{"id":123137,"date":"2021-10-13T06:20:00","date_gmt":"2021-10-13T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=123137"},"modified":"2021-10-13T21:16:19","modified_gmt":"2021-10-14T04:16:19","slug":"emini-october-trading-range","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/market-update\/emini-october-trading-range\/","title":{"rendered":"Emini in middle of September\/October trading range"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday October 13, 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>Trading range since September 20 low. There is a lower low double bottom (September 20\/October 4) and a lower high double top (September 23\/October 7). In middle of September\/October trading range.<\/li><li>Breakout Mode, which means 50% chance of successful bull breakout and 50% chance of successful bear breakout.<\/li><li>Because of weekly and monthly chart buy climaxes, there is currently a 50% chance that the Emini began a 15% correction with the September 2 high.<\/li><li>3-day selloff to middle of trading range. <\/li><li>Bulls see the selloff as a double bottom pullback (a pullback from the reversal up from the double bottom), but they need a reversal up this week.<\/li><li>Bears see the selloff as a reversal down from the double top, but they need more bear bars.<\/li><li>October 7 high did not quite reach 50-day MA. In a trading range, legs usually reach important support and resistance. Many traders do not believe the 50-day MA was adequately tested. Emini might have to reach it before the bears will consider selling aggressively.<\/li><li>3 days down in a trading range is becoming excessive. This increases the chance of a reversal up today or tomorrow, and it reduces the chance of another strong bear day today.<\/li><li>If instead the Emini continues to sell off, especially with big bear days closing on their lows, the odds of a successful breakout below the double bottom will go up. <\/li><li>At the moment, the market is neutral while traders decide on the direction of the next big move.<\/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 3 points in the overnight Globex session.<\/li><li>Yesterday&#8217;s early trading range was an area of agreement. Since it was late in a bear trend, it will probably be the Final Bear Flag. Today might get stuck there for several hours.<\/li><li>That trading range is also just below the magnet of the 60-minute EMA.<\/li><li>While it is possible for today to be a 4<sup>th<\/sup> big bear day, that is unlikely since the market is in a month-long trading range. Four consecutive days strongly in one direction would be unusual. <\/li><li>Therefore, today will probably be sideways to up, or only slightly down. Traders will be more willing to buy reversals up from selloffs.<\/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\/10\/Emini-trading-range-and-trianle-with-late-bear-breakout.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-trading-range-and-trianle-with-late-bear-breakout-680x383.png\" alt=\"Emini trading range and triangle with late bear breakout. In middle of September \/ October trading range.\" class=\"wp-image-123204\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-trading-range-and-trianle-with-late-bear-breakout-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-trading-range-and-trianle-with-late-bear-breakout-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-trading-range-and-trianle-with-late-bear-breakout-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-trading-range-and-trianle-with-late-bear-breakout-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-trading-range-and-trianle-with-late-bear-breakout.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\/10\/EURUSD-Forex-micro-wedge-in-tight-bear-channel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Forex-micro-wedge-in-tight-bear-channel-680x383.png\" alt=\"EURUSD Forex micro wedge in tight bear channel\" class=\"wp-image-123225\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Forex-micro-wedge-in-tight-bear-channel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Forex-micro-wedge-in-tight-bear-channel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Forex-micro-wedge-in-tight-bear-channel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Forex-micro-wedge-in-tight-bear-channel-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Forex-micro-wedge-in-tight-bear-channel.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Today so far is a bull inside day after consecutive bear days in a 6-week tight bear channel.<\/li><li>There is now a micro wedge with the September 20 and October 6 lows. The 1<sup>st<\/sup> reversal up in a tight bear channel is typically minor. <\/li><li>However, the daily chart is oversold and almost at important targets below. That increases the chance of a reversal up to above the August 20 low at any time.<\/li><li>I have been saying that the EURUSD probably will have to dip below the March 9, 2020 high because that was last year&#8217;s breakout point. <\/li><li>The EURUSD has been in a trading range for 7 years. When in a trading range, a market typically falls below support before rallying. <\/li><li>The June 10, 2020 high of 1.422 is also a breakout point and a magnet below. Additionally, it is at a measured move down from the July 30\/September 3 double top. Since there are 2 reasons to get there and the momentum down is strong, the EURUSD will probably test it as well.<\/li><li>When a market reaches a measured move below a double top bear flag, profit takers typically come in. There will probably be at least a 2-week rally from the breakout points at around 1.15 or 1.14.<\/li><li>It is important to note that this week so far is the 6<sup>th<\/sup> consecutive bear bar on the weekly chart. A streak of that duration has not happened in 3 years. There have not been 7 consecutive bear bars since 2014. Therefore, the weekly chart should have a bull body either this week or next week. <\/li><li>If it comes after dipping below the March 9, 2020 breakout point, it could be the start of a rally over then following few weeks.<\/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\/10\/Emini-parabolic-wedge-sell-climax-and-bull-trend-reversal.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-parabolic-wedge-sell-climax-and-bull-trend-reversal-680x383.png\" alt=\"Emini parabolic wedge sell climax and bull trend reversal\" class=\"wp-image-123237\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-parabolic-wedge-sell-climax-and-bull-trend-reversal-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-parabolic-wedge-sell-climax-and-bull-trend-reversal-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-parabolic-wedge-sell-climax-and-bull-trend-reversal-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-parabolic-wedge-sell-climax-and-bull-trend-reversal-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-parabolic-wedge-sell-climax-and-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 sell climax on the open. Usually results in either trading range, or a bull trend reversal and a test of the high of the open, like today.<\/li><li>When bull trend reversal, like today, usually will have hard time getting far above earlier high.<\/li><li>Today is High 2 buy signal bar on daily chart, but a bull doji bar after 3 bear days, so might have to go sideways for a few days.<\/li><li>I have been saying that last Thursday&#8217;s high did not quite reach the 50-day MA and that many traders therefore believe the MA was not adequately tested. It is an important magnet above.<\/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 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 <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 October 13, 2021 Emini pre-open market analysis Emini daily chart Trading range since September 20 low. There is a lower low double bottom (September 20\/October 4) and a lower high double top (September 23\/October 7). In middle of September\/October trading range. Breakout Mode, which means 50% chance of successful bull breakout and [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":123204,"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-123137","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\/10\/Emini-trading-range-and-trianle-with-late-bear-breakout.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\/123137","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=123137"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/123137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/123204"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=123137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=123137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=123137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}