, 2015
Candlestick pattern is a double top
Posted 7:15 a.m. The daily chart has a 9 bar bull micro channel and is therefore overbought. It is also at the top of the 6 month trading range, which is resistance. There were no bull bodies in the first 4 bars, and the Emini was Always In Short from the 2nd bar. The odds […]
Ask Al: Trading Stops in Tight Trading Ranges
BPA trading room Q&A: April 16, 2015 I bought the low of bar 10, going for a two-point scalp. Got stopped out for a six tick loss. Was this a bad trade, since a possible double top? Audio duration: 2min 5sec — Scroll down for image Audio transcript Classic stop placement in tight trading […]
Emini weekend update: July 18, 2015:
Traders learning how to trade the markets can see a strong rally
Monthly S&P500 Emini futures candlestick chart: Overbought, but no sign of a top The monthly S&P500 Emini futures candlestick chart is still in a tight trading range. It has not touched the moving average for 37 months, and this type of price action is a form of a buy climax. The monthly S&P500 Emini futures […]
Emini market update: July 17, 2015
Intraday trading strategies at the all-time high
Posted 7:32 a.m. The Emini reversed down from its test of yesterday’s high with 3 consecutive bear bars, making the Emini Always In Short. The bars had prominent tails and lacked big bodies, increasing the chances that it will not get far. It then had a Low 2 short below the moving average and the […]
Intraday market update: July 16, 2015
Learn how to trade a test of the high
Posted 7:40 a.m. The Emini opened with a gap up to the top of yesterday’s channel. The bears wanted an expanding triangle top and early high of the day. The bulls wanted a test of the gap or of the moving average and then an opening reversal up and an early low of the day. […]
Intraday market update: July 15, 2015
Daytraders will look for trend reversal candlestick patterns
I will post around 7:48 a.m. The Emini began with a limit order market and it has been in a broad bull channel. The odds favor a swing down at some point today once this rally exhausts itself, which will probably be within the next hour, but the bears need to wait for a credible […]
Intraday market update: July 14, 2015
Candlestick pattern is a tight trading range
Posted 7:35 a.m. The Emini began with a trend from the open bull trend, but the bars were not big and they formed as a continuing of yesterday’s weak rally. Also, the rally was a bull breakout above a bull channel, which usually fails. The odds are that the Emini will transition into a trading […]
