{"id":201117,"date":"2024-02-26T06:33:34","date_gmt":"2024-02-26T14:33:34","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=201117"},"modified":"2024-02-26T21:51:26","modified_gmt":"2024-02-27T05:51:26","slug":"emini-sideways-likely-4","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-sideways-likely-4\/","title":{"rendered":"Emini Sideways Likely"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Monday February 26, 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 profit-taking last Friday after the market reached a new high for 2024.<\/li>\n\n\n\n<li>Traders are becoming more interested in buying closer to the moving average. This is a warning that the market is losing momentum.<\/li>\n\n\n\n<li>Because the breakout last Thursday was strong, it will likely get a second leg up. This increases the odds that the first reversal down will fail.<\/li>\n\n\n\n<li>The Bears need to limit any second leg-up following Thursday\u2019s upside breakout.<\/li>\n\n\n\n<li>The bears want to form a strong entry bar today following Friday\u2019s bear signal bar.<\/li>\n\n\n\n<li>More likely, the bears will need a second entry sell in order to convince traders they have taken control.<\/li>\n\n\n\n<li>Overall, the daily chart will probably go sideways over the next several days.<\/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 3 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has gone sideways for most of the overnight session.<\/li>\n\n\n\n<li>Traders should expect the open to have a lot of trading range price action and go mostly sideways on the open.<\/li>\n\n\n\n<li>Most traders should consider waiting for 6 \u2013 12 bars unless they are comfortable making quick decisions and trading with limit orders.<\/li>\n\n\n\n<li>There is an 80% chance of a trading range open and only a 20% chance of a double top\/bottom or a wedge top\/bottom.<\/li>\n\n\n\n<li>Most traders should wait for the opening swing that often begins before the end of the second hour after forming a double top\/bottom or a wedge top\/bottom.<\/li>\n\n\n\n<li>The opening swing is important because it often provides great risk\/reward, with decent probability, and will often last for at least two legs and often two hours.<\/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-Bear-Trend-From-Open-and-Then-Trading-Range-1.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-Bear-Trend-From-Open-and-Then-Trading-Range-1-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From Open and Then Trading Range\" class=\"wp-image-201184\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Trading-Range-1-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Trading-Range-1-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Trading-Range-1-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Trading-Range-1.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 is continuing to go sideways above the 20-period moving average.<\/li>\n\n\n\n<li>The bulls are hopeful they will be able to stabilize above the moving average. This would increase the odds of higher prices.<\/li>\n\n\n\n<li>The bears see the market as a trading range or a bear trend. They are hopeful that they will be able to form a double top with the February 2<sup>nd<\/sup> high. However, sideways is more likely.<\/li>\n\n\n\n<li>Because of the 9-bar bull microchannel, the odds are the first reversal down will fail to go far.<\/li>\n\n\n\n<li>Overall, the EURUSD will probably go sideways for the next several weeks.<\/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-Broad-Bear-Channel-but-Mostly-Trading-Range.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-Broad-Bear-Channel-but-Mostly-Trading-Range-680x382.jpg\" alt=\"SP500 Emini 5-Min Chart Broad Bear Channel but Mostly Trading Range\" class=\"wp-image-201393\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Broad-Bear-Channel-but-Mostly-Trading-Range-680x382.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Broad-Bear-Channel-but-Mostly-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Broad-Bear-Channel-but-Mostly-Trading-Range-768x431.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/SP500-Emini-5-Min-Chart-Broad-Bear-Channel-but-Mostly-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><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 26, 2024 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 each sell entry bar with [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":201184,"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-201117","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-Bear-Trend-From-Open-and-Then-Trading-Range-1.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\/201117","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=201117"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/201117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/201184"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=201117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=201117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=201117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}