{"id":117813,"date":"2021-07-06T06:20:00","date_gmt":"2021-07-06T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=117813"},"modified":"2021-07-06T21:00:52","modified_gmt":"2021-07-07T04:00:52","slug":"emini-11-bar-bull-micro-channel","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/market-update\/emini-11-bar-bull-micro-channel\/","title":{"rendered":"Emini with 11-bar bull micro channel in early July"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday July 6, 2021<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">Emini pre-open 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\"><li>11-bar bull micro channel (every low at or above low of prior day).<\/li><li>60-minute chart has 69 bars above EMA so buy climax.<\/li><li>Both are unusual and therefore unsustainable and buy climaxes.<\/li><li>Should get a pullback this week.<\/li><li>Since strong bull trend, bulls will buy the 1<sup>st<\/sup> pullback.<\/li><li>But, resumption up from 1<sup>st<\/sup> pullback in buy climax usually does not get far before the market enters a trading range.<\/li><li>Therefore, higher prices likely, but will probably convert into a trading range at some point in July.<\/li><\/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\"><li>Emini is down 2 points in the overnight Globex session.<\/li><li>Because of the streaks on the daily and 60-minute charts, should get pullback today or tomorrow.<\/li><li>The pullback could be a big bear trend day, or the Emini might just go slightly down for a couple days. However, the odds are against a 3<sup>rd<\/sup> consecutive big bull trend day.<\/li><li>5-minute and daily charts might contain Monday&#8217;s trading for the 1st couple hours today. However, if you then refresh your data, those bars usually will disappear.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Last 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\/2021\/07\/Emini-Small-Pullback-bull-trend-from-the-open.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-Pullback-bull-trend-from-the-open-680x383.png\" alt=\"Emini Small Pullback bull trend from the open. 11-bar bull micro channel.\" class=\"wp-image-117987\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-Pullback-bull-trend-from-the-open-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-Pullback-bull-trend-from-the-open-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-Pullback-bull-trend-from-the-open-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-Pullback-bull-trend-from-the-open-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-Pullback-bull-trend-from-the-open.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><figcaption>Above is the version that I post every day. Because I often get questions about what subscribers to Daily Setups see, today I am including the example below of that version.<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Daily-Setups-Chart-Friday-210702.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Daily-Setups-Chart-Friday-210702-680x383.png\" alt=\"\" class=\"wp-image-118239\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Daily-Setups-Chart-Friday-210702-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Daily-Setups-Chart-Friday-210702-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Daily-Setups-Chart-Friday-210702-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Daily-Setups-Chart-Friday-210702-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Daily-Setups-Chart-Friday-210702.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p class=\"caption\">Here are several reasonable stop entry setups from Friday (before US holiday weekend). 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).<\/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.&nbsp;<\/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.&nbsp;<\/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\">EURUSD Forex market trading strategies<\/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 is-style-default\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-trend-resumption-but-trading-range-soon.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-trend-resumption-but-trading-range-soon-680x383.png\" alt=\"\" class=\"wp-image-118245\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-trend-resumption-but-trading-range-soon-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-trend-resumption-but-trading-range-soon-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-trend-resumption-but-trading-range-soon-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-trend-resumption-but-trading-range-soon-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-trend-resumption-but-trading-range-soon.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Last week formed a micro wedge bottom, and a lower low double bottom with the June 18 low.<\/li><li>Near bottom of yearlong trading range so bounce likely soon.<\/li><li>Friday was reversal bar, and it had a bull body. Should bounce this week.<\/li><li>6-day bear micro channel with 4 consecutive bear bars so bad context for major reversal up. More likely the best the bulls will get is a bounce for a few days.<\/li><li>Traders might need few sideways days to decide if Friday&#8217;s reversal will lead to a minor reversal up or just a 1- to 3-day pullback in the bear trend.<\/li><li>The more today closes near its low, the more likely the EURUSD will test below Friday&#8217;s low. <\/li><li>The more today closes in the middle of its range, the more likely the EURUSD will be sideways to up for a few days.<\/li><li>Today so far is a bear reversal day. It rallied above Friday&#8217;s high and then reversed down. It is currently near the low of the day.<\/li><li>Bears want last week&#8217;s selloff to continue down to March 31 low. But since selloff has been weak, probably will bounce here or soon.<\/li><li>Unless strong break above June 25 lower high, odds favor a test of the March 31 low in July. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Summary of today&#8217;s S&amp;P Emini futures price action and what to expect tomorrow<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Midday-bull-trend-reversal.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Midday-bull-trend-reversal-680x383.png\" alt=\"Midday bull trend reversal\" class=\"wp-image-118275\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Midday-bull-trend-reversal-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Midday-bull-trend-reversal-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Midday-bull-trend-reversal-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Midday-bull-trend-reversal-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Midday-bull-trend-reversal.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">End of day summary<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Sold off in a Bear Trend From The Open with a series of sell climaxes.<\/li><li>Fell below Friday&#8217;s low, ending the bull micro channel.<\/li><li>Midday bull trend reversed up from a lower low major trend reversal just below 60-minute EMA. <\/li><li>Closed in upper half of day&#8217;s range, increasing chance of more sideways to up tomorrow.<\/li><li>Since 60-minute chart has 20-Gap Bar buy signal, should test Friday&#8217;s all-time high by end of week.<\/li><li>Since buy climaxes on daily and 60-minute charts were unusually extreme, might be sideways for a week.<\/li><li>Might test June 16 breakout point, but probably minor reversal down. Bulls will buy 1- to 3-day pullback.<\/li><\/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\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Trading Room<\/h2>\n\n\n\n<p>Traders can see the end of the day <a href=\"http:\/\/www.brookspriceaction.com\/profile.php?mode=profil&amp;sub=profile_prefer&amp;mod=0\" target=\"_blank\" rel=\"noreferrer noopener\">bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. I talk about the detailed S&amp;P Emini futures price action real-time throughout the day in the BrooksPriceAction.com <a href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\" rel=\"noreferrer noopener\">trading room<\/a>. 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\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">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. I end the chart 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\"\/>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trading Update: Tuesday July 6, 2021 Emini pre-open market analysis Emini daily chart 11-bar bull micro channel (every low at or above low of prior day). 60-minute chart has 69 bars above EMA so buy climax. Both are unusual and therefore unsustainable and buy climaxes. Should get a pullback this week. Since strong bull trend, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":118245,"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],"tags":[281,347,60],"class_list":{"0":"post-117813","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"tag-eurusd-forex","9":"tag-micro-channel","10":"tag-sp-emini","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-trend-resumption-but-trading-range-soon.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\/117813","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=117813"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/117813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/118245"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=117813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=117813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=117813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}