{"id":211437,"date":"2024-06-28T06:15:08","date_gmt":"2024-06-28T13:15:08","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=211437"},"modified":"2024-06-28T22:15:46","modified_gmt":"2024-06-29T05:15:46","slug":"emini-bears-want-reversal-bar-today","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-bears-want-reversal-bar-today\/","title":{"rendered":"Emini Bears Want Reversal Bar Today"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday June 28, 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 formed another bull bar yesterday but failed to close above Wednesday\u2019s high. This is a sign that the Bulls are getting weaker and that the market will probably go sideways to down. The Bears are hopeful that they can get a reversal bar today, closing on its low. <\/li>\n\n\n\n<li>The bulls are losing momentum far above the moving average. This increases the odds that the market will reach the moving average soon.<\/li>\n\n\n\n<li>Today will probably disappoint the bulls and close as a bear bar.<\/li>\n\n\n\n<li>The bears are hopeful that they will be able to form a strong reversal down today, which will lead to a test of the moving average.<\/li>\n\n\n\n<li>The Juen rally is tight, meaning the odds favor a trading range, not a bear trend.<\/li>\n\n\n\n<li>The bears have halted the buying, which is good; however, they need to do more. Ideally, the bears need consecutive bear bars closing on their lows. That would increase the odds of a second leg down.<\/li>\n\n\n\n<li>Since the market is far from the moving average, there will probably be a buyer on the test of it.<\/li>\n\n\n\n<li>Overall, the daily chart will probably continue to go sideways and eventually test down to the March high and the May 31<sup>st<\/sup> low. However, this could take several months to happen.<\/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 12 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has been in a tight bull channel (15-minute chart) for most of the session.<\/li>\n\n\n\n<li>The bears recently formed a downside breakout during the 8:30 AM EST report.<\/li>\n\n\n\n<li>The bears will see the 15-minute Globex chart as a bull channel that should evolve into a trading range. This means the odds favor the bear breakout, getting the second leg down.<\/li>\n\n\n\n<li>The bears are hopeful that today will form a strong bear trend day, leading to a bear reversal bar on the daily chart.<\/li>\n\n\n\n<li>The bulls want to prevent today from becoming a bear trend day.<\/li>\n\n\n\n<li>While the bears have a chance of a bear trend during the U.S. Session, the odds favor a trading range open.<\/li>\n\n\n\n<li>This means traders should be prepared for the market to go sideways on the open. There is only a 20% chance of a trend from the open and an 80% chance of a trading range open.<\/li>\n\n\n\n<li>Most traders should wait for 6-12 bars before placing a trade. This will increase their odds of catching either the high or low of the day. It will also reduce the risk of a trader getting trapped in a failed breakout.<\/li>\n\n\n\n<li>It is common for the opening range to expand and then contract during the middle of the range. This increase in volatility on the open can cause traders to face a big loss on the open. If the range contracts during the middle of the day, it can make it difficult to make the loss up.<\/li>\n\n\n\n<li>Today is Friday, so weekly support and resistance are important. Traders should be prepared for a possible surprise breakout late in the day as traders decide to close the weekly chart.<\/li>\n\n\n\n<li>The midpoint of the week is 5,534.25, which is a magnet for the market to try and test today.<\/li>\n\n\n\n<li>Overall, traders should be patient on the open and wait for clarity. It is common or the open to have several reversals before a successful swing trade begins.<\/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\/06\/SP500-Emini-5-Minute-HH-Double-Top-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-HH-Double-Top-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Minute HH Double Top Then Trading Range\" class=\"wp-image-211641\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-HH-Double-Top-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-HH-Double-Top-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-HH-Double-Top-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-HH-Double-Top-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\">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 Daily chart is in a tight trading range, below the moving average. <\/li>\n\n\n\n<li>The Bulls have had several opportunities to make money buying below bars. This increases the odds of bounce and a test of the moving average soon.<\/li>\n\n\n\n<li>The problem that the bulls have is that the market has spent 11 trading days completely below the moving average on the daily chart. This is a sign of trending behavior.<\/li>\n\n\n\n<li>The bears are likely not interested in selling below bars at this point unless the daily chart gets a surprise downside breakout.<\/li>\n\n\n\n<li>Without a strong bear breakout or a series of bear closes, the bears will likely continue to buy back shorts and new lows, and bulls will buy for a reversal up.<\/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\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Small-Pullback-Bear-Trend.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Small-Pullback-Bear-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Minute Buy Climax and Then Small Pullback Bear Trend\" class=\"wp-image-211720\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Small-Pullback-Bear-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Small-Pullback-Bear-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Small-Pullback-Bear-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Small-Pullback-Bear-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: Friday June 28, 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":211641,"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-211437","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\/06\/SP500-Emini-5-Minute-HH-Double-Top-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\/211437","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=211437"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/211437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/211641"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=211437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=211437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=211437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}