{"id":223562,"date":"2024-11-20T06:39:24","date_gmt":"2024-11-20T14:39:24","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=223562"},"modified":"2024-11-20T22:46:33","modified_gmt":"2024-11-21T06:46:33","slug":"emini-outside-up-bad-context-for-bulls","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-outside-up-bad-context-for-bulls\/","title":{"rendered":"Emini Outside Up Bad Context for Bulls"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday November 20, 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-7cbe96f\" data-video=\"https:\/\/www.youtube.com\/watch?v=WoXiv94lEZI\" data-block-id=\"7cbe96f\"><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-5c36d04\" data-block-id=\"5c36d04\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-5c36d04\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-5-c-36-d-04-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-5-c-36-d-04-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-66e2606\" data-block-id=\"66e2606\"><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 an outside up-reversal bar yesterday after falling below last Friday\u2019s low. The bulls did a good job getting an outside up bar, however the context is bad. <\/li>\n\n\n\n<li>The bulls are hopeful that yesterday is a strong enough reversal bar that the odds favor a second leg up.<\/li>\n\n\n\n<li>The bears see yesterday as a pullback from the selloff to the November 15<sup>th<\/sup> low.<\/li>\n\n\n\n<li>The daily charts will probably go sideways for the next couple of days.<\/li>\n\n\n\n<li>The bears want to reach the November 4<sup>th<\/sup> major higher low. The Bulls want to get up to the November high.<\/li>\n\n\n\n<li>The daily chart has been in a bull channel, which is a trend. However, bears are making money selling above breakout points (October 17th), which increases the odds that the channel will convert into a trading range.<\/li>\n\n\n\n<li>The bulls want follow-through buying today after yesterday\u2019s strong bull close. They will likely be disappointed; today, there will not be a strong bull bar.<\/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 sold off, forming a strong bear breakout on bar 2. This is strong enough bear surprise that the odds favor a second leg down.<\/li>\n\n\n\n<li>Bar 2 is strong enough that today will probably be either a bear trend or a trading range day.<\/li>\n\n\n\n<li>The midpoint of yesterday is 5,911.75 which is important. This is because there will be bull buying at this price level with a stop at yesterday\u2019s low taking a chance that the market will rally above yesterday\u2019s high, giving the bulls a 1:1 Risk\/reward on their trade.<\/li>\n\n\n\n<li>The momentum down is strong on bar 2, which will limit some of the bulls&#8217; buying without seeing the strength of the second leg down.<\/li>\n\n\n\n<li>The Bulls are hopeful that bar 2 is a 2<sup>nd<\/sup> leg trap with yesterday\u2019s bar 63. However, the strength of bar 2 makes this unlikely.<\/li>\n\n\n\n<li>As of bar 3 the market is Always In Short and likely to get a 2<sup>nd<\/sup> leg down. The bulls will need to develop more buying pressure if they are going to get a reversal of bar 2.<\/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\/11\/SP500-Emini-5-Min-Chart-Bear-Trap-and-Then-Small-Pullback-Bull-Trend.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-Bear-Trap-and-Then-Small-Pullback-Bull-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trap and Then Small Pullback Bull Trend\" class=\"wp-image-223667\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Bear-Trap-and-Then-Small-Pullback-Bull-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Bear-Trap-and-Then-Small-Pullback-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Bear-Trap-and-Then-Small-Pullback-Bull-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Bear-Trap-and-Then-Small-Pullback-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\">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-Sell-Climax-Then-Reversal-Up.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-Sell-Climax-Then-Reversal-Up-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Sell Climax Then Reversal Up\" class=\"wp-image-223738\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Sell-Climax-Then-Reversal-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Sell-Climax-Then-Reversal-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Sell-Climax-Then-Reversal-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/SP500-Emini-5-Min-Chart-Sell-Climax-Then-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<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-Test-of-November-14th-Low-Likely.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Test-of-November-14th-Low-Likely-680x383.jpg\" alt=\"EURUSD Daily: Test of November 14th Low Likely\" class=\"wp-image-223698\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Test-of-November-14th-Low-Likely-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Test-of-November-14th-Low-Likely-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Test-of-November-14th-Low-Likely-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Test-of-November-14th-Low-Likely-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/EURUSD-Daily-Test-of-November-14th-Low-Likely.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD formed a bad follow-through bar yesterday after Monday\u2019s bull reversal bar closing on its high.<\/li>\n\n\n\n<li>The selloff down to the November low formed a 7-bar bear microchannel, which increases the odds of the first reversal up being minor.<\/li>\n\n\n\n<li>The bulls tried to get a reversal up on Monday but failed to get follow-through buying yesterday. Because of that, both Bulls and Bears sold expecting an attempt at a 2nd leg down to below the November 14<sup>th<\/sup> low.<\/li>\n\n\n\n<li>Yesterday formed a micro double top with Monday\u2019s rally, which increased the odds of a reversal down.<\/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: Wednesday November 20, 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":223667,"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-223562","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-Bear-Trap-and-Then-Small-Pullback-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\/223562","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=223562"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/223562\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/223667"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=223562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=223562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=223562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}