{"id":171002,"date":"2023-02-22T06:20:00","date_gmt":"2023-02-22T14:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=171002"},"modified":"2023-02-24T23:53:26","modified_gmt":"2023-02-25T07:53:26","slug":"emini-bears-follow-through-needed","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-bears-follow-through-needed\/","title":{"rendered":"Emini Bears Follow-through Needed Today"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday February 22, 2023<\/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>Emini bears follow-through needed after downside breakout yesterday, breaking below the February 10<sup>th<\/sup> bull flag.<\/li>\n\n\n\n<li>The market came within 5 points of the 4,000 big round number and will probably have to fall below it today or tomorrow.<\/li>\n\n\n\n<li>The bulls have a trendline at around 3,985, which will also be a magnet for the bulls. The trendline is from the October 2022 low and January 3<sup>rd<\/sup> low.<\/li>\n\n\n\n<li>The market will probably try to reach the January 19<sup>th<\/sup> signal bar high. It was a bad signal bar that trapped bears are selling above. Those bears likely got trapped selling the January 19<sup>th<\/sup> high, thinking it was resistance.<\/li>\n\n\n\n<li>When resistance such as the January 19<sup>th<\/sup> high fails, it often becomes support, which means there will likely be buyers at the high of January 19<sup>th<\/sup>.<\/li>\n\n\n\n<li>Another target for the bears is the January 25<sup>th<\/sup> bottom of the bull channel.<\/li>\n\n\n\n<li>The bears have a strong looking breakout today and must demonstrate strength by getting strong follow-through.<\/li>\n\n\n\n<li>The bulls need to prevent the bears from successfully achieving follow-through. The bulls are hopeful that yesterday was just a sell vacuum test of a 50% pullback from the rally that began in January 2023.<\/li>\n\n\n\n<li>Overall, traders will pay close attention to the follow-through today. If the follow-through is strongly bearish, it will increase the odds of lower prices and a test of the January 19<sup>th<\/sup> signal bar high.<\/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 up 2 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has been in a tight bear channel on the 15-minute chart for several days.<\/li>\n\n\n\n<li>The market has been going sideways in a trading range for most of the overnight session. This will increase the odds of more trading range price action today.<\/li>\n\n\n\n<li>Traders should assume that today will have a lot of trading range price action until there is a clear breakout with follow-through.<\/li>\n\n\n\n<li>Most traders should consider not trading the first 6-12 bars since the odds favor a lot of limit order trading on the open.<\/li>\n\n\n\n<li>Traders looking for a swing trade on the open should wait for a credible double top\/bottom or a wedge top\/bottom. It is common for the opening swing trade to happen after forming one of the above-mentioned patterns.<\/li>\n\n\n\n<li>Lastly, a trader can wait for a credible breakout with follow-through and enter for a second leg.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Emini intraday market update<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Emini rallied on the open and failed to break out of yesterday\u2019s closing range.<\/li>\n\n\n\n<li>The bears got an opening reversal down that sold off with 6 consecutive bear bars.<\/li>\n\n\n\n<li>While the selloff down to bar 10 (7:20 AM PT) was strong, it was within an overall trading range.<\/li>\n\n\n\n<li>The bulls were able to get a strong reversal up on bar 11, which increased the odds of the day is a large trading range and not a bear trend.<\/li>\n\n\n\n<li>Since the odds favored a trading range, the bulls and bears began buying below bars, scaling in lower, betting that the market would rally back to bar 1 and bar 2 low.<\/li>\n\n\n\n<li>The rally up to bar 20 (8:10 AM PT) was a strong enough rally to lead to a 2<sup>nd<\/sup> leg up.<\/li>\n\n\n\n<li>At the time of writing (9:00 AM PT), the market has gone sideways for well over 10 bars, and that increases the odds of the 2<sup>nd<\/sup> leg from the bar 20 rally likely to lead to disappointment and increase the market continuing to go sideways.<\/li>\n\n\n\n<li>Overall, traders should assume the upside and the downside will likely be limited, leading to limit order traders continuing to make money.<\/li>\n\n\n\n<li>the market is in breakout mode and deciding if the bulls will get trend resumption up to the bar 4 close or if the bears will get trend reversal down to the low of the day. Traders should assume that sideways is most likely for the next couple of hours.<\/li>\n\n\n\n<li>Traders should pay attention to the open of the day and assume the market will try and close near it. This would disappoint the bears after yesterday&#8217;s strong bear breakout. <\/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\/2023\/02\/SP500-Emini-5-minute-Bear-Trend-From-The-Open-EOD-Trading-Range.