{"id":222783,"date":"2024-11-11T06:40:47","date_gmt":"2024-11-11T14:40:47","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=222783"},"modified":"2024-11-11T22:13:57","modified_gmt":"2024-11-12T06:13:57","slug":"emini-sellers-above-yesterdays-high-3","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-sellers-above-yesterdays-high-3\/","title":{"rendered":"Emini Sellers above Yesterday&#8217;s High"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Monday November 11, 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-886800a\" data-video=\"https:\/\/www.youtube.com\/watch?v=vPkagI_sXcg\" data-block-id=\"886800a\"><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-f188598\" data-block-id=\"f188598\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-f188598\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-f-188598-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-f-188598-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-182a0de\" data-block-id=\"182a0de\"><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 Gapped up today above last Friday\u2019s high. While this is a sign of strength for the Bulls, they had a tail above the bar last Friday. This increases the odds of sellers above last Friday\u2019s high.<\/li>\n\n\n\n<li>The bulls are around 50 points above the 6,000 round number, a sell zone for traders. Bulls will take partial profits, and bears will look to scale into shorts.<\/li>\n\n\n\n<li>The 6,050 price level is a logical location to scale into shorts for traders expecting the 6,000 round number to get retested.<\/li>\n\n\n\n<li>The 6,000 round number will likely be tested over the next several trading days, which means that the market may have a hard time going far above it.<\/li>\n\n\n\n<li>Overall, the daily chart is becoming climactic, which increases the odds of profit-taking soon, and the market is getting a pullback below the 6,000 round number.<\/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 up on the open, a sign of strength for the bulls. However, as mentioned above, there are probably sellers above.<\/li>\n\n\n\n<li>The bears are trying to get a second entry sell with bar 3 and an early day&#8217;s high.<\/li>\n\n\n\n<li>Because higher time frame charts, such as the daily, are climactic, the odds are increasing that the market will experience a pullback lasting several days.<\/li>\n\n\n\n<li>The bears are hopeful that they will be able to get an opening reversal.<\/li>\n\n\n\n<li>The 60-minute day-only (RTH) Chart has been away from the moving average for a long time and is currently 50 points above it. This increases the odds that the market will pull back and get close to the 60-minute moving average.<\/li>\n\n\n\n<li>Traders should expect the bears to get disappointed and for the market to form a trading range open.<\/li>\n\n\n\n<li>Traders wanting higher probability must wait for a strong breakout up or down with follow-through. At that point, there will be a high probability of getting a second leg toward the breakout.<\/li>\n\n\n\n<li>The bears want to reach last Friday\u2019s bar 75, the most recent major higher low. This would increase the odds that the market has evolved into a trading range.<\/li>\n\n\n\n<li>The bears see bar 2 as a higher high major trend reversal, with last Friday\u2019s bar 75 as a trendline break. Next, they need strong follow-through selling.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Friday&#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\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-Resumption-to-Another-All-time-Market-High.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-Bull-Trend-Resumption-to-Another-All-time-Market-High-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bull Trend Resumption to Another All-time Market High\" class=\"wp-image-222779\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-Resumption-to-Another-All-time-Market-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-Resumption-to-Another-All-time-Market-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-Resumption-to-Another-All-time-Market-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-Resumption-to-Another-All-time-Market-High.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Richard created the SP500 Emini chart &#8211; Al travelling.<\/em><\/p>\n\n\n\n<p class=\"caption\">Here are reasonable stop entry setups from Friday. 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-Gap-Up-to-Low-2-Then-Upper-Lower-Trading-Ranges-680x383.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-Gap-Up-to-Low-2-Then-Upper-Lower-Trading-Ranges-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Gap Up to Low 2 Then Upper Lower Trading Ranges\" class=\"wp-image-223010\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Gap-Up-to-Low-2-Then-Upper-Lower-Trading-Ranges-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Gap-Up-to-Low-2-Then-Upper-Lower-Trading-Ranges-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Gap-Up-to-Low-2-Then-Upper-Lower-Trading-Ranges-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Gap-Up-to-Low-2-Then-Upper-Lower-Trading-Ranges.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Richard created the SP500 Emini chart &#8211; Al travelling.<\/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<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Near-2024-Low.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Near-2024-Low-680x383.jpg\" alt=\"EURUSD Daily: Near 2024 Low \" class=\"wp-image-223002\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Near-2024-Low-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Near-2024-Low-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Near-2024-Low-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Near-2024-Low-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Near-2024-Low.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD is getting a 2<sup>nd<\/sup> leg down after the November 5<sup>th<\/sup> outside down bar. The market is so close to the 2024 low that it may be unable to escape the gravitational pull.<\/li>\n\n\n\n<li>The bulls did a good job preventing the bears from getting a strong follow-through bar. However, the November 6<sup>th<\/sup> breakout bar is strong enough to make the market Always Short, and the odds favor the bears getting a 2<sup>nd<\/sup> leg down.<\/li>\n\n\n\n<li>The Bulls need to stop the selling pressure and make the market begin to go sideways.<\/li>\n\n\n\n<li>Because of the tail below last Friday and today, there is an increased risk that the market may have to pull back before it can reach the 2024 low.<\/li>\n\n\n\n<li>Even if the bulls can get a reversal up, it will likely be minor and lead to a trading range, not a strong bull breakout.<\/li>\n\n\n\n<li>Overall, the bears will likely get to the 2024 low even if it has to pull back first. If tomorrow forms a strong bull reversal bar, the risk of a pullback lasting a couple of legs up will increase.<\/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: Monday November 11, 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 Friday&#8217;s Emini setups Richard created the SP500 Emini chart &#8211; Al travelling. Here are reasonable stop entry [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":222779,"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-222783","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\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-Resumption-to-Another-All-time-Market-High.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\/222783","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=222783"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/222783\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/222779"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=222783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=222783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=222783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}