Posted around 7:33 a.m. The Emini opened above the bull channel of the past 2 days, which is a type of buy climax. There is a 75% chance that a bull breakout above a bull channel will fail within about 5 bars and then go sideways to down to the bottom of the channel. The […]
Intraday market update: June 17, 2015
Intraday market update: June 16, 2015
Neutral candlestick pattern on the daily chart
Posted 7:21 a.m. The bulls got a strong breakout above yesterday’s tight trading range, but the rally lasted one bar and stalled at the 60 minute moving average, Friday’s low (the top of the gap on the daily chart), and at the leg 1 = leg 2 target based on yesterday’s early strong bull breakout. […]
Ask Al: How did you develop your trading edge?
BPA trading room Q&A: May 14, 2015 How did you develop your trading edge? (Plus follow up related comments by Al on topic a week later.) Audio duration: 2min 49sec — Scroll down for images Audio transcript Al’s most important trading edge That is a question that I could talk about forever, and the […]
Emini weekend update: June 13, 2015:
Learn how to trade the markets in breakout mode
Monthly S&P500 Emini futures candlestick chart: Strong bull trend, but buy climax The monthly S&P500 Emini futures candlestick chart is in a small pullback bull trend with no sign of a top, but since this is 36 months without touching the moving average and that is historically unusual, a reversal down to below the moving […]
Intraday market update: June 11, 2015
Learn how to trade a strong breakout
Posted 7:07 a.m. The bulls tried for bull trend resumption on the open, but the rally was weak. Also, yesterday’s 5 hour tight trading range after a buy climax is a possible final flag. It is an area where bulls and bears agreed that the price was fair. The bulls need to break strongly above […]
Intraday market update: June 10, 2015
Learn how to trade a weak reversal
Posted 7:08 a.m. The Emini gapped up and had a trend from the open bull trend. The rally lacked big bull trend bars, and this increases the chances of an early trading range. Also, it reached last week’s trading range, and it might again go sideways here. Finally, the first 6 bars created a parabolic […]
Intraday market update: June 9, 2015
Learn how to trade a spike and channel bottom
Posted 7:25 a.m. The bears got follow-through selling, but the bulls are trying to create a major trend reversal. After the big sell climax on the 2nd and 3rd bars of the day occurring 100 bars into a bear trend, and after yesterday’s gap bars, the odds favor an early low of the day and […]
Intraday market update: June 8, 2015
Learn to trade futures in breakout mode
Posted 7:11 a.m. The Emini opened today with a continuation of yesterday’s weak bear channel. It is testing yesterday’s low, which was last week’s low. It should reach the weekly moving average today or tomorrow, and possibly within the first couple of hours. Because this selloff lacks consecutive big bear bars and is testing support, […]
Ask Al: Automated trading and emotions
BPA trading room Q&A: May 6, 2015 I’m sure that you looked at automated trading in your long experience. What are your thoughts on automated trading for small volume retail traders, especially for those who cannot usually control emotions?Audio duration: 3min 55sec Audio transcript Sell! Sell Now! No! No! Buy! Buy! Sell! I think traders […]
Emini weekend update: June 6, 2015:
Price action trading at a wedge top
Monthly S&P500 Emini futures candlestick chart: Strong bull trend, but buy climax The monthly S&P500 Emini futures candlestick chart has been above its moving average for 36 months, and this is extremely unusual. There is about an 80% chance of a pullback this year to the moving average, which is about 10% below the high. […]
