{"id":155064,"date":"2022-07-01T06:20:00","date_gmt":"2022-07-01T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=155064"},"modified":"2022-07-02T21:32:58","modified_gmt":"2022-07-03T04:32:58","slug":"emini-bulls-likely-higher-low","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-bulls-likely-higher-low\/","title":{"rendered":"Emini bulls likely higher low and June 28 high test"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday July 1, 2022<\/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 was a small doji bar which is disappointing to the bears on the daily chart.<\/li><li>Emini bulls likely higher low favored with second leg up testing the June 28 high.<\/li><li>Bulls want a break above the June 28 high and test the 4,000 big round number.<\/li><li>Next, the bulls want a test of the June high, which is a major lower high. If the bulls can get a decent close above the June high, the daily chart would likely be in a bull trend or a trading range, not a bear trend.<\/li><li>The bears want the June 28 selloff to lead to a breakout below the June 17 low. They want the market to continue making lower highs and lows.<\/li><li>While the market is in a bear trend, the bulls are getting a lot of buying pressure which is a sign that the market is forming a trading range.<\/li><li>Also, the higher time frames, such as the monthly chart, have been in a bull trend for several years, and the 2022 selloff looks more like a pullback than the start of a trading range. In other words, bull trends (monthly chart) do not go immediately into bear trends; they form trading ranges and, even after that, usually go sideways. This means that the odds favor a rally on the monthly chart.<\/li><li>Overall, today may have a bull close as bears are more disappointed following the June 28 bear trend bar.<\/li><li>Today is Friday, so the weekly chart is important. This week is a big bear trend bar right now. The bulls want today to rally and create as big of a tail as possible.<\/li><li>The bulls will try to close above the midpoint of the week, around 3,852. Bears want the opposite and today to close around the week\u2019s low, creating a Low 1 short.<\/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 2 points in the overnight Globex session.<\/li><li>Odds favor a trading range price action open.<\/li><li>Since a limit order open is most likely, traders should be cautious on the open and consider waiting for 6-12 bars before placing a trade.<\/li><li>Trader can also wait for a credible stop entry or a strong breakout with follow-through breaking out from the opening range.<\/li><li>The most important thing to remember is most moves will reverse on the open, so traders need to be cautious. Generally, there is a 50% chance that the initial move will completely reverse.<\/li><li>Since the odds may slightly favor a dull day, traders will pay attention to buy setups if the market is below the open of the day and the day does not look like a strong bear trend.<\/li><li>Since today is Friday, traders need to be cautious about a surprise breakout late in the day as traders fight over the appearance of the weekly chart.<\/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\/2022\/06\/Emini-parabolic-wedge-bottom-at-end-of-quarter-and-short-covering-rally-with-exhaustive-buy-climax-and-blow-off-top.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-parabolic-wedge-bottom-at-end-of-quarter-and-short-covering-rally-with-exhaustive-buy-climax-and-blow-off-top-680x383.png\" alt=\"Emini parabolic wedge bottom at end of quarter and short covering rally with exhaustive buy climax and blow off top. Bulls likely higher low to follow.\" class=\"wp-image-155241\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-parabolic-wedge-bottom-at-end-of-quarter-and-short-covering-rally-with-exhaustive-buy-climax-and-blow-off-top-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-parabolic-wedge-bottom-at-end-of-quarter-and-short-covering-rally-with-exhaustive-buy-climax-and-blow-off-top-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-parabolic-wedge-bottom-at-end-of-quarter-and-short-covering-rally-with-exhaustive-buy-climax-and-blow-off-top-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-parabolic-wedge-bottom-at-end-of-quarter-and-short-covering-rally-with-exhaustive-buy-climax-and-blow-off-top-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-parabolic-wedge-bottom-at-end-of-quarter-and-short-covering-rally-with-exhaustive-buy-climax-and-blow-off-top.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 Daily Setups chart Encyclopedia members 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\/2022\/07\/Daily-Setups-Small-Pullback-Bull-Trend-Exhaustive-Buy-Climax.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Daily-Setups-Small-Pullback-Bull-Trend-Exhaustive-Buy-Climax-680x383.png\" alt=\"Daily Setups Chart - Small Pullback Bull Trend and Exhaustive Buy Climax\" class=\"wp-image-155269\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Daily-Setups-Small-Pullback-Bull-Trend-Exhaustive-Buy-Climax-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Daily-Setups-Small-Pullback-Bull-Trend-Exhaustive-Buy-Climax-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Daily-Setups-Small-Pullback-Bull-Trend-Exhaustive-Buy-Climax-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Daily-Setups-Small-Pullback-Bull-Trend-Exhaustive-Buy-Climax-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Daily-Setups-Small-Pullback-Bull-Trend-Exhaustive-Buy-Climax.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Al created the SP500 Emini charts.<\/em><\/p>\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\/2022\/07\/EURUSD-Daily-Bulls-Want-Strong-Entry-Bar-for-the-Double-Bottom.