{"id":221940,"date":"2024-11-01T06:28:39","date_gmt":"2024-11-01T13:28:39","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=221940"},"modified":"2024-11-01T22:01:54","modified_gmt":"2024-11-02T05:01:54","slug":"emini-strong-bear-breakout-3","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-strong-bear-breakout-3\/","title":{"rendered":"Emini Strong Bear Breakout"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday November 1, 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-340a9c7\" data-video=\"https:\/\/www.youtube.com\/watch?v=Js7RDcoHk4Y\" data-block-id=\"340a9c7\"><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-5625c73\" data-block-id=\"5625c73\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-5625c73\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-5625-c-73-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-5625-c-73-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-5e29750\" data-block-id=\"5e29750\"><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><em>Follow Joseph&#8217;s <a href=\"https:\/\/www.youtube.com\/@JosephImbornone10\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube channel<\/a> for more Al Brooks price action analysis.<\/em><\/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 strong bear breakout, closing far below yesterday&#8217;s moving average.<\/li>\n\n\n\n<li>Yesterday is a strong enough downside breakout that the odds favor a second leg.<\/li>\n\n\n\n<li>The bears formed a bear breakout below the bull flag (October 17<sup>th<\/sup> high and October 23<sup>rd<\/sup> low).<\/li>\n\n\n\n<li>While the bears have a strong bear breakout, it will become a higher probability short if they create a strong follow-through bar.<\/li>\n\n\n\n<li>Even if today is a bull reversal bar, there are probably sellers above. This will increase the probability of a second leg down.<\/li>\n\n\n\n<li>The bears managed to close the October 26<sup>th<\/sup> breakout point high. This is a sign that the market is evolving into a trading range.<\/li>\n\n\n\n<li>Traders will pay close attention to what kind of follow-through bar today will be.<\/li>\n\n\n\n<li>Because the market is in a trading range, today will probably form a disappointment bar for the bears.<\/li>\n\n\n\n<li>Overall, yesterday was a strong enough bear surprise breakout that the odds for a second leg down.<\/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 U.S. Session is going to gap up to the upper 1\/3<sup>rd<\/sup> of the trading range high (Yesterday\u2019s bar 76).<\/li>\n\n\n\n<li>Today will probably have a lot of trading range price action. This means traders should consider not trading for the first 6-12 bars. Unless they can make quick decisions.<\/li>\n\n\n\n<li>There is an 80% chance of a trading range open and only a 20% chance of a trend from the open up or down.<\/li>\n\n\n\n<li>All trading ranges form either a double top\/bottom or a wedge top\/bottom. This means there is an 80% chance of one of the abovementioned patterns to form.<\/li>\n\n\n\n<li>Most opens have an opening swing that typically begins before the end of the second hour.<\/li>\n\n\n\n<li>Traders should try and catch the opening swing. One way to do this is to wait for a trading range to form and enter one of the patterns mentioned above.<\/li>\n\n\n\n<li>Today is Friday, which means that the weekly chart is important. This increases the risk of a surprise breakout late in the day as traders decide on the close of the weekly chart.<\/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-Bear-Trend-From-Open-and-Then-Trading-Range.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-Bear-Trend-From-Open-and-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From Open and Then Trading Range\" class=\"wp-image-221909\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-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\/11\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Buy-Climax-Then-Reversal-Down.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Buy-Climax-Then-Reversal-Down-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Parabolic Wedge Buy Climax Then Reversal Down\" class=\"wp-image-222017\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Buy-Climax-Then-Reversal-Down-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Buy-Climax-Then-Reversal-Down-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Buy-Climax-Then-Reversal-Down-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Buy-Climax-Then-Reversal-Down.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 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 a strong bull bar at the daily moving average. While this is good for the bulls, it forces traders to buy right at the&nbsp;important resistance, the moving average.<\/li>\n\n\n\n<li>Yesterday\u2019s bar spent much time as a weak doji bar and rallied during yesterday\u2019s afternoon hours. The follow-through bar yesterday also overlaps with Wednesday\u2019s bull breakout bar. This increases the odds of disappointment, which is why we are getting a bear reversal bar today.<\/li>\n\n\n\n<li>If today closes on its low, it will be enough of a reason for bulls to consider exiting below it; however, it is a 4-bar bull micro channel, which will lower the probability of the bears selling.<\/li>\n\n\n\n<li>The bears will seen today as a second entry sale, with October 25<sup>th<\/sup> as the first entry.<\/li>\n\n\n\n<li>Overall, the current rally is likely a minor reversal up. This means that the market may have to test down to the October low and form a double bottom before traders can make a more credible reversal up.<\/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: Friday November 1, 2024 Emini end of day video review Follow Joseph&#8217;s 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 from yesterday. [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":221909,"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":[1861,281,60],"class_list":{"0":"post-221940","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-bear-breakout","11":"tag-eurusd-forex","12":"tag-sp-emini","13":"entry","14":"override","15":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-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\/221940","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=221940"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/221940\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/221909"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=221940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=221940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=221940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}