{"id":207367,"date":"2024-05-09T05:59:48","date_gmt":"2024-05-09T12:59:48","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=207367"},"modified":"2024-05-09T21:20:47","modified_gmt":"2024-05-10T04:20:47","slug":"emini-high-1-buy-sigal-bar","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-high-1-buy-sigal-bar\/","title":{"rendered":"Emini High 1 Buy Signal Bar"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Thursday May 9, 2024<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">End of day video review<\/h2>\n\n\n\n<div class=\"wp-block-stackable-video-popup stk-block-video-popup stk-block stk-30b7ece\" data-video=\"https:\/\/www.youtube.com\/watch?v=bbFuXj8z9kg\" data-block-id=\"30b7ece\"><div class=\"stk-block-video-popup__overlay stk-row stk-inner-blocks stk-block-content stk-hover-parent\" aria-label=\"Play Video\" tabindex=\"0\" role=\"button\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-center stk-block stk-0ab5178\" data-block-id=\"0ab5178\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-0ab5178\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-0-ab-5178-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-0-ab-5178-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-846a5bf\" data-block-id=\"846a5bf\"><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<\/div><\/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 formed a High1 buy signal bar. High 1 setups typically lead to pullback and trend resumption. This means there might be sellers above yesterday\u2019s high, leading to a brief pullback lasting 1 \u2013 2 bars.<\/li>\n\n\n\n<li>Just because there might be more sellers above yesterday\u2019s high, does not make it a great short. The bar is closing on its high and High 1 signal bars, such as this one, often get trend resumption after a pullback. This means traders should look for the trend resumption, not a sell above the bar.<\/li>\n\n\n\n<li>The problem with the bulls is that yesterday was a High 1 buy signal with leg 2 of an overall trading range. This increases the risk of a deep pullback and possible 2<sup>nd<\/sup> leg trap.<\/li>\n\n\n\n<li>The odds slightly favor the bulls, and price testing is close to 5,300, which is a magnet based on the bull breakout of the double bottom (April 19<sup>th<\/sup> low to the April 29<sup>th<\/sup> high).<\/li>\n\n\n\n<li>The bears do not mind a rally up to 5,300 as long as they can form a major trend reversal and break below the April low. The next target for the bears would be the low of the year (January 5<sup>th<\/sup>), which is also the bottom of the bull channel on the daily chart.<\/li>\n\n\n\n<li>Overall, traders will pay attention to what kind of entry bar the bulls can get following yesterday\u2019s high 1 buy signal bar. The bulls want a strong entry bar closing on its high, trapping the bulls out of a winning long position and the bears into a losing position.<\/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>The Emini formed a bull breakout on the 15-minute chart during the 8:30 AM EST report bar. However, the follow-through bar is a bear doji bar, which is disappointing for the bulls.<\/li>\n\n\n\n<li>The bears are hopeful that the 8:30 AM EST bull breakout will fail and lead to a reversal down.<\/li>\n\n\n\n<li>Traders should pay attention to yesterday\u2019s High as it is a magnet. The bull want to trigger the buy above yesterday\u2019s high and break far above it.<\/li>\n\n\n\n<li>The bears want to prevent yesterday\u2019s high 1 from getting a strong entry bar.<\/li>\n\n\n\n<li>As always, traders should assume that today will have a lot of trading range price action until proven otherwise.<\/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\/05\/SP500-Emini-5-Min-Chart-Wedge-Bull-Trend-From-Open-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Bull-Trend-From-Open-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Bull Trend From Open Then Trading Range\" class=\"wp-image-208215\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Bull-Trend-From-Open-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Bull-Trend-From-Open-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Bull-Trend-From-Open-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Bull-Trend-From-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<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\">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\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Wedge Bull Trend From Open\" class=\"wp-image-208279\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-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><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 May 9, 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 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 [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":208215,"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":[329,60],"class_list":{"0":"post-207367","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-high-1-buy-signal","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Bull-Trend-From-Open-Then-Trading-Range.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\/207367","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=207367"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/207367\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/208215"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=207367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=207367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=207367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}