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Daily-Bulls-Want-Strong-Entry-Bar-for-the-Double-Bottom-680x383.jpg\" alt=\"EURUSD Daily Bulls Want Strong Entry Bar for the Double Bottom\" class=\"wp-image-155289\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Daily-Bulls-Want-Strong-Entry-Bar-for-the-Double-Bottom-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Daily-Bulls-Want-Strong-Entry-Bar-for-the-Double-Bottom-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Daily-Bulls-Want-Strong-Entry-Bar-for-the-Double-Bottom-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Daily-Bulls-Want-Strong-Entry-Bar-for-the-Double-Bottom-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/EURUSD-Daily-Bulls-Want-Strong-Entry-Bar-for-the-Double-Bottom.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The bulls got a strong reversal bar following the June 13 bear close test and the June 15 low.<\/li><li>Yesterday was also the third reversal up from the 2017 low since May, which increases the probability of the market getting a rally here.<\/li><li>Bulls see yesterday as a signal bar for a higher low double bottom major trend reversal with June 15.<\/li><li>The bulls hope that the market will break above the neckline (June 27 high) and get a measured move up to 1.0871, which is about the June high.<\/li><li>Bears want the opposite and a breakout below the 2017 low. While it is possible, even if the market does fall below the 2017 low, there will probably be buyers, and the market will create a failed breakout of a double bottom.<\/li><li>The bears can still argue the market is in a bear trend. The bulls need to get above the June major lower high, making the market either a trading range or a bull trend.<\/li><li>Overall, the bulls have an excellent-looking signal bar (June 30). The bulls need to trigger the buy and have a strong close today, creating a solid entry bar for the higher low double bottom. Bulls hope today will look like May 27, a bull trend bar closing on its high.<\/li><li>Today is Friday, so the weekly chart is important.<\/li><li>The bulls want the market to close above last week\u2019s low of 1.0469. Next, bulls would wish to close above the midpoint of the current week (1.0502).<\/li><li>The bears want the opposite of the bulls and for this week to close below last week\u2019s low and create as small a tail below this week\u2019s bar as possible.<\/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\/2022\/07\/Emini-parabolic-wedge-bottom-led-to-triangle-and-then-midday-bull-breakout-and-measured-move-up.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Emini-parabolic-wedge-bottom-led-to-triangle-and-then-midday-bull-breakout-and-measured-move-up-680x383.png\" alt=\"Emini parabolic wedge bottom led to triangle and then midday bull breakout and measured move up\" class=\"wp-image-155319\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Emini-parabolic-wedge-bottom-led-to-triangle-and-then-midday-bull-breakout-and-measured-move-up-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Emini-parabolic-wedge-bottom-led-to-triangle-and-then-midday-bull-breakout-and-measured-move-up-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Emini-parabolic-wedge-bottom-led-to-triangle-and-then-midday-bull-breakout-and-measured-move-up-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Emini-parabolic-wedge-bottom-led-to-triangle-and-then-midday-bull-breakout-and-measured-move-up-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Emini-parabolic-wedge-bottom-led-to-triangle-and-then-midday-bull-breakout-and-measured-move-up.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Al created the SP500 Emini charts.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">End of day summary<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Today was a triangle open that led to a midday bull breakout.<\/li><li>The day opened with a parabolic wedge top that led to a selloff in the form of a parabolic wedge bottom.<\/li><li>The market went sideways in a triangle (blue lines) until around 10:15 when the market had a failed bear breakout of the triangle, which followed a strong buy the close bull micro channel up to 10:45.<\/li><li>The 10:45 bull breakout was nine consecutive bull bars closing above the triangle\u2019s high. This increased the odds of a channel up and possible measured move up of the 9-bar bull breakout.<\/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 has-css-opacity\" \/>\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. Al talks about the detailed S&amp;P Emini futures price action real-time throughout the day in the BrooksPriceAction.com on <a href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\" rel=\"noreferrer noopener\">trading room<\/a> days. 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 has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Charts use Pacific Time<\/h3>\n\n\n\n<p>When times are mentioned, 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 has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Trading Update: Friday July 1, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a small doji bar which is disappointing to the bears on the daily chart. Emini bulls likely higher low favored with second leg up testing the June 28 high. Bulls want a break above the June 28 high and test [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":155269,"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":[153,136],"tags":[281,1395,60],"class_list":{"0":"post-155064","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-eurusd-forex","10":"tag-higher-low-major-trend-reversal","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Daily-Setups-Small-Pullback-Bull-Trend-Exhaustive-Buy-Climax.png","author_info":{"display_name":"Brad","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/brad-wolff\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/155064","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\/5460"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=155064"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/155064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/155269"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=155064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=155064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=155064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}