Posted 6:54 a.m. Yesterday had a spike and channel bull trend, which is usually evolves into a trading range. Today sold off to below the bottom of the channel and reversed up sharply in a big doji bar. This is trading range price action, and it may be forecasting a lot of trading range price […]
Intraday market update: May 19, 2015
Intraday market update: May 18, 2015
How to trade futures when a breakout is weak
Posted 7:04 a.m. The Emini opened within Friday’s tight trading range and began with more tight trading range price action. Swing traders are waiting for a strong breakout with follow-through up or down. The Emini broke above Friday’s all-time high by 1 tick and immediately pulled back. This has been a limit order open and it […]
Ask Al: Fundamentals, mathematics, computers, and my job as trader
BPA trading room Q&A: May 25, 2011 Where did all that selling come from? (Bars 70-81). I know big traders and computers will short above swing highs expecting points like bar 28 to be tested, and to take profits, but it just keeps going. I don’t understand why. Did bears just hold because bar 76 […]
Emini weekend update: May 16, 2015:
How to trade futures at a new high
Monthly S&P500 Emini futures candlestick chart: Small breakout of 6 month tight trading range The monthly S&P500 Emini futures candlestick chart is breaking above a 6 month trading range. The monthly S&P500 Emini futures candlestick chart has been above its moving average for 34 months and there is an 80% chance that it will touch […]
Intraday market update: May 15, 2015
Learn how to trade a new high
Posted 7:35 a.m. Today is a Friday and the Emini will pay attention to weekly support and resistance in the final hour. The most important prices are the all-time high of 2 weeks ago, and the open of the week, which is also the February high. Although the Emini opened at a new all-time high, […]
Intraday market update: May 14, 2015
Day trading tip is to be ready for a test of last week’s lower high
Posted 7:15 a.m. The Emini gapped above yesterday’s high, and immediately sold off, becoming Always In Short. However, it reversed up from a small double bottom and is rallying for a test last week’s lower high at 2113.50. At the moment, it is Always In Long and will probably have at least one more leg […]
Intraday market update: May 13, 2015
How to trade futures online while in breakout mode
Posted 7:11 a.m. The Emini broke about above yesterday’s high and the top of the bull channel from yesterday on the first bar, but the follow-through was disappointing for the bulls. This increases the chances of a trading range day. The bears tried to reverse the Emini, but the selloff stalled at yesterday’s high after […]
Intraday market update: May 12, 2015
Candlestick pattern is an island top
Posted 7:05 a.m. The bears had a trend from the open bear trend, but the bulls created an opening reversal up from a test of the December high, after a sell climax. The selloff alternated bull and bear bars, and the initial rally had tails on the tops of the bars. This is trading range […]
Intraday market update: May 11, 2015
Day trading strategies for a possible lower high
Posted 7:12 a.m. Friday’s tight trading range has been continuing. Traders are waiting for a breakout above last week’s lower high of 2115, or below yesterday’s low. The Emini is still Always In long, but this is meaningless when it is in a tight trading range. Swing traders have to wait for a strong breakout […]
Ask Al: Doing the right thing Vs making money
BPA trading room discussion: April 2, 2015 Discussion during webinar during difficult market when Al talked about accepting the day we get and focusing on doing the right thing, and not to be concerned with making money. Audio duration: 1min 46sec — Scroll down for image Audio transcript It’s a very difficult day to […]