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Bear-Trend-From-The-Open-EOD-Trading-Range-680x383.png\" alt=\"SP500 Emini 5-minute Chart Bear Trend From The Open then End of Day Trading Range. Emini bears follow-through needed.\" class=\"wp-image-171111\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Bear-Trend-From-The-Open-EOD-Trading-Range-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Bear-Trend-From-The-Open-EOD-Trading-Range-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Bear-Trend-From-The-Open-EOD-Trading-Range-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Bear-Trend-From-The-Open-EOD-Trading-Range-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Bear-Trend-From-The-Open-EOD-Trading-Range.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><figcaption class=\"wp-element-caption\">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\/2023\/02\/DS-Emini-5-minute-Bear-Trend-From-The-Open.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"382\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/DS-Emini-5-minute-Bear-Trend-From-The-Open-680x382.png\" alt=\"Daily Setups Bear Trend from the Open\" class=\"wp-image-171142\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/DS-Emini-5-minute-Bear-Trend-From-The-Open-680x382.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/DS-Emini-5-minute-Bear-Trend-From-The-Open-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/DS-Emini-5-minute-Bear-Trend-From-The-Open-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/DS-Emini-5-minute-Bear-Trend-From-The-Open-1536x863.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/DS-Emini-5-minute-Bear-Trend-From-The-Open.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\/2023\/02\/EURUSD-Daily-Likely-Resistance-at-January-6th-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-Likely-Resistance-at-January-6th-High-680x383.jpg\" alt=\"EURUSD Daily: Likely Resistance at January 6th High\" class=\"wp-image-171135\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-Likely-Resistance-at-January-6th-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-Likely-Resistance-at-January-6th-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-Likely-Resistance-at-January-6th-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-Likely-Resistance-at-January-6th-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/EURUSD-Daily-Likely-Resistance-at-January-6th-High.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD had done a good job holding below the moving average for 12 bars which is a sign of strength by the bears.<\/li>\n\n\n\n<li>The selloff has had a lot of overlap during those 12 bars. However, the channel down is tight, which lowers the probability of bulls buying.<\/li>\n\n\n\n<li>The market is in the buy zone of the January 5<sup>th<\/sup> and 6<sup>th<\/sup> high, where bears began to get trapped selling during the rally up to the February high.<\/li>\n\n\n\n<li>The market is likely in a trading range and will bounce soon. This means traders should expect the bear selloff from the February high to be a possible bear leg in a trading range.<\/li>\n\n\n\n<li>Even if the market reaches the January 6<sup>th<\/sup> low before getting a bounce, the odds will still favor more sideways.<\/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\/2023\/02\/SP500-Emini-5-minute-Trading-Range-230222.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Trading-Range-230222-680x383.png\" alt=\"SP500 Emini 5-minute Chart Trading Range\" class=\"wp-image-171171\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Trading-Range-230222-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Trading-Range-230222-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Trading-Range-230222-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Trading-Range-230222-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Trading-Range-230222.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\">\n<li>Live stream video trial replacement of end of day review coming soon.<\/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>Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com <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 February 22, 2023 Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Emini intraday market update Yesterday&#8217;s Emini setups Al created the SP500 Emini charts. Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":171111,"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":[1893,281,60],"class_list":{"0":"post-171002","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-bear-follow-through-2","10":"tag-eurusd-forex","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/SP500-Emini-5-minute-Bear-Trend-From-The-Open-EOD-Trading-Range.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\/171002","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=171002"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/171002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/171111"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=171002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=171002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=171002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}