{"id":118227,"date":"2021-07-07T06:20:00","date_gmt":"2021-07-07T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=118227"},"modified":"2021-07-07T20:13:45","modified_gmt":"2021-07-08T03:13:45","slug":"emini-bull-streak","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/market-update\/emini-bull-streak\/","title":{"rendered":"Emini bull streak evolving into trading range"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday July 7, 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>Yesterday&#8217;s low was below Thursday&#8217;s low so daily chart finally had a pullback after 11-day bull micro channel.<\/li><li>Pulled back below 60-minute 20-bar EMA for 1<sup>st<\/sup> time in 70 bars so that Emini bull streak  ended as well.<\/li><li>Traders were willing to pay an above average price and now finally could buy at the average price. That reduces the downside today.<\/li><li>Buy climax usually leads to trading range therefore trend reversal down unlikely on daily chart. <\/li><li>Since buy climax was extreme, might have to go sideways for several days, especially with yesterday closing in the middle of the range.<\/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 up 5 points in the overnight Globex session.<\/li><li>Big Up Friday, Big Down and Up yesterday creates confusion and increase chance of trading range for a few days.<\/li><li>60-minute 20-Gap Bar buy signal created yesterday&#8217;s rally. Traders expected test of Friday&#8217;s high. Yesterday&#8217;s rally met the minimum expectation.<\/li><li>Extreme buy climaxes on daily and 60-minute charts so probably limited upside over next couple weeks, but should make at least one more new high.<\/li><li>Trading range likely so increased chance of at least one reversal every day for several days. <\/li><\/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\/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. Emini bull streak ending possibly.\" 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<p class=\"caption\">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).<\/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\">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\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-leg-in-trading-range-forming-double-bottom.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-leg-in-trading-range-forming-double-bottom-680x383.png\" alt=\"EURUSD Forex bear leg in trading range forming double bottom\" class=\"wp-image-118299\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-leg-in-trading-range-forming-double-bottom-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-leg-in-trading-range-forming-double-bottom-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-leg-in-trading-range-forming-double-bottom-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-leg-in-trading-range-forming-double-bottom-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-leg-in-trading-range-forming-double-bottom.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Yesterday was big outside down day, but it only broke below the June 2 low by 1 pip.<\/li><li>Today is the follow-through day after yesterday&#8217;s small breakout. So far, today is a bull inside day, which is weak follow-through. <\/li><li>The bears need a close below the July 2 low to increase the chance of the selloff testing the March 31 low.<\/li><li>If today has a bull body and closes near its high, it would increase the chance of a reversal up from a micro double bottom with the July 2 low and a lower low major trend reversal with the June 18 low. <\/li><li>The bulls need a big bull bar closing near its high for traders to expect a reversal up.<\/li><li>If falls below Friday&#8217;s low for a few days and reverses up, then wedge bottom with June 18 low and Friday&#8217;s low. That could lead to a 2-week bounce.<\/li><li>Since many bars with tails for 3 weeks and near bottom of yearlong trading range, should bounce and test June 25 high soon, but might have test March 31 low first. <\/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\/Emini-bull-trend-reversal-from-parabolic-wedge-sell-climax-at-60-minute-EMA.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-reversal-from-parabolic-wedge-sell-climax-at-60-minute-EMA-680x383.png\" alt=\"\" class=\"wp-image-118314\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-reversal-from-parabolic-wedge-sell-climax-at-60-minute-EMA-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-reversal-from-parabolic-wedge-sell-climax-at-60-minute-EMA-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-reversal-from-parabolic-wedge-sell-climax-at-60-minute-EMA-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-reversal-from-parabolic-wedge-sell-climax-at-60-minute-EMA-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-reversal-from-parabolic-wedge-sell-climax-at-60-minute-EMA.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>Reversed down from a new high on the open, but reversed back up from a parabolic wedge sell climax at the 60-minute EMA, which was support yesterday.<\/li><li>Rallied back to the high, but entered a trading range for the rest of the day. Because the day closed near its high and the reversal up from the 60-minute MEA was strong yesterday and today, traders expect at least slightly higher prices.<\/li><li>But after yesterday&#8217;s pullback in an 11-bar bull micro channel, the bulls are probably unwilling to buy aggressively without a week or two of sideways trading.<\/li><li>Traders expect higher prices, but not much higher over the next couple weeks.<\/li><li>Targets above are the top of the bull channel on the daily chart, which is around 4,500, and a measured move up to 4,404 based on the 3-month trading range.<\/li><li>The bears can get a reversal at any time, but bulls will continue to buy every 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, and closes 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","protected":false},"excerpt":{"rendered":"<p>Trading Update: Wednesday July 7, 2021 Emini pre-open market analysis Emini daily chart Yesterday&#8217;s low was below Thursday&#8217;s low so daily chart finally had a pullback after 11-day bull micro channel. Pulled back below 60-minute 20-bar EMA for 1st time in 70 bars so that Emini bull streak ended as well. Traders were willing to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":118299,"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":[281,60,84],"class_list":{"0":"post-118227","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-sp-emini","10":"tag-trading-range","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-bear-leg-in-trading-range-forming-double-bottom.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\/118227","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=118227"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/118227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/118299"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=118227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=118227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=118227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}