{"id":200944,"date":"2024-02-22T06:32:54","date_gmt":"2024-02-22T14:32:54","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=200944"},"modified":"2024-02-22T20:14:53","modified_gmt":"2024-02-23T04:14:53","slug":"emin-buyers-at-daily-moving-average","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emin-buyers-at-daily-moving-average\/","title":{"rendered":"Emini Buyers at Daily Moving Average"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Thursday February 22, 2024<\/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 once again at the daily moving average. &nbsp;The market has been in a bull trend since early November, which means that the best the bears can expect is a trading range.<\/li>\n\n\n\n<li>As I have said several times, the bears need to get strong closes below the moving average for traders to believe that a bear trend is possible.<\/li>\n\n\n\n<li>The bears are getting a frequent test of the moving average, which is an increased sign of selling pressure; it is still not enough.<\/li>\n\n\n\n<li>At the moment, the odds are that the daily chart will begin to go sideways for several weeks.<\/li>\n\n\n\n<li>Because the market is holding above the moving average, the probability is slightly higher for the bulls regarding trend resumption up.<\/li>\n\n\n\n<li>Overall, the bears need to do more. This means that bulls will be buying every test of the moving average, betting on a bounce.<\/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 65 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market rallied yesterday after the release of Nvidia\u2019s earnings. The breakout was strong enough that the odds favored higher prices.<\/li>\n\n\n\n<li>The market is at support on the daily chart, which increases the odds of higher prices.<\/li>\n\n\n\n<li>The U.S. Session will likely have a large gap up on the open. This will increase the odds of the bulls getting a 2<sup>nd<\/sup> leg up. However, the market may have to go sideways on the open before the bulls get a second leg up.<\/li>\n\n\n\n<li>Traders should expect a trading range open and for the market to get closer to the moving average.<\/li>\n\n\n\n<li>Because the market is climactic with yesterday\u2019s late rally, today will probably have two hours of sideways trading beginning before the end of the second hour. There is a 75% chance of a trading range open lasting two hours, beginning before the end of the second hour.<\/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\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Trading-Range-Day.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-Wedge-Top-and-Then-Trading-Range-Day-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Top and Then Trading Range Day\" class=\"wp-image-201049\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Trading-Range-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Trading-Range-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Trading-Range-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Trading-Range-Day.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 broke far above the 20-period moving average today and found sellers.<\/li>\n\n\n\n<li>The odds favor a trading range and not the start of a bull trend.<\/li>\n\n\n\n<li>While the bulls have done a great job getting close above the moving average, it is not enough to make the market transition into a bull trend.<\/li>\n\n\n\n<li>The recent buying pressure is enough to end the bear trend, which means that the market is likely in a trading range now.<\/li>\n\n\n\n<li>It was reasonable to buy the February 1<sup>st<\/sup> bull reversal bar and scale in lower. Part of the reason for the selling at today\u2019s high was due to it retesting the February 1<sup>st<\/sup> buy signal bar high.<\/li>\n\n\n\n<li>Overall, traders should expect the market to go sideways near the moving average for several bars.<\/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-Wedge-Top-Failed-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-Wedge-Top-Failed-Then-Small-Pullback-Bull-Trend-680x382.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Top Failed Then Small Pullback Bull Trend\" class=\"wp-image-201095\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-Small-Pullback-Bull-Trend-680x382.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-Small-Pullback-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-Small-Pullback-Bull-Trend-768x431.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-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<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: Thursday February 22, 2024 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":201049,"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-200944","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\/2024\/02\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Trading-Range-Day.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\/200944","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=200944"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/200944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/201049"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=200944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=200944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=200944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}