Posted 7:09 a.m. The Emini futures contract gapped up, but closed the gap on the 2nd bar. However, the tails below bars and the early bull bar made it more likely that this was a bear leg in what would become a trading range. The bulls created an opening reversal up from support (the moving […]
Intraday market update: April 27, 2015
Ask Al: Bull scalping in a bear channel
BPA trading room Q&A: April 21, 2015 I bought above bar 35, going for two times risk, stop below bar 28. Ended up getting out during bar 52. How would you have managed this trade?Audio duration: 1min 45sec — Scroll down for image Audio transcript Whenever I see a lot of scalping going on, […]
Emini weekend update: April 25, 2015:
Futures trading strategy at a new high
Monthly S&P500 Emini futures candle chart: Futures trading strategy at a new high The monthly Emini futures candle chart had a bull breakout of the ioi pattern. There are 4 days left to the month, and the bulls want this month’s candle to be big so that traders will see the breakout as strong. The […]
Intraday market update, April 24, 2015:
Learn how to trade the market at a new high
Posted 6:54 a.m. The S&P Emini futures contract was likely to have a 2nd leg down after the strong selloff into yesterday’s close, and today’s open satisfied that minimum goal. Although a strong bear trend day is possible, yesterday had a 3 hour trading range after a strong rally, and this selloff is more likely […]
Intraday market update, April 23, 2015:
Day trading tip is to expect a trading range
Posted 6:53 a.m. The Emini tested the 60 minute moving average and the bottom of the channel on the open, but the selloff from yesterday’s high was only about 10 bars and that is probably not enough to correct a rally that lasted 60 bars. Yesterday was an outside day at the top of the […]
Ask Al: Beginners starting out—paralyzed
BPA trading room Q&A: January 30, 2015 I’m a beginner. I often find myself paralyzed and afraid to take a trade. Even if I’m sitting here and ready for the trade. I was waiting to get short on bar 20, but with bar 19 did not want to get in below a bull bar. Any […]
Intraday market update, April 22, 2015:
Daytraders expect more trading range price action
Posted 6:55 a.m. The S&P Emini futures contract sold off on the open and created a trend from the open bear trend. It fell below yesterday’s higher low, which is a sell signal. However, the price action for two days has been one of failed breakouts, so the down side might be limited to a […]
Intraday market update, April 21, 2015:
Futures trading strategy is to be ready for a trend
Posted 6:52 a.m. The Emini futures contract opened with a gap up, but it immediately sold off to the moving average. The bulls are hoping for an opening reversal up and the low of the day, but the selling was strong enough up so that the first rally will probably result in a trading range […]
Intraday market update, April 20, 2015: Online day traders will look for a trading range
Posted 6:54 a.m. The Emini gapped up and closed last weeks gap down from last week’s 2 day island top. It is a trend from the open bull trend and the first reversal down will probably be bought. However, this rally is testing the breakout point on the 60 minute chart for last week’s selloff, […]
Ask Al: Trading for fun will get you fired!
BPA trading room discussion: April 14, 2015 Discipline—While discussing trading opportunities in a tight trading range, Al talked about how trading just for the fun of it will get you fired — if you worked for Goldman Sachs! If you are your own boss, you will simply exhaust your account balance.Audio duration: 2min 11sec — […]
