{"id":114869,"date":"2021-04-14T06:20:00","date_gmt":"2021-04-14T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=114869"},"modified":"2021-04-14T14:13:14","modified_gmt":"2021-04-14T21:13:14","slug":"emini-13th-consecutive-bull-day","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/market-update\/emini-13th-consecutive-bull-day\/","title":{"rendered":"Emini 13th consecutive bull day is most in 10 years"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Emini and Forex Trading Update:<br>Wednesday April 14, 2021<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Pre-Open market analysis of daily chart<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>The Emini has now had its 13th consecutive bull day streak (13 bull trend days). <\/li><li>The last time it had a streak of this duration was in February of 2011. That streak lasted 15 days.<\/li><li>The 2011 streak reversed down 9% over the next few weeks, and the Emini had a 24% pullback in October 2011.<\/li><li>Whatever happens this time will not be the same, but the important point is that when a buy climax is extreme, the bulls soon take profits. Also, the profit taking often lasts longer, and the pullback can be deeper than what traders expect.<\/li><li>Another important point is that the current buy climax does not have to stop within the next few days. The Emini could form a brief pullback that could relieve some of the climax, and then the rally could resume for several more weeks. That is unlikely.<\/li><li>There is also a 13-bar bull micro channel (every low of the past 12 days was above the low of the prior day).<\/li><li>A lengthy micro channel means relentless, confident bulls.<\/li><li>They normally will eagerly buy below yesterday&#8217;s low once they get the chance.<\/li><li>However, because this rally is so extreme, the bulls might instead sell out of longs in a panic, and not buy below yesterday&#8217;s low.<\/li><li>Day traders are buying every intraday selloff, because each was followed by a new high. However, the streak on the daily chart is more extreme than any other in the past 10 years. There is therefore an increased risk of a sharp pullback coming at any time.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Overnight Emini Globex trading on 5-minute chart<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>The Emini is down 4 points in the Globex session.<\/li><li>Since extreme buy climax on daily chart, increased chance of big trend day up or down. The bulls might get a blow-off top, and the bears might get start of 2-week selloff.<\/li><li>Most days over past 6 days were mostly trading range days, but rallied at the end of the day. Day traders will continue to expect this until something else happens.<\/li><li>If series of strong trend bars up or down in 1st hour, then increased chance of strong trend day. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Yesterday&#8217;s Emini setups<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-High-2-Opening-Reversal-than-bull-micro-channel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-High-2-Opening-Reversal-than-bull-micro-channel-680x383.png\" alt=\"Emini High 2 Opening Reversal than bull micro channel. Emini now 13th consecutive bull day on daily chart.\" class=\"wp-image-114964\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-High-2-Opening-Reversal-than-bull-micro-channel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-High-2-Opening-Reversal-than-bull-micro-channel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-High-2-Opening-Reversal-than-bull-micro-channel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-High-2-Opening-Reversal-than-bull-micro-channel-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-High-2-Opening-Reversal-than-bull-micro-channel.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p class=\"caption\">Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell entry with a red rectangle. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a much more detailed explanation of the swing trades for each day (see Online Course\/BTC Daily Setups).<\/p>\n\n\n\n<p class=\"caption\">My goal with these charts is to present an Always In perspective. If a trader was trying to be Always In or nearly Always In a position all day, and he was not currently in the market, these entries would be logical times for him to enter.<\/p>\n\n\n\n<p class=\"caption\">If the risk is too big for your account, you should wait for trades with less risk or trade an alternative market like the Micro Emini.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EURUSD Forex market trading strategies<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">EURUSD Forex daily chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-wedge-rally-to-a-double-top-in-a-trading-range.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-wedge-rally-to-a-double-top-in-a-trading-range-680x383.png\" alt=\"\" class=\"wp-image-114981\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-wedge-rally-to-a-double-top-in-a-trading-range-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-wedge-rally-to-a-double-top-in-a-trading-range-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-wedge-rally-to-a-double-top-in-a-trading-range-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-wedge-rally-to-a-double-top-in-a-trading-range-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-wedge-rally-to-a-double-top-in-a-trading-range.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Strong rally from wedge bottom. Bulls want strong break above March 18 lower high, and then a test of the February 25 lower high.<\/li><li>Strong break above March 18 lower high, would convert 3-month bear trend into a big trading range, and not necessarily a bull trend.<\/li><li>3 legs up in tight bull channel is parabolic wedge, which usually will attract profit takers.<\/li><li>Wedge rally to double top in bear trend that began in January. Bears want reversal down, and break below March low, which is neckline of double top.<\/li><li>Probably will turn down soon for about a week, and form a higher low after the 2-month wedge bottom. Should then get 2<sup>nd<\/sup> leg up.<\/li><li>Trading range that began on March 9 will probably continue for at least another month. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Overnight EURUSD Forex trading on 5-minute chart<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>ii on daily chart 2 days ago, is a possible Final Bull Flag. It is a magnet below. Usually a breakout above an ii Final Bull Flag reverses down within a few days, but might have to reach March 18 high first.