Posted 6:53 a.m. The Emini began with limit order trading around yesterday’s close and in the middle of yesterday’s trading range. The bulls were hoping that yesterday’s late rally was the start of a 2nd leg up. The bears wanted another lower high in the bear channel that began early yesterday, and they want to […]
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Intraday market update: May 23, 2016
Emini weekend update: May 21, 2016:
Learn how to trade failed candlestick patterns
Monthly S&P500 Emini futures candlestick chart: Weak sell signal The monthly S&P500 Emini futures candlestick chart had a weak sell signal last month after a very strong rally. So far, the sell entry bar is also weak. Regarding the monthly S&P500 Emini futures candlestick chart, I have been saying since the end of April that […]
Intraday market update: May 20, 2016
Learn how to trade a buy candlestick pattern
Posted 6:45 a.m. The Emini gapped up, but the gap was small, the tails were prominent, and the 1st bodies were not big. The gap still might become a measuring gap. However, this price action increases the chances for a trading range open where the Emini forms a double top and a double bottom over […]
Intraday market update: May 19, 2016
Learn how to trade monthly a sell signal
Posted 7:02 a.m. The Emini had an expanding triangle bottom and then a higher low major trend reversal at the end of yesterday. The bulls tried for an early reversal up from another higher low today, but the rally failed at the moving average. It then had an Opening Reversal down for a possible high […]
Intraday market update: May 18, 2016
Price action for day traders at support
Posted 7:10 a.m. The Emini began with a Small Bear Breakout of a Small Bear Breakout, which is a type of wedge bottom. The wedge began 11 a.m. yesterday. This is a breakout mode setup that can lead to a measured move up or down. The rally on the open had a couple of big […]
Intraday market update: May 17, 2016
Online day traders see topping and bottoming candlestick patterns
Posted 6:54 a.m. The Emini sold off on the open to below the 60 minute moving average down to a 50% pullback of yesterday’s rally. The channel down had about 15 bars and it was tight. This means that the 1st reversal up will probably be minor. A minor reversal is a leg in a […]
Intraday market update: May 16, 2016
Sell climax trading
Posted 6:54 a.m. Friday was a sell climax. Today had a 75% chance of at least a couple of hours of sideways to up trading beginning by the end of the 2nd hour. It might have begun at the end of Friday. The Emini began with a series of bull trend bars that rallied above […]
Emini weekend update: May 14, 2016:
Trade a trend reversal candlestick pattern
Monthly S&P500 Emini futures candlestick chart: Might trigger sell signal The monthly S&P500 Emini futures candlestick chart is moving down and it might fall below last month’s low. This would trigger a sell signal for a failed breakout above a 2 year trading range. The monthly S&P500 Emini futures candlestick chart still has not triggered […]
Intraday market update: May 13, 2016
Learn how to trade a triangle candlestick pattern
Posted 7:02 a.m. The Emini rallied on the open after a breakout test of yesterday’s 10:05 a.m. breakout point. The Emini will probably get a 2nd leg up today and reach a Leg 1 = Leg 2 target, but the bear channel at the end of yesterday was tight. This often means that the bulls […]
Intraday market update: May 12, 2016
Learn to trade opposite candlestick patterns
Posted 6:52 a.m. After 2 days of extreme trending and bad limit order trading, the odds are that today will have a lot of limit order trading. Traders are uncertain and they will be quick to take profits. In the 1st 4 bars, both limit order bulls and bears made money. While it is likely […]
