{"id":200121,"date":"2024-02-12T06:24:48","date_gmt":"2024-02-12T14:24:48","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=200121"},"modified":"2024-02-16T00:55:51","modified_gmt":"2024-02-16T08:55:51","slug":"emini-far-from-moving-average-and-5000-round-number","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-far-from-moving-average-and-5000-round-number\/","title":{"rendered":"Emini Far from Moving Average and 5,000 Round Number"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Trading Update: Monday February 12, 2024<\/h2>\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-3e963dd\" data-video=\"https:\/\/www.youtube.com\/watch?v=XCTex5VxMc8\" data-block-id=\"3e963dd\"><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-c51647e\" data-block-id=\"c51647e\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-c51647e\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-c-51647-e-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-c-51647-e-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-5713e28\" data-block-id=\"5713e28\"><figure><span 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\" \/><\/span><\/figure><\/div>\n<\/button><\/div>\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 far from the moving average and the 5,000 round number, which increases the odds of a pullback this week.<\/li>\n\n\n\n<li>The Emini rallied on Friday after last Thursday\u2019s inside bar, which is a High 1 buy signal bar.<\/li>\n\n\n\n<li>Inside bars late in a bull trend often act as final flags, leading to a pullback within a bar or two. This increases the odds of the Bulls getting disappointed and having a pullback today or tomorrow.<\/li>\n\n\n\n<li>While the bulls have done a great job with the buying pressure, this will probably lead to profit-taking and sideways to down trading.<\/li>\n\n\n\n<li>The bears need to develop more selling pressure to take control of the market.<\/li>\n\n\n\n<li>The Emini has only had three closes below the moving average since mid-November last year. This is a sign of strong trending behavior. Trends typically evolve into trading ranges and not opposite trends. This means that the bears need to form a trading range before they will have a shot at a bear trend.<\/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 down 2 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has been in a tight trading range for most of the overnight session.<\/li>\n\n\n\n<li>The open of the U.S. Session will likely have little to no gap.<\/li>\n\n\n\n<li>As I often say, traders should expect the open to have a lot of trading range price action. This means that most traders should consider not trading during the first 6 \u2013 12 bars unless they can use wide stops and trade with limit orders.<\/li>\n\n\n\n<li>Most traders should wait for the market to form a double top\/bottom or a wedge top\/bottom, often leading to the opening swing.<\/li>\n\n\n\n<li>It is common for the market to form a swing trade before the end of the second, which lasts for two legs and two hours.<\/li>\n\n\n\n<li>Today will probably form a disappointment bar, following Friday\u2019s bull trend bar. This means traders should pay attention to Friday\u2019s close and the day&#8217;s open, as they will likely act as resistance.<\/li>\n\n\n\n<li>The most important thing on the open is being patient and not rushing to trade. A trader needs one to three reasonable trades a day, and there is plenty of time to find them.<\/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\/2024\/02\/SP500-Emini-5-Min-Chart-High-2-and-Then-Small-Pullback-Bull-Trend.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"382\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-High-2-and-Then-Small-Pullback-Bull-Trend-680x382.jpg\" alt=\"SP500 Emini 5-Min Chart High 2 and Then Small Pullback Bull Trend\" class=\"wp-image-200165\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-High-2-and-Then-Small-Pullback-Bull-Trend-680x382.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-High-2-and-Then-Small-Pullback-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-High-2-and-Then-Small-Pullback-Bull-Trend-768x431.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-High-2-and-Then-Small-Pullback-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<p class=\"caption\">Here are reasonable stop entry setups from Friday. 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 formed four consecutive bull bars and today is attempting to form a bear reversal bar.<\/li>\n\n\n\n<li>The bears are still hopeful that the market will get a second leg down after the two-bar breakout on February 5<sup>th<\/sup>.<\/li>\n\n\n\n<li>The bulls see the market close to major support, the December 2023 low. They want the downside breakout to fail and form a double bottom with the February 6<sup>th<\/sup> low.<\/li>\n\n\n\n<li>The market is still Always In Short, however, the four consecutive bull bars at the December 2023 low is disappointing for the bears.<\/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\/2024\/02\/SP500-Emini-5-Min-Chart-Bull-Trend-From-Open-Then-Reversal-Down.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bull-Trend-From-Open-Then-Reversal-Down-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bull Trend From Open Then Reversal Down\" class=\"wp-image-200451\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bull-Trend-From-Open-Then-Reversal-Down-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bull-Trend-From-Open-Then-Reversal-Down-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bull-Trend-From-Open-Then-Reversal-Down-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bull-Trend-From-Open-Then-Reversal-Down.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><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 February 12, 2024 End of day video review S&amp;P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Friday&#8217;s Emini setups Al created the SP500 Emini charts. Here are reasonable stop entry setups from Friday. I show each buy entry bar with a green arrow and [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":200165,"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-200121","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\/2024\/02\/SP500-Emini-5-Min-Chart-High-2-and-Then-Small-Pullback-Bull-Trend.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\/200121","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=200121"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/200121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/200165"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=200121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=200121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=200121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}