{"id":114542,"date":"2021-04-10T01:30:00","date_gmt":"2021-04-10T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=114542"},"modified":"2021-04-21T03:55:57","modified_gmt":"2021-04-21T10:55:57","slug":"emini-11-day-bull-micro-channel","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-11-day-bull-micro-channel\/","title":{"rendered":"Emini in parabolic wedge buy climax and 11-day bull micro channel"},"content":{"rendered":"<div style=\"max-width: -moz-fit-content; \" class=\"wp-block-ub-table-of-contents-block ub_table-of-contents\" id=\"ub_table-of-contents-0d47d192-f6f4-4452-af7d-084e103e024c\" data-linktodivider=\"false\" data-showtext=\"show\" data-hidetext=\"hide\" data-scrolltype=\"auto\" data-enablesmoothscroll=\"false\" data-initiallyhideonmobile=\"false\" data-initiallyshow=\"true\"><div class=\"ub_table-of-contents-header-container\" style=\"\">\n\t\t\t<div class=\"ub_table-of-contents-header\" style=\"text-align: left; \">\n\t\t\t\t<div class=\"ub_table-of-contents-title\" style=\"\">Weekend report table of contents  <\/div>\n\t\t\t\t<div class=\"ub_table-of-contents-header-toggle\">\n\t\t\t<div class=\"ub_table-of-contents-toggle\" style=\"\">\n\t\t\t\u00a0[<a class=\"ub_table-of-contents-toggle-link\" href=\"#\" style=\"\">hide<\/a>]\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><div class=\"ub_table-of-contents-extra-container\" style=\"\">\n\t\t\t<div class=\"ub_table-of-contents-container ub_table-of-contents-1-column \">\n\t\t\t\t<ul style=\"\"><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-11-day-bull-micro-channel\/#0-market-overview-weekend-market-analysis\" style=\"\">Market Overview: Weekend Market Analysis<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-11-day-bull-micro-channel\/#1-eurusd-forex-market-\" style=\"\">EURUSD Forex market<\/a><ul><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-11-day-bull-micro-channel\/#2-the-eurusd-weekly-chart-has-strong-2-week-rally-in-9-month-trading-range\" style=\"\">The EURUSD weekly chart has strong 2-week rally in 9-month trading range<\/a><\/li><\/ul><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-11-day-bull-micro-channel\/#3-sampp500-emini-futures\" style=\"\">S&amp;P500 Emini futures<\/a><ul><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-11-day-bull-micro-channel\/#4-the-weekly-sampp500-emini-futures-chart-is-accelerating-up-to-top-of-channel\" style=\"\">The Weekly S&amp;P500 Emini futures chart is accelerating up to top of channel<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-11-day-bull-micro-channel\/#5-the-daily-sampp500-emini-futures-chart-is-in-extreme-buy-climax-\" style=\"\">The Daily S&amp;P500 Emini futures chart is in extreme buy climax<\/a><\/li><\/ul><\/li><\/ul>\n\t\t\t<\/div>\n\t\t<\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"0-market-overview-weekend-market-analysis\">Market Overview: Weekend Market Analysis<\/h2>\n\n\n\n<p>The <strong>SP500 Emini<\/strong> futures contract is in a parabolic wedge buy climax. There is also a streak of 11 bull days and an 11-day bull micro channel. This should attract profit taking within a couple weeks.<\/p>\n\n\n\n<p>The <strong>EURUSD <\/strong>Forex weekly chart is turning up from a wedge bull flag. However, the rally is probably just a bull leg in a 9-month trading range.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"1-eurusd-forex-market-\">EURUSD Forex market <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-the-eurusd-weekly-chart-has-strong-2-week-rally-in-9-month-trading-range\">The EURUSD <em>weekly<\/em> chart has strong 2-week rally in 9-month trading range<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-weekly-candlestick-chart-has-wedge-bottom-and-wedge-top.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-weekly-candlestick-chart-has-wedge-bottom-and-wedge-top-680x383.png\" alt=\"EURUSD Forex weekly candlestick chart has wedge bottom and wedge top\" class=\"wp-image-114846\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-weekly-candlestick-chart-has-wedge-bottom-and-wedge-top-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-weekly-candlestick-chart-has-wedge-bottom-and-wedge-top-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-weekly-candlestick-chart-has-wedge-bottom-and-wedge-top-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-weekly-candlestick-chart-has-wedge-bottom-and-wedge-top-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/EURUSD-Forex-weekly-candlestick-chart-has-wedge-bottom-and-wedge-top.