Posted 7:05 a.m. The Emini gapped down, but entered a tight trading range. Both bull and bear limit order scalpers made money, increasing the chances for a lot of trading range price action today. Neither has much conviction, but both are making money scalping. The reversal up from below yesterday’s low was strong enough to […]
Intraday market update: May 4, 2016
Intraday market update: May 3, 2016
Intraday trading strategy for trading range price action
Posted 7:02 a.m. The Emini broke strongly below yesterday’s low, but the follow-through was weak, the 1st 3 bars were dojis, and the breakout bar was exceptionally big, which means a possible exhaustion gap. While the Emini is Always In Short, this is climactic behavior in an oversold market. This is unlikely to result in […]
Intraday market update: May 2, 2016
Online day traders exit failed breakouts quickly
Posted 7:02 a.m. The Emini tested down to just above the moving average, and then reversed up to form an opening reversal. When an opening reversal comes just above the moving average, it is more likely to not lead to a rally. Also, yesterday is a buy signal on the daily chart, but it is […]
Emini weekend update: April 30, 2016:
Learn how to trade a failed buy climax candlestick pattern
Monthly S&P500 Emini futures candlestick chart: Failed breakout above trading range The bar on the monthly S&P500 Emini futures candlestick chart closed today. It was a reversal bar, but the bar had a bull body and it followed a big bull trend bar. The bar on the monthly S&P500 Emini futures candlestick chart closed today, […]
Intraday market update: April 29, 2016
Sell climax candlestick pattern so trading range price action
Posted 7:00 a.m. The bears got follow-through selling on the open. The chance of a big bear trend day is 25%. There is still a 75% chance of at least a 2 hour trading range that starts before the end of the 2nd hour. When there is a Sell The Close open after a big […]
Intraday market update: April 28, 2016
Day traders see candlestick pattern as final flag top
Posted 7:01 a.m. The Emini reversed up sharply after a dip below the bottom of the FOMC bull reversal, and became Always In Long. The bears tried for an Opening Reversal down from the moving average and a 50% pullback, but the rally was strong enough to make this a low probability bet. It is […]
Intraday market update: April 27, 2016
Candlestick patterns and price action after an FOMC report
Posted 7:01 a.m. The Emini reversed up from a test of yesterday’s low, but lacked follow-through. Yesterday was a tight trading range. The Emini has not yet done enough to convince traders that it is about to have a swing up or down. It might reach a measured move up or down, based on the […]
Intraday market update: April 26, 2016
Learn how to trade TR price action before FOMC
Posted 7:10 a.m. The Emini gapped above yesterday’s high triggering a High 1 bull flag buy signal on the daily chart. Limit order bears could not make any money in the 1st 30 minutes. Even though the Emini has had a series of buy climaxes since the last hour of yesterday and it testing the […]
Intraday market update: April 25, 2016
Day traders see a weak bull flag candlestick pattern
Posted 7:09 a.m. The Emini tested yesterday’s low, but stalled in yesterday’s lower trading range. While the Emini is Always In Short, the initial sell signal bar at the high of the day had a bull body and it was not quite at the moving average. This happens more often in a trading range than […]
Emini weekend update: April 23, 2016:
Candlestick pattern is a Final Bull Flag
Monthly S&P500 Emini futures candlestick chart: Small breakout to new all-time high The monthly S&P500 Emini futures candlestick chart broke to a new all-time high this week, but pulled back. There is still a week left to the month. The month could become a big bull trend bar or a bear reversal bar. It probably […]
