Posted 7:00 a.m. Today opened with a big gap down and the bulls bought it aggressively, creating a trend from the open bull trend and the 4th big reversal since yesterday’s gap down. Even though the swings up and down have been very big, this is trading range price action. There will probably be a […]
Intraday market update: February 9, 2016
Intraday market update: February 8, 2016
Learn how to trade a gap down in a trading range
Posted 7:00 a.m. The Emini opened with a big gap down, but then then reversed up and down with big bars. This increases the chances that the Emini will enter a trading range for a couple of hours until it gets closer to the moving average. At that point, bulls will see a bottom, like […]
Ask Al: Advice on 2nd leg traps
BPA trading room Q&A: November 18, 2015 Do you have any advice on how to look for second leg traps? For example, bar 20 to 22 could be a second leg trap. Video duration: 3min 4sec You can also view this video on Al’s YouTube Channel if needed. Video transcript — Any advice on 2nd […]
Emini weekend update: February 6, 2016:
Trade the markets for a living when more trading range price action is likely
Monthly S&P500 Emini futures candlestick chart: Double top after buy climax The monthly S&P500 Emini futures candlestick chart is in breakout mode with both a double top and a double bottom after a buy climax. The monthly S&P500 Emini futures candlestick chart has a lot of price action left to the month and it is […]
Intraday market update: February 5, 2016
Learn how to trade when the price action forms a triangle
Posted 7:03 a.m. The Emini reversed up from below yesterday’s low, but the bulls have not yet done enough to make the market clearly Always In Long. The selloff and the rally so far lack consecutive strong trend bars. Yesterday was a triangle. Today’s trading range price action is a continuation of yesterday’s. Until there […]
Intraday market update: February 4, 2016
Learn how to trade confusing price action
I will post around 6:56 a.m. The day opened within yesterday’s trading range and entered breakout mode. The bulls want either a small buy signal bar near the bottom or a strong bull breakout, and the bears want either a small sell signal bar near the top or a strong bear breakout. Until then, scalpers […]
Intraday market update: February 3, 2016
Learn how to trade a 50% pullback
Posted 7:19 a.m. The Emini sold off strongly on the open from a gap up to the 60 minute moving average and a test of yesterday’s high to far below yesterday’s low. This selling has been extreme and therefore climactic. While it could continue all day, it more likely it will run out of sellers […]
Intraday market update: February 2, 2016
Day trading tip is that the selloff will be bought
Posted 6:45 a.m. The Emini opened with a big gap down and traded below yesterday’s low, the 60 minute moving average, and the breakout point at the top of the bear flag on the daily chart (the January 27 high). However, the odds are that there will be buyers below yesterday’s low. As bearish as […]
Intraday market update: February 1, 2016
Learn how to trade a buy climax near resistance
Posted 7:10 a.m. The Emini gapped down to the 15 minute moving average and entered a tight trading range. This is a 20 gap bar buy setup on the 15 minute chart after Friday’s strong bull trend, and that will tend to limit the downside. The big gap down will tend to limit the upside. […]
Ask Al: Why trade the ES S&P500 Emini?
BPA trading room Q&A: November 10, 2015 Al, you sometimes mention that you keep your eye on other products during the day. What is it about the behavior of the Emini that makes it your primary focus for short-term trading, and does this change when the Emini volatility becomes extremely low? Audio duration: 4min 28secs […]
