For Monday December 20, 2021
Full Emini and Forex trading update reports will be issued on Wednesday and Friday. This “SP500 Emini trade setups” post will be published on Monday, Tuesday, and Thursday each week.
Because I often get questions about what Brooks Encyclopedia members see, today I am including the chart setups examples below from the Encyclopedia plus the detailed Daily Setups chart for the day.
Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell entry with a red rectangle. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a much more detailed explanation of the swing trades for each day (see Online Course/BTC Daily Setups).
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.
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.
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.
Brooks Encyclopedia and Daily Setups chart samples
Al has an Encyclopedia of Chart Patterns that contains thousands of slides that he grouped by specific patterns. For example, if there is a parabolic wedge bottom after a gap down on the open, a trader can look up that pattern in the Encyclopedia to get an idea of how the rest of today might unfold.
The Encyclopedia is only available for purchase by those who have already purchased access to the Brooks Trading Course and/or Brooks Forex Trading Course at least 60 days earlier. Members also get to see more detailed versions of the Daily Setup slides that he posts in his daily blog.
Below are slides from yesterday that he added to his Encyclopedia (gold title bars). Those are followed by his more detailed Daily Setup slide (blue title bar) for yesterday as well.
For Tuesday December 21, 2021
Charts use Pacific Time
When I mention time, 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 Market Update page.
