{"id":221124,"date":"2024-10-22T07:27:21","date_gmt":"2024-10-22T14:27:21","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=221124"},"modified":"2024-10-22T22:54:19","modified_gmt":"2024-10-23T05:54:19","slug":"emini-likely-to-continue-sideways-to-up","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-likely-to-continue-sideways-to-up\/","title":{"rendered":"Emini Likely to Continue Sideways to Up"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday October 22, 2024<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">Emini end of day video review<\/h2>\n\n\n\n<div class=\"wp-block-stackable-video-popup stk-block-video-popup stk-block stk-058d017\" data-video=\"https:\/\/www.youtube.com\/watch?v=zcGimMdxycI\" data-block-id=\"058d017\"><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-7cc6b92\" data-block-id=\"7cc6b92\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-7cc6b92\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-7-cc-6-b-92-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-7-cc-6-b-92-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-a1fccd7\" data-block-id=\"a1fccd7\"><figure><span class=\"stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-220667\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Price-Action-Rose-EOD-Review.jpg\" width=\"1280\" height=\"720\" alt=\"Price Action Rose EOD Review\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Price-Action-Rose-EOD-Review.jpg 1280w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Price-Action-Rose-EOD-Review-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Price-Action-Rose-EOD-Review-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Price-Action-Rose-EOD-Review-768x432.jpg 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/span><\/figure><\/div>\n<\/div><\/div>\n\n\n\n<p>Follow Price Action Rose\u2019s <a href=\"https:\/\/www.youtube.com\/watch?v=zcGimMdxycI\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube channel<\/a> for more Al Brooks price action analysis.<\/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 doji bar yesterday and failed to close far below last Thursday\u2019s sell signal bar. This is a bad follow-through for the bears and increases the odds of sideways to up trading.<\/li>\n\n\n\n<li>Traders see the 6,000 round number just about and are hesitant to sell until the market gets to it.<\/li>\n\n\n\n<li>The bears are doing a good job making the market go sideways, but they have not done enough to increase the odds of a strong downside breakout below the moving average.<\/li>\n\n\n\n<li>There are probably buyers below yesterday\u2019s low since it is a bad sell signal bar, and it is in the bottom 1\/3<sup>rd<\/sup> of the six-day tight trading range.<\/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 gapped down on the open and formed a tight trading range for the first 7 bars of the day, just above yesterday\u2019s low.<\/li>\n\n\n\n<li>This increases the odds of a test of the moving average.<\/li>\n\n\n\n<li>The bears are hopeful that the gap down is strong enough for a second leg down.<\/li>\n\n\n\n<li>As of bar 9, the market is probably Always In Long.&nbsp; The bulls are hopeful that the breakout will grow and lead to a trend from the open.<\/li>\n\n\n\n<li>The bears formed a deep pullback down to bar 15, which is disappointing for the bulls.<\/li>\n\n\n\n<li>The Bulls formed an upside breakout on 16-17, which is strong enough for a 2<sup>nd<\/sup> leg up. However, it is a possible double top with bar 8 after a gap down. This increases the risk of a 2<sup>nd<\/sup> leg trap if the bears get more selling pressure. At the moment, the bears need more.<\/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\/10\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Strong-Bear-Breakout.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Strong-Bear-Breakout-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Top and Then Strong Bear Breakout\" class=\"wp-image-221104\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Strong-Bear-Breakout-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Strong-Bear-Breakout-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Strong-Bear-Breakout-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Strong-Bear-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 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\/10\/SP500-Emini-5-Min-Chart-Bull-Channel-and-Midday-Acceleration-Up.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bull-Channel-and-Midday-Acceleration-Up-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bull Channel and Midday Acceleration Up\" class=\"wp-image-221191\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bull-Channel-and-Midday-Acceleration-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bull-Channel-and-Midday-Acceleration-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bull-Channel-and-Midday-Acceleration-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bull-Channel-and-Midday-Acceleration-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<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">EURUSD Forex end of day market analysis<\/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 formed another bear bar today, closing on its low.<\/li>\n\n\n\n<li>The channel up is tight, this increases the odds of a minor reversal up and a test of the moving average.<\/li>\n\n\n\n<li>It is reasonable for bears to exit above a bull bar, closing on its high and&nbsp;expect a couple of legs sideways to up.<\/li>\n\n\n\n<li>Overall, the odds favor a pullback and a couple of legs sideways to up to the moving average. However, because the channel up is tight, the odds of a retest of the October selloff increase.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">EURUSD what to expect going forward<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tomorrow will probably disappoint the bears and not form another strong bear trend bar. This means that yesterday&#8217;s low may act as support.<\/li>\n\n\n\n<li>Because the market is getting far from the moving average on the daily chart, there is an increased risk of any day getting a sharp reversal up. Even if the reversal happens, it will likely be minor.<\/li>\n<\/ul>\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 October 22, 2024 Emini end of day video review Follow Price Action Rose\u2019s YouTube channel for more Al Brooks price action analysis. 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 [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":221104,"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-221124","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\/10\/SP500-Emini-5-Min-Chart-Wedge-Top-and-Then-Strong-Bear-Breakout.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\/221124","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=221124"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/221124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/221104"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=221124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=221124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=221124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}