{"id":165984,"date":"2022-12-09T06:20:00","date_gmt":"2022-12-09T14:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=165984"},"modified":"2022-12-09T19:00:28","modified_gmt":"2022-12-10T03:00:28","slug":"emini-likely-disappointment-for-bears","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-likely-disappointment-for-bears\/","title":{"rendered":"Emini Likely Disappointment for Bears"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday December 9, 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\">\n<li>The daily chart ended the 5-bar bear micro channel yesterday by going above the December 7 high. While bears have done a good job, we could see likely disappointment for bears.<\/li>\n\n\n\n<li>The market is in a trading range, which means traders should expect the pullback to be deeper than what the bears want. <\/li>\n\n\n\n<li>While the odds favor a second leg down, the bears may not sell until the market reaches a higher price, such as the December 6 high.<\/li>\n\n\n\n<li>The bear want to get a strong close below the November 1 high which would increase the odds of a downside breakout and test of the November 9 or 3 low.<\/li>\n\n\n\n<li>The bulls see the recent 5-bar bear micro channel sell vacuum test of the November 1 high. The bulls want to trap the bears and rally going into the end of the year.<\/li>\n\n\n\n<li>More likely, the market will go sideways for the rest of the year.<\/li>\n\n\n\n<li>The 4,000 considerable round number is an obvious magnet for the market going into the end of the year. It is a crucial round number that has influenced the market for over seven months.<\/li>\n\n\n\n<li>While the bears have a reasonable argument for getting a downside breakout and test of the November lows, they will likely run out of time before the end of the year.<\/li>\n\n\n\n<li>Today is Friday, so weekly support and resistance will influence today.<\/li>\n\n\n\n<li>The weekly chart has a bear bar closing below its midpoint. The bears want the market to sell off today and close below last week\u2019s low (3,972.25) as a sign of strength.<\/li>\n\n\n\n<li>The bulls want the opposite and for today to rally. They want to damage this week\u2019s bear bar as much as possible.<\/li>\n<\/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\">\n<li>Emini is down 15 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market was in a bull channel for most of the overnight session.<\/li>\n\n\n\n<li>The bears got a 60-point bear breakout bar during the 5:30 AM PT report bar.<\/li>\n\n\n\n<li>This bear close will likely influence the U.S. Session and increase the odds of a second leg down after the rally. The deeper the pullback after the big bear breakout bar, the greater the risk that the second leg is sideways.<\/li>\n\n\n\n<li>As always, traders should assume the open will have a lot of limit order trading. This means most traders should consider not trading for the first 6-12 bars.<\/li>\n\n\n\n<li>Traders can also consider waiting for a credible stop entry, such as a double top\/bottom or a wedge top\/bottom.<\/li>\n\n\n\n<li>Since today is Friday, traders must be mindful that the market might have a surprisingly strong breakout late in the day as institutions decide on the weekly chart close.<\/li>\n<\/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\/12\/Emini-5-Min-Opening-Reversal-Trading-Range-Day.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-5-Min-Opening-Reversal-Trading-Range-Day-680x383.jpg\" alt=\"Emini 5 Min: Opening Reversal, Trading Range Day. Likely disappointment for bears today.\" class=\"wp-image-166221\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-5-Min-Opening-Reversal-Trading-Range-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-5-Min-Opening-Reversal-Trading-Range-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-5-Min-Opening-Reversal-Trading-Range-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-5-Min-Opening-Reversal-Trading-Range-Day-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-5-Min-Opening-Reversal-Trading-Range-Day.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Brad created the SP500 Emini chart.<\/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\/12\/EURUSD-Daily-Measured-Move-Target-Above.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Daily-Measured-Move-Target-Above-680x383.jpg\" alt=\"EURUSD Daily: Measured Move Target Above\" class=\"wp-image-166268\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Daily-Measured-Move-Target-Above-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Daily-Measured-Move-Target-Above-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Daily-Measured-Move-Target-Above-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Daily-Measured-Move-Target-Above-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/EURUSD-Daily-Measured-Move-Target-Above.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The market is forming a tight bull channel and may be unable to escape the gravitational pull of the November 10 and 11 measured move target above (1.0697).<\/li>\n\n\n\n<li>While the bears can argue that the current channel up is forming a wedge top, the channel has many bull bars closing on their highs.<\/li>\n\n\n\n<li>This increases the odds that any wedge top will likely be minor and lead to more sideways trading than down.<\/li>\n\n\n\n<li>The odds favor a test of the moving average (blue line) soon; traders will hesitate to sell with the measured move target nearby. The reason is that if the odds favor a test of the measured move target above, most traders will instead look to sell after a test of the target.<\/li>\n\n\n\n<li>The bulls also have a potential negative gap (see chart above) which increases the odds of trapped traders, leading to higher prices.<\/li>\n\n\n\n<li>Overall, traders should assume the market will try and test the measured move target shortly, even if the market has to test lower first.<\/li>\n<\/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\/12\/Emini-weak-bull-trend-and-then-nested-wedge-top-and-midday-trend-reversal-down.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-weak-bull-trend-and-then-nested-wedge-top-and-midday-trend-reversal-down-680x383.png\" alt=\"Emini weak bull trend and then nested wedge top and midday trend reversal down\" class=\"wp-image-166318\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-weak-bull-trend-and-then-nested-wedge-top-and-midday-trend-reversal-down-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-weak-bull-trend-and-then-nested-wedge-top-and-midday-trend-reversal-down-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-weak-bull-trend-and-then-nested-wedge-top-and-midday-trend-reversal-down-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-weak-bull-trend-and-then-nested-wedge-top-and-midday-trend-reversal-down-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/Emini-weak-bull-trend-and-then-nested-wedge-top-and-midday-trend-reversal-down.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Al created the SP500 Emini chart.<\/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\">\n<li>I will update at the end of the day.<\/li>\n<\/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 December 9, 2022 Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Yesterday&#8217;s Emini setups Brad created the SP500 Emini chart. 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 [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":166221,"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-165984","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\/12\/Emini-5-Min-Opening-Reversal-Trading-Range-Day.jpg","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\/165984","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=165984"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/165984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/166221"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=165984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=165984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=165984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}