{"id":191021,"date":"2023-09-28T06:10:00","date_gmt":"2023-09-28T13:10:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=191021"},"modified":"2023-09-28T21:23:47","modified_gmt":"2023-09-29T04:23:47","slug":"emini-buyers-at-4300-round-number","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-buyers-at-4300-round-number\/","title":{"rendered":"Emini Buyers at 4,300 Round Number"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Thursday September 28, 2023<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P Emini pre-open market analysis<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Emini daily chart<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Emini found buyers at the 4,300-round number, and the 200\u2013Day Moving Average.<\/li>\n\n\n\n<li>The Emini is approaching the end of the month and third quarter. The bulls will try to create as much of a tail as possible on the monthly chart to disappoint the bears. Traders should be prepared for a rally lasting a couple of days.<\/li>\n\n\n\n<li>The bears have done a good job on the daily chart. However, they are likely exhausted and will take partial profits, expecting a bounce.<\/li>\n\n\n\n<li>The market will probably test the August 18<sup>th<\/sup> low over the next week or two. It was reasonable for bulls to buy the August 18<sup>th<\/sup> low and scale in lower. Those bulls got trapped during the selloff and will probably look to sell out of longs near their first entry back at the August 18<sup>th<\/sup> low.<\/li>\n\n\n\n<li>The bears want to prevent the August 18<sup>th<\/sup> breakout point low from getting reached, which would keep the gap open.<\/li>\n\n\n\n<li>The bull sees two large legs on the daily chart, August 28<sup>th<\/sup> and Yesterday\u2019s Low. They hope the market will form a 2<sup>nd<\/sup> leg trap and rally far above the August 18<sup>th<\/sup> low.<\/li>\n\n\n\n<li>Overall, traders should expect the bears to become disappointed and for the market to rally over the next few weeks.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Emini 5-minute chart and what to expect today<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The overnight Globex market has gone sideways on the 60 chart for several hours.<\/li>\n\n\n\n<li>Yesterday\u2019s low will act as resistance today, and the market may not fall below it today.<\/li>\n\n\n\n<li>The bulls will try their best today to get a bull bar closing above yesterday\u2019s high.<\/li>\n\n\n\n<li>There is a 20% chance of a bear trend from the open and an 80% chance of a trading range open. This means that most traders should wait 6-12 bars before placing a trade.<\/li>\n\n\n\n<li>Traders can also consider waiting for a double top\/bottom or a wedge top\/bottom to form and try to catch the opening swing that often begins before the end of the second hour.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Emini intraday market update<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Emini rallied above yesterday\u2019s high, triggering the buy on the daily chart.<\/li>\n\n\n\n<li>The bulls are hopeful that today will be another strong bull trend on the daily chart.<\/li>\n\n\n\n<li>While the bulls have done an excellent job with the rally above yesterday\u2019s high, the bears have halted the buying pressure.<\/li>\n\n\n\n<li>Bar 40 -41 are strong enough to flip the market to Always In Short and increase the probability of a second leg down and a test of yesterday\u2019s high.<\/li>\n<\/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\/2023\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-Bear-Channel-Then-Reversal-Up.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-Bear-Channel-Then-Reversal-Up-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Low 2 Top Bear Channel Then Reversal Up\" class=\"wp-image-191162\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-Bear-Channel-Then-Reversal-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-Bear-Channel-Then-Reversal-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-Bear-Channel-Then-Reversal-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-Bear-Channel-Then-Reversal-Up.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Al created the SP500 Emini charts.<\/em><\/p>\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 near 4-year library of more detailed explanations of swing trade setups (see Online Course\/BTC Daily Setups). Encyclopedia members get current daily charts added to Encyclopedia.<\/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. These therefore are swing entries.<\/p>\n\n\n\n<p class=\"caption\">It is important to understand that most swing setups do not lead to swing trades. As soon as traders are disappointed, many exit. Those who exit prefer to get out with a small profit (scalp), but often have to exit with a small loss.<\/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\/2023\/09\/EURUSD-Daily-2nd-Leg-Down-Likely-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-2nd-Leg-Down-Likely-680x383.jpg\" alt=\"\" class=\"wp-image-191157\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-2nd-Leg-Down-Likely-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-2nd-Leg-Down-Likely-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-2nd-Leg-Down-Likely-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-2nd-Leg-Down-Likely-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-2nd-Leg-Down-Likely-2048x1152.jpg 2048w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD is getting a bear breakout below a bear channel. The recent downside breakout is strong enough to get a second leg down.<\/li>\n\n\n\n<li>The problem with the recent bear breakout is that it is late in a bear trend that began in&nbsp; July. This increases the risk of the downside being a climactic end of the bear trend on the daily chart.