{"id":118231,"date":"2021-07-12T06:20:00","date_gmt":"2021-07-12T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=118231"},"modified":"2021-07-12T13:41:31","modified_gmt":"2021-07-12T20:41:31","slug":"emini-bull-streaks","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/market-update\/emini-bull-streaks\/","title":{"rendered":"Emini lower probability new high after July bull streaks"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Monday July 12, 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>Strong bull trend and bull streaks. Friday made another new all-time high.<\/li><li>Magnets above are measured move target at 4,404 and top of bull channel around 4,500.<\/li><li>Streaks on daily and 60-minute charts ended last week. They increase the chance of exhausted bulls and sideways trading over next week or two. This reduces chance of big move up this week.<\/li><li>If reversal down today or tomorrow, then expanding triangle top that began with July 2 high. Easier to see on 60-minute chart. <\/li><li>Even if reverses down, odds still favor minor reversal, like all of the other reversals over the past year.<\/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 3 points in the overnight Globex session.<\/li><li>Friday was a buy climax day so 75% chance of at least a couple hours of sideways to down trading today that starts by the end of the 2<sup>nd<\/sup> hour.<\/li><li>Magnet below is bottom of most recent buy climax, which is the tight bull channel that began midday Friday at 4351.25.<\/li><li>Magnet above is Friday&#8217;s all-time high and then the 4404 measured move target.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">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-1.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-1-680x383.png\" alt=\"Emini Small pullback bull trend from the open. Emini bull streaks likely ending.\" class=\"wp-image-118399\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-pullback-bull-trend-from-the-open-1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-pullback-bull-trend-from-the-open-1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-pullback-bull-trend-from-the-open-1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-pullback-bull-trend-from-the-open-1-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-Small-pullback-bull-trend-from-the-open-1.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. 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-small-wedge-bottom.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-small-wedge-bottom-680x383.png\" alt=\"\" class=\"wp-image-118538\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-small-wedge-bottom-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-small-wedge-bottom-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-small-wedge-bottom-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-small-wedge-bottom-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-small-wedge-bottom.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Reversing up from wedge bottom near bottom of yearlong trading range. <\/li><li>Should test June 25 lower high, but might get one more leg down first.<\/li><li>Probably buyers below July 7 low. If breakout below that low, should reverse up again and form a bigger wedge bottom.<\/li><li>Today is reversing down from small double top with July 7 high.<\/li><li>The small wedge bottom should lead to at least a small 2<sup>nd<\/sup> leg sideways to up so probably only 1 &#8211; 2 day pullback.<\/li><li>Traders are deciding if the rally to the June 25 high has begun or if there will be a brief selloff to below the July 7 low before the reversal up.<\/li><li>Might form small triangle starting with July 7 high before deciding.<\/li><li>Nothing is clear in a trading range, so when nothing is clear (clear means high probability), the market is probably in a trading range. This range began June 18. <\/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\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-from-the-open-and-then-bull-trend-resumption-680x383.png\" alt=\"Emini bull trend from the open and then bull trend resumption\" class=\"wp-image-118554\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-from-the-open-and-then-bull-trend-resumption-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-from-the-open-and-then-bull-trend-resumption-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-from-the-open-and-then-bull-trend-resumption-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-from-the-open-and-then-bull-trend-resumption-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-bull-trend-from-the-open-and-then-bull-trend-resumption.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/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>Weak Bull Trend From The Open, which broke to new all-time high but evolved into trading range.<\/li><li>Bulls got a little trend resumption up at end of day.<\/li><li>Still strongly bullish on daily, weekly, and monthly charts, so probably limited downside for at least another week.<\/li><li>July should close below open of month since 6 consecutive bull bars would be unusual on the monthly chart.<\/li><li>With July likely to close below open of month and after 11-day micro channel (buy climax) ended last week, probably limited upside for remainder of month.<\/li><li>Since probably will not go far up or down for at least a week, traders should expect the bull trend to evolve into a trading range.<\/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: Monday July 12, 2021 Emini pre-open market analysis Emini daily chart Strong bull trend and bull streaks. Friday made another new all-time high. Magnets above are measured move target at 4,404 and top of bull channel around 4,500. Streaks on daily and 60-minute charts ended last week. They increase the chance of exhausted [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":118538,"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],"class_list":{"0":"post-118231","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":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-small-wedge-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\/118231","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=118231"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/118231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/118538"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=118231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=118231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=118231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}