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Big bull bar this week after wedge bottom 2 weeks ago.<\/li><li>There are 2 wedges on the weekly chart. Last year formed a yearlong wedge top. The selloff from that wedge top formed a 3-month wedge bottom. <\/li><li>Wedge reversals typically have at least 2 legs.<\/li><li>The 1<sup>st<\/sup> leg down from last year&#8217;s wedge top ended 2 weeks ago. That 1<sup>st<\/sup> leg down was a wedge bottom.<\/li><li>The 2-week rally is a pullback from the 1<sup>st<\/sup> leg down from last year&#8217;s wedge top. A 2<sup>nd<\/sup> leg sideways to down should begin within about a month. <\/li><li>The 2-week rally is also the 1<sup>st<\/sup> leg up from the 3-month wedge bottom.<\/li><li>The 2<sup>nd<\/sup> leg down from last year&#8217;s wedge top will probably be the pullback from the 1<sup>st<\/sup> leg up from the March wedge bottom. There should then be a 2<sup>nd<\/sup> leg up.<\/li><li>Since multiple reversals are likely, the trading range that began in August should continue for at least a couple more months.<\/li><li>40% chance that the 2-week rally is a resumption of last year&#8217;s bull trend, and there will not be a 2<sup>nd<\/sup> leg sideways to down, to the November 4 low from last year&#8217;s wedge top.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"3-sampp500-emini-futures\">S&amp;P500 Emini futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"4-the-weekly-sampp500-emini-futures-chart-is-accelerating-up-to-top-of-channel\">The <em>Weekly<\/em> S&amp;P500 Emini futures chart is accelerating up to top of channel<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-weekly-candlestick-chart-in-buy-climax-at-top-of-bull-channel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-weekly-candlestick-chart-in-buy-climax-at-top-of-bull-channel-680x383.png\" alt=\"Emini S&amp;P500 futures weekly candlestick chart in buy climax at top of bull channel\" class=\"wp-image-114847\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-weekly-candlestick-chart-in-buy-climax-at-top-of-bull-channel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-weekly-candlestick-chart-in-buy-climax-at-top-of-bull-channel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-weekly-candlestick-chart-in-buy-climax-at-top-of-bull-channel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-weekly-candlestick-chart-in-buy-climax-at-top-of-bull-channel-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-weekly-candlestick-chart-in-buy-climax-at-top-of-bull-channel.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Yearlong tight bull channel (Small Pullback Bull Trend), which is very strong bull trend.<\/li><li>3 consecutive bull bars closing near their highs, so accelerating up to top of bull channel.<\/li><li>Acceleration up late in a bull trend usually attracts profit takers.<\/li><li>This increases chance of a 2- to 3-week pullback beginning at any time.<\/li><li>First reversal down in Small Pullback Bull Trend is typically minor. That means 70% chance it would lead to a bull flag, or a trading range (like in September and October last year). Only a 30% chance that it would reverse abruptly down into a bear trend (the March 2020 bottom was an example of an abrupt reversal up without a 2<sup>nd<\/sup> leg down).<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"5-the-daily-sampp500-emini-futures-chart-is-in-extreme-buy-climax-\">The <em>Daily<\/em> S&amp;P500 Emini futures chart is in extreme buy climax <\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-daily-chart-accelerating-up-top-of-bull-channel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-daily-chart-accelerating-up-top-of-bull-channel-680x383.png\" alt=\"Emini SP500 futures daily chart accelerating up at top of 11-day bull micro channel.\" class=\"wp-image-114860\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-daily-chart-accelerating-up-top-of-bull-channel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-daily-chart-accelerating-up-top-of-bull-channel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-daily-chart-accelerating-up-top-of-bull-channel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-daily-chart-accelerating-up-top-of-bull-channel-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-daily-chart-accelerating-up-top-of-bull-channel.