{"id":217513,"date":"2024-09-10T07:41:45","date_gmt":"2024-09-10T14:41:45","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=217513"},"modified":"2024-09-10T22:58:18","modified_gmt":"2024-09-11T05:58:18","slug":"emini-disappointing-rally-likely","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-disappointing-rally-likely\/","title":{"rendered":"Emini Disappointing Rally Likely"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday September 10, 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-89cfa70\" data-video=\"https:\/\/www.youtube.com\/watch?v=kDaN-CXL_8Q\" data-block-id=\"89cfa70\"><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-13e325d\" data-block-id=\"13e325d\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-13e325d\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-13-e-325-d-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-13-e-325-d-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-eb91d2b\" data-block-id=\"eb91d2b\"><figure><span class=\"stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-216272\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone.png\" width=\"1280\" height=\"720\" alt=\"Emini EOD Review Joseph Imbornone\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone.png 1280w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-768x432.png 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/span><\/figure><\/div>\n<\/div><\/div>\n\n\n\n<p>Follow Joseph&#8217;s <a href=\"https:\/\/www.youtube.com\/@JosephImbornone10\" rel=\"noopener\">YouTube channel<\/a> for more Al Brooks price action analysis.<\/p>\n\n\n\n<p>End Of Day Review was presented live in the Trading Room today. See below for details on how to sign up. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P Emini 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 bad follow-through bar following last Friday&#8217;s sell climax. This increases the odds that the market will have to pull back a couple of legs before the bears can get a second leg down.<\/li>\n\n\n\n<li>The bulls are hopeful that yesterday is the start of a bear trap leading to a strong reversal. More likely, the bulls are going to be disappointed by the rally, and it will lead to a trading range and not a strong breakout above the August high.<\/li>\n\n\n\n<li>The risk for the bears is that the recent selloff is a pullback from the August rally that will have to get retested. This means the bears selling here have bad risk\/reward and a probability of less than 60% of a measured move down of the past four bear bars.<\/li>\n\n\n\n<li>The bears have a high probability of getting a second leg down but not yet a high probability of getting a measured move down over the past four bear bars.<\/li>\n\n\n\n<li>This is why selling in a trading range is not ideal. It creates a situation with bad risk\/reward and lower probability, which usually leads to a deep pullback.<\/li>\n\n\n\n<li>Today will probably not become a strong bull bar. This means that bears will see today as a breakout pullback sell signal (Low 1).&nbsp;<\/li>\n\n\n\n<li>Low 1 Sell signal bars typically lead to pullback, followed by an attempt at trend resumption. This means that there will probably be buyers below today\u2019s low.&nbsp;<\/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 Globex market opened with a small gap after breaking out of the high of the trading range, which lasted for several higher.<\/li>\n\n\n\n<li>The early morning rally was likely to become a bull leg in a trading range, and it was met with sellers, leading to a reversal.<\/li>\n\n\n\n<li>The bears formed a strong bear bar on Barr 9, making the market Always In Sort and increasing the odds of a second leg down.<\/li>\n\n\n\n<li>While bar 9 is good for the bears, it is a large climactic bar in a day with a lot of overall. This increases the odds of a trading range, and disappointment before the Bears can get a second leg down after bar 9, which is why bar 12 happened.<\/li>\n\n\n\n<li>At the moment, the odds favor the market falling below the bar 10 high and allowing the bar 9 breakout bears to get their second leg down.<\/li>\n\n\n\n<li>As of bar 15, today will likely be either a trading range day or a bear trend day and not a bull trend day. A trading range is most likely.<\/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\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Wedge Bottom Then Small PB Bull Trend\" class=\"wp-image-217544\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-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<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 sold off going into the end of August, which increased the odds of a second leg down.<\/li>\n\n\n\n<li>The September 9<sup>th<\/sup> rally was a reversal up that was likely to find sellers above, which it did.<\/li>\n\n\n\n<li>Because the rally up to the August high was strong, the odds favored a retest. This increased the odds that the rally above the September 9<sup>th<\/sup> high would go further than what the bears wanted.<\/li>\n\n\n\n<li>As of the close of today, the bears have three consecutive bear bars closing near their lows.<\/li>\n\n\n\n<li>The bears are hopeful that the bulls who bought the September 6<sup>th<\/sup> low are trapped, which will increase the odds of lower prices.<\/li>\n\n\n\n<li>While the bears have done a good job, the context favors the bulls. The rally up to the August high is tight, which increases the odds of buyers below.<\/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\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-and-Then-Wedge-Bottom.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-and-Then-Wedge-Bottom-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Low 2 Top and Then Wedge Bottom\" class=\"wp-image-217622\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-and-Then-Wedge-Bottom-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-and-Then-Wedge-Bottom-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-and-Then-Wedge-Bottom-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Low-2-Top-and-Then-Wedge-Bottom.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: Tuesday September 10, 2024 End of day video review Follow Joseph&#8217;s YouTube channel for more Al Brooks price action analysis. End Of Day Review was presented live in the Trading Room today. See below for details on how to sign up. S&amp;P Emini market analysis Emini daily chart Emini 5-minute chart and what [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":217544,"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":[281,60],"class_list":{"0":"post-217513","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-eurusd-forex","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend.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\/217513","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=217513"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/217513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/217544"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=217513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=217513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=217513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}