<\/li><li>Bulls want big rally today to above March 18 high, but big bull day unlikely after ii 2 days ago, and mostly trading range trading for 6 days.<\/li><li>Broke above yesterday&#8217;s high, but mostly sideways in small range overnight.<\/li><li>Day traders are scalping up and down. Most of trading for 6 days has been within trading ranges.<\/li><li>March 18 high is a magnet above, but rally on daily chart is near enough for double top reversal down to begin at any time.<\/li><li>Big bear day unlikely since tight bull channel on daily chart.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Summary of today&#8217;s S&amp;P Emini futures price action and what to expect tomorrow<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-nested-head-and-shoulders-top-and-trending-trading-range-day.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-nested-head-and-shoulders-top-and-trending-trading-range-day-680x383.png\" alt=\"Emini nested head and shoulders top and trending trading range day\" class=\"wp-image-114995\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-nested-head-and-shoulders-top-and-trending-trading-range-day-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-nested-head-and-shoulders-top-and-trending-trading-range-day-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-nested-head-and-shoulders-top-and-trending-trading-range-day-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-nested-head-and-shoulders-top-and-trending-trading-range-day-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-nested-head-and-shoulders-top-and-trending-trading-range-day.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p class=\"caption\">Here are several reasonable stop entry setups for today. I show each buy entry with a green rectangle and each sell entry with a red rectangle. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a much more detailed explanation of the swing trades for each day (see Online Course\/BTC Daily Setups).<\/p>\n\n\n\n<p class=\"caption\">My goal with these charts is to present an Always In perspective. If a trader was trying to be Always In or nearly Always In a position all day, and he was not currently in the market, these entries would be logical times for him to enter.<\/p>\n\n\n\n<p class=\"caption\">If the risk is too big for your account, you should wait for trades with less risk or trade an alternative market like the Micro Emini.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">End of day summary<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Finally, a bear day on the daily chart after 13 consecutive bull days.<\/li><li>There was a rally to a new all-time high on the open, but then a reversal down from a wedge top and a head and shoulders top. The Emini then entered a trading range, which was also a triangle. It was a continuation of the range from the last hour of yesterday.<\/li><li>It broke below a lower high major. This was also a small head and shoulders top. Since it was the right shoulder of a bigger head and shoulders top, it was a nested pattern.<\/li><li>The big bear breakout reversed up from just above yesterday&#8217;s low. At that point, today was an Almost Outside Down Day. <\/li><li>The reversal failed and today became an outside down day.<\/li><li>Today closed back above yesterday&#8217;s low.<\/li><li>If tomorrow is also a big bear day, this will likely be the start of a 5- to 10% correction.<\/li><li>If not, there will probably soon be at least a small new high. However, the Emini will probably not get much above 4,200 before correcting at least 10%. April or May will likely be the high for several months, and possibly for the year.<\/li><\/ul>\n\n\n\n<p><em>See the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">weekly update<\/a> for a discussion of the price action on the weekly chart and for what to expect going into next week.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Trading Room<\/h2>\n\n\n\n<p>Traders can see the end of the day <a href=\"http:\/\/www.brookspriceaction.com\/profile.php?mode=profil&amp;sub=profile_prefer&amp;mod=0\" target=\"_blank\" rel=\"noreferrer noopener\">bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. I talk about the detailed S&amp;P Emini futures price action real-time throughout the day in the BrooksPriceAction.com <a href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\" rel=\"noreferrer noopener\">trading room<\/a>. We offer a <a href=\"http:\/\/www.brookspriceaction.com\/portal.php?page=11\" target=\"_blank\" rel=\"noreferrer noopener\">2 day free trial<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Charts use Pacific Standard Time<\/h3>\n\n\n\n<p>When I mention time, it is USA Pacific Standard Time (the Emini day session opens at 6:30 am PST, and closes at 1:15 pm PST). You can read background information on the intraday market reports on the <a href=\"https:\/\/www.brookstradingcourse.com\/blog\/market-update\/\" target=\"_blank\" rel=\"noreferrer noopener\">Market Update<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Emini and Forex Trading Update:Wednesday April 14, 2021 Pre-Open market analysis of daily chart The Emini has now had its 13th consecutive bull day streak (13 bull trend days). The last time it had a streak of this duration was in February of 2011. That streak lasted 15 days. The 2011 streak reversed down 9% [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":114981,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[153],"tags":[281,60],"class_list":{"0":"post-114869","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"tag-eurusd-forex","9":"tag-sp-emini","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-wedge-rally-to-a-double-top-in-a-trading-range.png","author_info":{"display_name":"Al","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/albrooks\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/114869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=114869"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/114869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/114981"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=114869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=114869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=114869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}