{"id":192180,"date":"2023-10-16T06:20:00","date_gmt":"2023-10-16T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=192180"},"modified":"2023-10-16T21:55:50","modified_gmt":"2023-10-17T04:55:50","slug":"emini-bulls-want-a-high-1-buy-signal","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-bulls-want-a-high-1-buy-signal\/","title":{"rendered":"Emini Bulls Want High 1 Buy Signal"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Monday October 16, 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 pulled back over the past two trading days after last week&#8217;s strong rally.<\/li>\n\n\n\n<li>The bulls are hopeful that today will form a High 1 Buy Signal <\/li>\n\n\n\n<li>The odds favor a second leg up after the rally that began on October 6<sup>th<\/sup>. However, the pullback last Thursday and Friday is a warning that the market is in a trading range.<\/li>\n\n\n\n<li>The bears who sold the September 29<sup>th<\/sup> high and scaled in higher made money. Which is a sign that the market is in a trading range.<\/li>\n\n\n\n<li>Overall, traders should expect a second leg up. <\/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>Emini is up 20 points in the overnight Globex session.<\/li>\n\n\n\n<li>The overnight Globex market formed a second leg up after a pullback during the overnight hours.<\/li>\n\n\n\n<li>There is an 80% chance that today will become a trading range open and only a 20% chance of a trend from the open.<\/li>\n\n\n\n<li>Most traders should wait 6-12 bars before placing a trade unless they are comfortable with limit orders and making quick decisions.<\/li>\n\n\n\n<li>Most traders should try and catch the opening swing that often begins before the end of the second hour.<\/li>\n\n\n\n<li>It is common for the market to form the opening swing after the formation of a double top\/bottom or a wedge top\/bottom.<\/li>\n\n\n\n<li>Traders should pay attention to yesterday\u2019s high and the open of the day.<\/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 gapped up and formed a triangle before breaking out to the upside.<\/li>\n\n\n\n<li>At bar 21, the market formed a parabolic wedge top and formed a two-legged pullback down to the moving average (bar 27).<\/li>\n\n\n\n<li>The channel down is tight enough that the bears want a second leg down.<\/li>\n\n\n\n<li>The bulls see the rally up to the high of the day as being strong enough for a second leg up.<\/li>\n\n\n\n<li>As of bar 42, the market is in breakout mode; on bar 42, it failed to break out to the downside. It is reasonable to expect a test up to the high of the day. &nbsp;<\/li>\n\n\n\n<li>Even if the bulls get a rally to the high of the day, the odds will favor a trading range and a successful breakout to the upside.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Friday&#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\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-the-Open-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-the-Open-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From the Open Then Trading Range\" class=\"wp-image-192249\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-the-Open-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-the-Open-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-the-Open-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-the-Open-Then-Trading-Range.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 reasonable stop entry setups from Friday. 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\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Sideways-Likely-680x383.jpg\" alt=\"\" class=\"wp-image-192423\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Sideways-Likely-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Sideways-Likely-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Sideways-Likely-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Sideways-Likely-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/EURUSD-Daily-Sideways-Likely-2048x1152.jpg 2048w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD sold off last Thursday and Friday, testing near the October lows.<\/li>\n\n\n\n<li>While the bears are hopeful that last Thursday\u2019s bear breakout will lead to lower prices, more likely, the selloff is part of a trading range.<\/li>\n\n\n\n<li>Today, the bulls are trying to disappoint the bears and will likely succeed.<\/li>\n\n\n\n<li>Even if today is a bull bar closing on its high, there will probably be sellers above for at least a brief attempt at a second leg down.<\/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\/10\/SP500-Emini-5-Min-Chart-Bull-Trend-From-the-Open-and-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"382\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bull-Trend-From-the-Open-and-Then-Trading-Range-680x382.jpg\" alt=\"SP500 Emini 5-Min Chart Bull Trend From the Open and Then Trading Range\" class=\"wp-image-192457\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bull-Trend-From-the-Open-and-Then-Trading-Range-680x382.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bull-Trend-From-the-Open-and-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bull-Trend-From-the-Open-and-Then-Trading-Range-768x431.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bull-Trend-From-the-Open-and-Then-Trading-Range.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-5f9fb40\" data-video=\"https:\/\/www.youtube.com\/watch?v=SWmQ_Ke_ayY\" data-block-id=\"5f9fb40\"><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-3e898c2\" data-block-id=\"3e898c2\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-3e898c2\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-3-e-898-c-2-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-3-e-898-c-2-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-4d690e7\" data-block-id=\"4d690e7\"><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><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: Monday October 16, 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 Friday&#8217;s Emini setups Al created the SP500 Emini charts. Here are reasonable stop entry setups from Friday. I show each buy entry with a green rectangle and each sell [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":192249,"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],"tags":[281,329,60],"class_list":{"0":"post-192180","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-eurusd-forex","10":"tag-high-1-buy-signal","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-the-Open-Then-Trading-Range.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\/192180","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=192180"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/192180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/192249"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=192180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=192180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=192180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}