{"id":164143,"date":"2022-11-08T06:20:00","date_gmt":"2022-11-08T14:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=164143"},"modified":"2022-11-10T02:14:25","modified_gmt":"2022-11-10T10:14:25","slug":"emini-bulls-disappointment-soon","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-bulls-disappointment-soon\/","title":{"rendered":"Emini Bulls Disappointment Likely Soon"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday November 8, 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 market is trying to reverse the November 2 surprise bear breakout. However, the odds still favor a second leg down, which means Emini bulls disappointment likely soon.<\/li><li>The market is in a trading range, so the pullback could be deep and test the November 1 low before the bears get their second leg down.<\/li><li>Some bulls got trapped on the November 2 downside breakout, and they are deciding how disappointed they are.<\/li><li>While the market may test the November 1 high before a second leg is down, it is unlikely.<\/li><li>The market formed a wedge top with the rally ending on November 1, so the odds favor a second leg down.<\/li><li>The bears hope that the second leg down will be significant and further trap the bulls into losing positions. If this happens, more bears will agree that November 1 is a double top with the September 21 high. Those bears want a breakout below the October 13 neckline and a measured move down.<\/li><li>More likely, the second leg down will be brief, and the market will continue sideways. Ultimately, the odds favor a rally testing the 4,000 big round number. This is because it has been a strong magnet all year and will likely continue to be necessary.<\/li><li>Traders should be mindful that the market may have to reach the October 21 low and form a double bottom higher low major trend reversal before the bulls can get a rally testing the 4,000 considerable 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 up 15 points in the overnight Globex session.<\/li><li>The Globex market has been in a trading range for most of the overnight\/morning session.<\/li><li>The market will likely have a lot of trading range price action on the open and possibly all day.<\/li><li>The market was right around a 50% pullback (3,815 area) of the three-day selloff last week. This will be an area of resistance, and traders should be mindful of the possibility of sellers and a start of a second leg down. This increases the risk of bulls becoming disappointed today.<\/li><li>As always, traders should expect a lot of limit order trading on the open and not be in a rush to trade. Most traders should generally wait for 6-12 bars before placing a trade to avoid being burned by multiple reversals.<\/li><li>A trader can also consider waiting for a stop entry that forms after a double top\/bottom or a wedge top\/bottom.<\/li><li>Lastly, as Al often says, traders must trade the chart in front of them, not what they hope will happen.<\/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\/11\/Emini-trading-range-open-with-failed-bull-and-bear-breakouts-of-triangle-and-then-midday-breakout-into-bull-trend-after-buying-prressure.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Emini-trading-range-open-with-failed-bull-and-bear-breakouts-of-triangle-and-then-midday-breakout-into-bull-trend-after-buying-prressure-680x383.png\" alt=\"Emini trading range open with failed bull and bear breakouts of triangle and then midday breakout. But Emini bulls Disappointment likely soon.\" class=\"wp-image-164192\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Emini-trading-range-open-with-failed-bull-and-bear-breakouts-of-triangle-and-then-midday-breakout-into-bull-trend-after-buying-prressure-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Emini-trading-range-open-with-failed-bull-and-bear-breakouts-of-triangle-and-then-midday-breakout-into-bull-trend-after-buying-prressure-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Emini-trading-range-open-with-failed-bull-and-bear-breakouts-of-triangle-and-then-midday-breakout-into-bull-trend-after-buying-prressure-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Emini-trading-range-open-with-failed-bull-and-bear-breakouts-of-triangle-and-then-midday-breakout-into-bull-trend-after-buying-prressure-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Emini-trading-range-open-with-failed-bull-and-bear-breakouts-of-triangle-and-then-midday-breakout-into-bull-trend-after-buying-prressure.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\/11\/EURUSD-Daily-Bulls-Want-Double-Bottom-Measured-Move-Up.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Bulls-Want-Double-Bottom-Measured-Move-Up-680x383.jpg\" alt=\"EURUSD Daily Bulls Want Double Bottom, Measured Move Up\" class=\"wp-image-164223\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Bulls-Want-Double-Bottom-Measured-Move-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Bulls-Want-Double-Bottom-Measured-Move-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Bulls-Want-Double-Bottom-Measured-Move-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Bulls-Want-Double-Bottom-Measured-Move-Up-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/EURUSD-Daily-Bulls-Want-Double-Bottom-Measured-Move-Up.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The bulls have created a strong rally over the past two trading days. The two-bar bull breakout is strong enough to expect a second leg up, so traders will likely buy the first pullback.<\/li><li>The bears want to create a strong reversal bar today or tomorrow and trap the eager bulls betting on the breakout. They want the breakout to form a double top with October 27, break below the November 3 neckline of the double top, and go down for a measured move.<\/li><li>The bulls want the opposite and a breakout above the October 26 high and rally for a measured move up, testing the August high.<\/li><li>Overall, the odds favor a rally lasting at least a few months. The bears have had a bear channel on the daily chart for over a year and a half. Bear channels typically convert into trading ranges, which means a rally lasting several bars, and a couple of legs will be needed at a minimum to convert the market into a trading range.<\/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\/11\/Daily-Setups-Bear-Trap-Rally-Then-LH-MTR-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Daily-Setups-Bear-Trap-Rally-Then-LH-MTR-1-680x383.png\" alt=\"Emini bear trap led to small pullback bull trend with nested parabolic wedge top and lower high major trend reversal and spike and channel bear trend\" class=\"wp-image-164273\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Daily-Setups-Bear-Trap-Rally-Then-LH-MTR-1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Daily-Setups-Bear-Trap-Rally-Then-LH-MTR-1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Daily-Setups-Bear-Trap-Rally-Then-LH-MTR-1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Daily-Setups-Bear-Trap-Rally-Then-LH-MTR-1-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/11\/Daily-Setups-Bear-Trap-Rally-Then-LH-MTR-1.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>Today was a bull trend from the open that led to a lower high major trend reversal. <\/li><li>The market formed a lower high major trend reversal following the parabolic wedge top.<\/li><li>The sell-off was strong following lower high major trend reveals. However the sell-off was so climactic which increased the odds of the reversal at the open of day. <\/li><li>The opening rally was also big, which reduced the odds of the bears collapsing far below the opening range. <\/li><li>End-of-day video to follow soon. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">End of day video review<\/h3>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<span class=\"jBOJTwHlcbkye3sAiL18dWpy9nSqGdqaUrc6Dji0KVCNUaHr7RD7mbgzSJwpk4gv5sYBfZW1QulPNEYGKCXOAtIR\"><iframe loading=\"lazy\" title=\"Emini End of Day Review - Tuesday November 8, 2022\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Qcbt_Y_hVcY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/span>\n<\/div><\/figure>\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: Tuesday November 8, 2022 Emini pre-open market analysis Emini daily chart The market is trying to reverse the November 2 surprise bear breakout. However, the odds still favor a second leg down, which means Emini bulls disappointment likely soon. The market is in a trading range, so the pullback could be deep and [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":164192,"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-164143","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\/11\/Emini-trading-range-open-with-failed-bull-and-bear-breakouts-of-triangle-and-then-midday-breakout-into-bull-trend-after-buying-prressure.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\/164143","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=164143"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/164143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/164192"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=164143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=164143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=164143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}