{"id":201589,"date":"2024-03-04T06:23:56","date_gmt":"2024-03-04T14:23:56","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=201589"},"modified":"2024-03-04T21:06:50","modified_gmt":"2024-03-05T05:06:50","slug":"emini-bulls-hopeful-for-follow-through-buying","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-bulls-hopeful-for-follow-through-buying\/","title":{"rendered":"Emini Bulls Hopeful for Follow-through Buying"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Monday March 4, 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 rallied above the February 23<sup>rd<\/sup> high last Friday. The bulls want follow-through buying today and another strong bull close on the daily chart. <\/li>\n\n\n\n<li>More likely, today will disappoint the bulls and not be another strong bull close on the daily chart. <\/li>\n\n\n\n<li>The bulls hope to continue to create negative gaps on the daily chart, which would increase the odds of an upside breakout.<\/li>\n\n\n\n<li>While the bears are beginning to develop more selling pressure by getting to the moving average, they have not done enough.<\/li>\n\n\n\n<li>The market is still Always In Long, meaning the odds favor higher prices.<\/li>\n\n\n\n<li>The bears need to get closes below the moving average as a further sign of strength and control of the market.<\/li>\n\n\n\n<li>Without closes below the moving average, the market will likely continue to go sideways to up.<\/li>\n\n\n\n<li>Even if the market gets 2-3 closes below the moving average, the odds will still favor a trading range more than 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 12 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has been drifting sideways to down for the past several hours.<\/li>\n\n\n\n<li>The selloff looks like a bear leg in a trading range and just a pullback following last Friday\u2019s rally.<\/li>\n\n\n\n<li>Traders should be prepared for a possible early low of the U.S. Session.<\/li>\n\n\n\n<li>Last Friday was a buy signal bar for the bulls, which means they will try to trigger it by going above it during the U.S. session.<\/li>\n\n\n\n<li>Traders should expect a trading range open lasting at least 6-12 bars. This means the best thing a trader can do on the open is to be patient and wait for some strong breakout with follow-through or for the market to form a double top\/bottom or a wedge top\/bottom.<\/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\/03\/SP500-Emini-5-Minute-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\/2024\/03\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Small Pullback Bull Trend From The Open\" class=\"wp-image-201660\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Minute-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 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<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Bulls-Want-Test-of-Prior-Lower-Highs.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Bulls-Want-Test-of-Prior-Lower-Highs-680x383.jpg\" alt=\"EURUSD Daily: Bulls Want Test of Prior Lower Highs\" class=\"wp-image-201887\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Bulls-Want-Test-of-Prior-Lower-Highs-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Bulls-Want-Test-of-Prior-Lower-Highs-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Bulls-Want-Test-of-Prior-Lower-Highs-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/EURUSD-Daily-Bulls-Want-Test-of-Prior-Lower-Highs.jpg 960w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD formed a Bull Bar yesterday, which is a second entry buy.<\/li>\n\n\n\n<li>The bulls are hopeful that today will create a strong entry bar today and break above the February 22<sup>nd<\/sup> high.<\/li>\n\n\n\n<li>The bears want to disappoint the bulls by creating a bear bar today.<\/li>\n\n\n\n<li>Overall, the daily chart is converting into a trading range and will probably begin to test prior major lower highs back in January.<\/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\/03\/SP500-Emini-5-Min-Chart-Broad-Bull-Channel-Failed-Bull-Breakout.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Broad-Bull-Channel-Failed-Bull-Breakout-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Broad Bull Channel Failed Bull Breakout\" class=\"wp-image-201923\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Broad-Bull-Channel-Failed-Bull-Breakout-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Broad-Bull-Channel-Failed-Bull-Breakout-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Broad-Bull-Channel-Failed-Bull-Breakout-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Broad-Bull-Channel-Failed-Bull-Breakout.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 March 4, 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":201660,"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-201589","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\/03\/SP500-Emini-5-Minute-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\/201589","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=201589"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/201589\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/201660"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=201589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=201589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=201589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}