<\/li>\n\n\n\n<li>It is important to note that the tight bear channel on the daily chart is a strong breakout on the weekly chart that will likely get a second leg down.<\/li>\n\n\n\n<li>Even if the daily chart converts into a trading range and tests the top of the September 20<sup>th<\/sup> sell climax, the odds are that the market will not get above the July high before the bears get a second leg down on the weekly chart.<\/li>\n\n\n\n<li>While the downside breakout over the past few days is strong, the market has not touched the moving average in several bars; this increases the odds that bears will be less willing to sell this far from the moving average.<\/li>\n\n\n\n<li>Overall, traders should expect a second leg down after the recent downside breakout below the May 31<sup>st<\/sup> low. However, traders must realize that the selloff will likely lead to exhaustion, and the market will transition into a trading range. It is reasonable for bears to exit above any bull bar closing above its midpoint due to the risk of exhaustion.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Summary of today&#8217;s S&amp;P Emini price action<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Double-Bottom-Then-Measured-Moves-Up.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Double-Bottom-Then-Measured-Moves-Up-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Double Bottom Then Measured Moves Up\" class=\"wp-image-191206\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Double-Bottom-Then-Measured-Moves-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Double-Bottom-Then-Measured-Moves-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Double-Bottom-Then-Measured-Moves-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Double-Bottom-Then-Measured-Moves-Up.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Al created the SP500 Emini charts.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">End of day video review<\/h3>\n\n\n\n<div class=\"wp-block-stackable-video-popup stk-block-video-popup stk-block stk-9cc12b7\" data-video=\"https:\/\/www.youtube.com\/watch?v=OTCA9o1bVgE\" data-block-id=\"9cc12b7\"><button class=\"stk-block-video-popup__overlay stk-row stk-inner-blocks stk-block-content stk-hover-parent\" aria-label=\"Play Video\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-center stk-block stk-d9e6b5c\" data-block-id=\"d9e6b5c\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-d9e6b5c\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-d-9-e-6-b-5-c-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-d-9-e-6-b-5-c-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"play\" class=\"svg-inline--fa fa-play fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M424.4 214.7L72.4 6.6C43.8-10.3 0 6.1 0 47.9V464c0 37.5 40.7 60.1 72.4 41.3l352-208c31.4-18.5 31.5-64.1 0-82.6z\"><\/path><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-image stk-block-image stk-block stk-d084dce\" data-block-id=\"d084dce\"><figure class=\"stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-179791\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/Brad-Wolff-Emini-EOD-Review-680px.png\" width=\"680\" height=\"382\" alt=\"Brad Wolff Emini EOD Review\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/Brad-Wolff-Emini-EOD-Review-680px.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/Brad-Wolff-Emini-EOD-Review-680px-300x169.png 300w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/figure><\/div>\n<\/button><\/div>\n\n\n\n<p>Here is YouTube link if video popup blocked:<\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=OTCA9o1bVgE\" target=\"_blank\" rel=\"noreferrer noopener\">Emini End of Day Review &#8211; Thursday September 28, 2023 &#8211; Brad Wolff<\/a><\/p>\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 has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Trading Room<\/h2>\n\n\n\n<p>Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com <a href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\" rel=\"noreferrer noopener\">trading room<\/a> days. 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 has-css-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Charts use Pacific Time<\/h3>\n\n\n\n<p>When times are mentioned, it is USA Pacific Time. The Emini day session charts begin at 6:30 am PT and end at 1:15 pm PT which is 15 minutes after the NYSE closes. You can read background information on the 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 has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Trading Update: Thursday September 28, 2023 S&amp;P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Emini intraday market update Yesterday&#8217;s Emini setups Al created the SP500 Emini charts. Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":191162,"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":[153,136,241],"tags":[1348,281,60],"class_list":{"0":"post-191021","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"category-video","10":"tag-big-round-number","11":"tag-eurusd-forex","12":"tag-sp-emini","13":"entry","14":"override","15":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-Bear-Channel-Then-Reversal-Up.jpg","author_info":{"display_name":"Brad","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/brad-wolff\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/191021","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\/5460"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=191021"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/191021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/191162"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=191021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=191021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=191021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}