{"id":162905,"date":"2022-10-19T06:20:00","date_gmt":"2022-10-19T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=162905"},"modified":"2022-10-19T20:51:37","modified_gmt":"2022-10-20T03:51:37","slug":"emini-bulls-poor-follow-through-2","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-bulls-poor-follow-through-2\/","title":{"rendered":"Emini bulls poor follow-through from October 13 breakout"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday October 19, 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>The bulls gapped up yesterday, and the market sold off from the opening session and closed around its midpoint. But bulls poor follow-through, and a disappointing bar being a reminder that the market is still in a trading range environment.<\/li><li>The bears see yesterday\u2019s gap as the second leg from the October 13 breakout and a test of the October 5 high.<\/li><li>The bears want yesterday to be a signal bar for the double top (October 5) and for the market to break below the neckline (October 13) and fall for a measured move below the 2020 Pre-Pandemic high.<\/li><li>The probable with the above argument for the bears is that the market is already down 22% on the year and may not fall much further. Also, the measured move from the October 5 high to the October 13 low would take you more than 100 points below the 2020 Pre-Pandemic high. If the market falls below the Pre-Pandemic high, there will likely be value bulls buying aggressively, limiting the downside.<\/li><li>More likely, the daily chart is in a trading range, and the odds favor more sideways price action.<\/li><li>Overall, the odds favor higher prices and a test of the 4,000 big round number over the next couple of months. Even if the market falls to a new low below October 13, the odds will still favor a failed breakout and a test of the 4,000 big round number.<\/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 37 points in the overnight Globex session.<\/li><li>The overnight Globex session has been in a bear trend. However, there have been strong moments of buying pressure which increases the odds of this being a bear leg in what will become a trading range more likely than a continued bear trend.<\/li><li>At the moment, the bears are trying to break below yesterday\u2019s session low, and the bears might be successful.<\/li><li>While the selloff in the Globex session looks like a leg in a trading range, the channel down is tight and has open gaps (1:30 AM PT low and 5:15 AM PT high). Traders have to be cautious because that gap can lead to a measured move down.<\/li><li>As always, on the open, traders should be cautious and not be too eager to trade. The open has frequent reversals, so traders should consider waiting for 6-12 bars to avoid getting trapped on the wrong side of the market.<\/li><li>Traders can also wait for a credible double top\/bottom or wedge top\/bottom before looking for a good swing trade.<\/li><li>Lastly, traders should be open to some opening reversal days. This is because the market does not typically trend from the available days in a row, which increases the odds of a trading range lasting all day or most of the day.<\/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\/10\/Emini-bear-trend-from-the-open-and-then-trading-range-after-consecutive-parabolic-wedges-down-to-a-measured-move.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bear-trend-from-the-open-and-then-trading-range-after-consecutive-parabolic-wedges-down-to-a-measured-move-680x383.png\" alt=\"Emini bear trend from the open and then trading range after consecutive parabolic wedges down to a measured move. Bulls poor follow-through from Oct 13 breakout.\" class=\"wp-image-163008\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bear-trend-from-the-open-and-then-trading-range-after-consecutive-parabolic-wedges-down-to-a-measured-move-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bear-trend-from-the-open-and-then-trading-range-after-consecutive-parabolic-wedges-down-to-a-measured-move-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bear-trend-from-the-open-and-then-trading-range-after-consecutive-parabolic-wedges-down-to-a-measured-move-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bear-trend-from-the-open-and-then-trading-range-after-consecutive-parabolic-wedges-down-to-a-measured-move-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bear-trend-from-the-open-and-then-trading-range-after-consecutive-parabolic-wedges-down-to-a-measured-move.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\/10\/EURUSD-Daily-Triangle-Breakout-Mode.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Daily-Triangle-Breakout-Mode-680x383.jpg\" alt=\"EURUSD Daily: Triangle, Breakout Mode\" class=\"wp-image-163030\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Daily-Triangle-Breakout-Mode-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Daily-Triangle-Breakout-Mode-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Daily-Triangle-Breakout-Mode-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Daily-Triangle-Breakout-Mode-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/EURUSD-Daily-Triangle-Breakout-Mode.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The bulls are continuing to be disappointed with every rally.<\/li><li>Right now, the market is forming a triangle over the past month.<\/li><li>The bulls need to get above a credible major lower high (September high) to convince traders that the market is no longer in a bear trend.<\/li><li>Right now, the market is clearly in a trading range, and the bulls are starting to get multiple closes above the moving average, which is a sign of strength.<\/li><li>The bears are trying hard to get a second leg down from the 5-bar bear micro channel that began on October 10.<\/li><li>The odds still favor a second leg up and a test of the October 4 close due to trapped buy-the-close bulls. Some of the bulls who bought the October 4 close scaled in lower and used the past couple of trading days to exit breakeven on the entire trade, which is partly why the market is selling off today.<\/li><li>Overall, the market is still in a trading range, and until one side gets a clear breakout, the probability is close to neutral but slightly favors the bulls.<\/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\/10\/Emini-bull-and-bear-traps-on-the-open-with-higher-high-double-top-buy-climax-and-parabolic-wedge-sell-climax-and-midday-bull-trend-reversal.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bull-and-bear-traps-on-the-open-with-higher-high-double-top-buy-climax-and-parabolic-wedge-sell-climax-and-midday-bull-trend-reversal-680x383.png\" alt=\"Emini bull and bear traps on the open with higher high double top buy climax and parabolic wedge sell climax and midday bull trend reversal\" class=\"wp-image-163055\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bull-and-bear-traps-on-the-open-with-higher-high-double-top-buy-climax-and-parabolic-wedge-sell-climax-and-midday-bull-trend-reversal-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bull-and-bear-traps-on-the-open-with-higher-high-double-top-buy-climax-and-parabolic-wedge-sell-climax-and-midday-bull-trend-reversal-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bull-and-bear-traps-on-the-open-with-higher-high-double-top-buy-climax-and-parabolic-wedge-sell-climax-and-midday-bull-trend-reversal-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bull-and-bear-traps-on-the-open-with-higher-high-double-top-buy-climax-and-parabolic-wedge-sell-climax-and-midday-bull-trend-reversal-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bull-and-bear-traps-on-the-open-with-higher-high-double-top-buy-climax-and-parabolic-wedge-sell-climax-and-midday-bull-trend-reversal.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 review<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Video update will be release soon. <\/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: Wednesday October 19, 2022 Emini pre-open market analysis Emini daily chart The bulls gapped up yesterday, and the market sold off from the opening session and closed around its midpoint. But bulls poor follow-through, and a disappointing bar being a reminder that the market is still in a trading range environment. The bears [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":163008,"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":[281,60],"class_list":{"0":"post-162905","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-sp-emini","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/10\/Emini-bear-trend-from-the-open-and-then-trading-range-after-consecutive-parabolic-wedges-down-to-a-measured-move.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\/162905","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=162905"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/162905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/163008"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=162905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=162905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=162905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}