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>3 legs up in tight bull channel over past 3 weeks is a parabolic wedge buy climax, which usually attracts profit takers.<\/li><li>Streak of 11 consecutive bull trend days is unusual, and therefore climactic.<\/li><li>11-bar bull micro channel (every low above low of prior day) is unusual, and therefore climactic. <\/li><li>Climaxes attract profit takers because stop becomes far away, which increases risk. Easiest way to reduce risk is to reduce position size by taking some profits.<\/li><li>Climaxes can last much longer than what might seem reasonable. When the profit taking begins, it can be fast as bulls exit in a panic. It will probably begin in April.<\/li><li>For example, the buy climax in January 2018 lasted a month. There was a 10% correction over the next couple weeks. <\/li><li>The buy climax from the May 22, 2020 low lasted 12 days, and ended with a 9% correction one week later. <\/li><li>The September 2 buy climax lasted 10 days, and ended with a 10% correction over the next 3 weeks.<\/li><li>After all 3 reversals, the bull trend resumed. The bulls will buy the 1<sup>st<\/sup> 10% selloff this time as well.<\/li><li>Once the profit taking begins, there is a 50% chance there will be about a 10% pullback, and a 30% chance of a 20% pullback.<\/li><li>This buy climax is unusually extreme on the daily and weekly charts. At some point, the bulls will take some profits. <\/li><li>Since the buy climax is as extreme as it is, the Emini might go sideways for many months before the bulls will be willing to buy aggressively again. <\/li><li>Even if a reversal down is only about 10%, it might take many months for the Emini to make a new high. Consequently, the Emini might soon form the high for the year, or at least until late in the year.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"6-trading-room\">Trading Room<\/h2>\n\n\n\n<p>Traders can see the end of the day <a rel=\"noreferrer noopener\" href=\"http:\/\/www.brookspriceaction.com\/profile.php?mode=profil&amp;sub=profile_prefer&amp;mod=0\" target=\"_blank\">bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. I talk about the detailed Emini price action real-time throughout the day in the BrooksPriceAction.com <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\">trading room<\/a>. We offer a <a rel=\"noreferrer noopener\" href=\"http:\/\/www.brookspriceaction.com\/portal.php?page=11\" target=\"_blank\">2 day free trial<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"7-charts-use-pacific-time\">Charts use Pacific Time<\/h3>\n\n\n\n<p>When I mention time, it is USA Pacific Time (the Emini day session opens at 6:30 am PT, and closes at 1:15 pm PT). You can read background information on the intraday market reports on the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/market-update\/\" target=\"_blank\" class=\"rank-math-link\">Market Update<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Weekend Market Analysis The SP500 Emini futures contract is in a parabolic wedge buy climax. There is also a streak of 11 bull days and an 11-day bull micro channel. This should attract profit taking within a couple weeks. The EURUSD Forex weekly chart is turning up from a wedge bull flag. However, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":114847,"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":[136],"tags":[281,60],"class_list":{"0":"post-114542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"tag-eurusd-forex","9":"tag-sp-emini","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/04\/Emini-SP500-futures-weekly-candlestick-chart-in-buy-climax-at-top-of-bull-channel.png","author_info":{"display_name":"Al","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/albrooks\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/114542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=114542"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/114542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/114847"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=114542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=114542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=114542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}