{"id":196214,"date":"2023-12-19T06:22:56","date_gmt":"2023-12-19T14:22:56","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=196214"},"modified":"2023-12-19T20:50:30","modified_gmt":"2023-12-20T04:50:30","slug":"emini-likely-to-test-inside-bar-high","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-likely-to-test-inside-bar-high\/","title":{"rendered":"Emini Likely to Test Friday&#8217;s Inside Bar High"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday December 19, 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>Yesterday, the Emini rallied above last Friday\u2019s inside bar. Inside bars are triangles on smaller time frames, and can often act as final flags late in a trend.<\/li>\n\n\n\n<li>Trades should expect a retest of last Friday\u2019s inside bar high (4,779.25) within the next day or two.<\/li>\n\n\n\n<li>The market has been away from the moving average for several bars. Every day that goes by without touching the moving average on the daily chart increases the odds of a reversal back to it.<\/li>\n\n\n\n<li>Eventually, buyers will not be willing to buy this far away from the moving average. This will force the market to go lower to establish a new price where traders will buy.<\/li>\n\n\n\n<li>The odds are against a strong bear trend. However, the odds favor a trading range and sideways to down trading.<\/li>\n\n\n\n<li>Over the next couple of days, traders should expect the bulls to become disappointed and for the market to test down into the December 13th bull breakout range.<\/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 5 points in the overnight Globex session.<\/li>\n\n\n\n<li>Today will probably have a lot of trading range price action and disappoint the bulls.<\/li>\n\n\n\n<li>Traders should pay attention to the day&#8217;s open and last Friday\u2019s high (4,779.25).<\/li>\n\n\n\n<li>As always, most traders should consider not trading during the first 6 \u2013 12 bars, unless they are comfortable trading with wide stops and making quick decisions. It is common to have several failed breakout attempts on the open.<\/li>\n\n\n\n<li>Most traders should try to catch the opening swing that will often begin before the end of the second hour. It often will start after the formation of a double top\/bottom or a wedge top\/bottom.<\/li>\n\n\n\n<li>Lastly, traders should be patient and expect a trading range open. There is only a 20% chance of a trend from the open.<\/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\/12\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Small Pullback Bull Trend From The Open\" class=\"wp-image-196244\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open.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 rallied up to the December 14<sup>th<\/sup> high close.<\/li>\n\n\n\n<li>Bulls want a second leg up and a breakout above the December high.<\/li>\n\n\n\n<li>The bears want the market to form a double top, and test down to the December low.<\/li>\n\n\n\n<li>Because of the past two days closing with bull bars, the odds are the downside is limited.<\/li>\n\n\n\n<li>There are trapped bears who sold above the December 18<sup>th<\/sup> high. Those bears will probably use and pullback to exit losing shorts.<\/li>\n\n\n\n<li>Overall, the market will probably continue to go sideways over the next couple of days.<\/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\/12\/SP500-Emini-5-Min-Chart-Bull-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\/12\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bull Trend From The Open Then Trading Range\" class=\"wp-image-196280\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Bull-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<h3 class=\"wp-block-heading\">End of day video review<\/h3>\n\n\n\n<p>Live stream videos to follow Monday, Wednesday and Friday (subject to change).<\/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 December 19, 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":196244,"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":[281,1865,60],"class_list":{"0":"post-196214","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-inside-bar","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open.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\/196214","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=196214"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/196214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/196244"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=196214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=196214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=196214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}