{"id":193349,"date":"2023-10-31T06:10:00","date_gmt":"2023-10-31T13:10:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=193349"},"modified":"2023-10-31T22:44:44","modified_gmt":"2023-11-01T05:44:44","slug":"emini-stalling-below-october-3rd-low","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-stalling-below-october-3rd-low\/","title":{"rendered":"Emini Stalling below October 3rd Low"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday October 31, 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 is stalling and will probably test the October 3<sup>rd<\/sup> breakout point low in the next few days.<\/li>\n\n\n\n<li>The bulls have been making money below bars, so buyers are probably below.<\/li>\n\n\n\n<li>The market is near several support layers, such as the midpoint (4,172) of the rally that began in October 2022.<\/li>\n\n\n\n<li>Traders will pay close attention to how the market will react to the October 3<sup>rd<\/sup> low. The Bulls are hopeful that they will be able to get a strong bull close above the October 3<sup>rd<\/sup> low. This would increase the odds of higher prices and a test back to 4,300.<\/li>\n\n\n\n<li>The bulls want to get above the October high, the most recent major swing high. &nbsp;This would end the argument of a bear trend since the market would no longer be forming trending lower highs.<\/li>\n\n\n\n<li>The bears want the opposite of the bulls. The bears will try their best to keep the October 3<sup>rd<\/sup> breakout point low open, leading to a measured move down.<\/li>\n\n\n\n<li>The bears need to prevent the bulls from getting a strong reversal. This means the bears need to form something like a Low 2 short, leading to a downside breakout.<\/li>\n\n\n\n<li>Overall, the Emini will probably rally above the October 3<sup>rd<\/sup> breakout point low over the next couple of days, which would disappoint the bears.<\/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 Emini is continuing the rally that began during yesterday\u2019s &nbsp;Globex session.<\/li>\n\n\n\n<li>The bulls will try and get follow-through buying, increasing the odds of a test of the October 3<sup>rd<\/sup> low.<\/li>\n\n\n\n<li>Traders should expect a lot of trading range price action on the open. As I often say, there is an 80% chance of a trading range open and only a 20% chance of a trend from the open.<\/li>\n\n\n\n<li>This means that traders should expect a trading range open and consider not trading the first 6-12 bars.<\/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, after the formation of a double top\/bottom or a wedge top\/bottom.<\/li>\n\n\n\n<li>Traders should pay attention to the open of the day, as well as yesterday\u2019s high. Both will likely be essential magnets today.<\/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\/10\/SP500-Emini-5-Min-Chart-Buy-Climax-50pc-Pullback-Then-Wedge-Bottom.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-Buy-Climax-50pc-Pullback-Then-Wedge-Bottom-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Buy Climax 50pc Pullback Then Wedge Bottom\" class=\"wp-image-193426\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Buy-Climax-50pc-Pullback-Then-Wedge-Bottom-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Buy-Climax-50pc-Pullback-Then-Wedge-Bottom-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Buy-Climax-50pc-Pullback-Then-Wedge-Bottom-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Buy-Climax-50pc-Pullback-Then-Wedge-Bottom.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 yesterday. I show each buy entry bar with a green arrow and each sell entry bar with a red arrow. 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<ul class=\"wp-block-list\">\n<li>The EURUSD is getting a bull reversal, testing the October 23<sup>rd<\/sup> bull breakout.<\/li>\n\n\n\n<li>The bulls hope to get an upside breakout and measured move up of the October bear flag.<\/li>\n\n\n\n<li>Traders will pay close attention to today\u2019s follow-through. The more the bar closes near its high, the greater the probability of an upside breakout. The bulls still need to see the upside breakout for the probability to increase.<\/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-Sell-Climax-Then-Spike-and-Channel-Bull-Trend.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-Sell-Climax-Then-Spike-and-Channel-Bull-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Sell Climax Then Spike and Channel Bull Trend\" class=\"wp-image-193418\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Sell-Climax-Then-Spike-and-Channel-Bull-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Sell-Climax-Then-Spike-and-Channel-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Sell-Climax-Then-Spike-and-Channel-Bull-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Sell-Climax-Then-Spike-and-Channel-Bull-Trend.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<p>End Of Day Review will be presented in the Trading Room today. See below for details on how to sign up.<\/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: Tuesday October 31, 2023 S&amp;P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Yesterday&#8217;s Emini setups Al created the SP500 Emini charts. Here are reasonable stop entry setups from yesterday. I show each buy entry bar with a green arrow and each sell entry bar with [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":193426,"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":[281,60],"class_list":{"0":"post-193349","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-sp-emini","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/10\/SP500-Emini-5-Min-Chart-Buy-Climax-50pc-Pullback-Then-Wedge-Bottom.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\/193349","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=193349"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/193349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/193426"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=193349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=193349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=193349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}