{"id":218941,"date":"2024-09-26T07:03:25","date_gmt":"2024-09-26T14:03:25","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=218941"},"modified":"2024-09-26T21:54:16","modified_gmt":"2024-09-27T04:54:16","slug":"emini-breaking-above-5800","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-breaking-above-5800\/","title":{"rendered":"Emini Breaking above 5,800"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\" id=\"0-trading-update-thursday-september-26-2024\">Trading Update: Thursday September 26, 2024<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"8-end-of-day-video-review\">End of day video review<\/h2>\n\n\n\n<div class=\"wp-block-stackable-video-popup stk-block-video-popup stk-block stk-5049f55\" data-video=\"https:\/\/www.youtube.com\/watch?v=Lb7uCe9FJt4\" data-block-id=\"5049f55\"><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-b919d0d\" data-block-id=\"b919d0d\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-b919d0d\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-b-919-d-0-d-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-b-919-d-0-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-4fee4ce\" data-block-id=\"4fee4ce\"><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\" id=\"1-sampp-emini-market-analysis\">S&amp;P Emini market analysis<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-emini-daily-chart\">Emini daily chart<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Emini formed a weak bear bar yesterday on the daily chart in the middle of a five-day tight trading range and is currently breaking above the 5,800-round number during the early morning hours.<\/li>\n\n\n\n<li>The tight trading range is a sign of hesitation by the bulls, increasing the odds of sideways trading soon.<\/li>\n\n\n\n<li>Because the tight trading range is just below the 5,800-round number, there is an increased risk that the market will have to gap up to reach it, which is what happened today.<\/li>\n\n\n\n<li>Since today is gapping up on the daily chart, traders should expect that the market will retest yesterday\u2019s high and fall below the 5,800-round number. This means that 5,800 is a magnet for the bears.<\/li>\n\n\n\n<li>It was reasonable for the bears to sell the 5,800 round number and scale in higher, betting that, at a minimum, the market would retest the 5,800 round number and allow the bears to exit at their original entry.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-emini-5-minute-chart-and-what-to-expect-today\">Emini 5-minute chart and what to expect today<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The formed a gap up above the 5,800-round number. There are likely sellers above the round number, making it a likely magnet for the bears to test.<\/li>\n\n\n\n<li>The bears formed a strong bear bar on bar 1, and, as of bar 8, has a bear trend from the open.<\/li>\n\n\n\n<li>Because of the gap up, there is an increased risk that the selloff below bar 1 will lead to a trading range and not a bear trend. This increases the risk of buyers below scaling in down to the moving average.<\/li>\n\n\n\n<li>The bears are allowing too much buying pressure down to bar 6. This increases the risk that the bears will exit, and the market may have to form a double top.<\/li>\n\n\n\n<li>The bears need a strong downside breakout to convince traders the market is Always In Short.<\/li>\n\n\n\n<li>The market is forming a tight bear channel that is likely a bear leg in what will become a trading range. If the bears can create multiple open gaps, the risk of a small pullback bear trend is increased.<\/li>\n\n\n\n<li>Without open gaps, the odds favor a bear leg In a trading range.<\/li>\n\n\n\n<li>The primary issue for the bears is that the gap up is a bull breakout, and breakouts typically get 2<sup>nd<\/sup> legs. This means that the market may have to retest up to the upper 1\/3<sup>rd<\/sup> of today\u2019s.<\/li>\n\n\n\n<li>The first hours formed a strong bear bar, closing on its low on the 60-minute chart. This increases the odds that there will be sellers on any pullback (5-minute chart), and the bears will get a second leg down.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"4-yesterdays-emini-setups\">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-Min-Chart-Double-Top-Then-Tight-Bear-Channel.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Double-Top-Then-Tight-Bear-Channel-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Double Top Then Tight Bear Channel\" class=\"wp-image-219153\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Double-Top-Then-Tight-Bear-Channel-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Double-Top-Then-Tight-Bear-Channel-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Double-Top-Then-Tight-Bear-Channel-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Double-Top-Then-Tight-Bear-Channel.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\" id=\"5-eurusd-forex-market-trading-strategies\">EURUSD Forex market trading strategies<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"6-eurusd-forex-daily-chart\">EURUSD Forex daily chart<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD is forming a tight trading range at the high of the August high.<\/li>\n\n\n\n<li>The bears are hopeful that the market is forming a double top with the August high. Next, they want a downside breakout and a break below the neckline of the September low. They are hopeful that they need a measured move down.<\/li>\n\n\n\n<li>More likely, the EURUSD is going to continue to go sideways in the tight trading range.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"7-summary-of-todays-sampp-emini-price-action\">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-Min-Chart-Bear-Trend-from-Open-Then-Midday-Reversal-Up.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Bear-Trend-from-Open-Then-Midday-Reversal-Up-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend from Open Then Midday Reversal Up\" class=\"wp-image-219223\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Bear-Trend-from-Open-Then-Midday-Reversal-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Bear-Trend-from-Open-Then-Midday-Reversal-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Bear-Trend-from-Open-Then-Midday-Reversal-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Min-Chart-Bear-Trend-from-Open-Then-Midday-Reversal-Up.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\" id=\"9-trading-room\">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\" id=\"10-charts-use-pacific-time\">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 September 26, 2024 End of day video review S&amp;P Emini 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 [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":219153,"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-218941","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-Min-Chart-Double-Top-Then-Tight-Bear-Channel.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\/218941","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=218941"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/218941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/219153"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=218941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=218941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=218941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}