{"id":176223,"date":"2023-04-21T06:20:00","date_gmt":"2023-04-21T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=176223"},"modified":"2023-04-21T22:40:14","modified_gmt":"2023-04-22T05:40:14","slug":"emini-continued-disappointment","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-continued-disappointment\/","title":{"rendered":"Emini Continued Disappointment for Bulls and Bears"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday April 21, 2023<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P 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 Emini sold off late in the day yesterday, preventing the bulls from getting a bull bar closing on its high. Likely Emini continued disappointment for both bulls and bears.<\/li>\n\n\n\n<li>The market has had a lot of overlap since April 4<sup>th<\/sup>. This increases the risk that the market is evolving into a trading range.<\/li>\n\n\n\n<li>The 20-period Exponential Moving Average is around 4,115, close enough for the market to touch it.<\/li>\n\n\n\n<li>Yesterday\u2019s close is in the middle of two important price levels, the March 22<sup>nd<\/sup> high and the February 2<sup>nd<\/sup> high.<\/li>\n\n\n\n<li>Typically, when the market is going sideways and in the middle of two important price levels, it is a clear sign of trading range price action.<\/li>\n\n\n\n<li>This means that the market is deciding on which target to test (March 22<sup>nd<\/sup> or February 2<sup>nd<\/sup> high), and traders should assume the probability is very close to neutral.<\/li>\n\n\n\n<li>The bulls probably still have a slight advantage since the channel up from the March low is tight. However, the probability is not 60% for the bulls. &nbsp;<\/li>\n\n\n\n<li>While the bears had done an excellent job, they have not taken control of the market. The bears have done enough to make the bull breakout up to April 4<sup>th<\/sup> convert into a trading range.<\/li>\n\n\n\n<li>The bears now need to increase the selling pressure if they are going to get a downside breakout and close below the March 22<sup>nd<\/sup> high.<\/li>\n\n\n\n<li>The reason March 22<sup>nd<\/sup> high is important because it is a big bear bar, and it was a possible lower high in the bear channel.<\/li>\n\n\n\n<li>The bears that sold the March 22<sup>nd<\/sup> high never got a chance to exit without a loss. Typically, when the market is in a trading range, it will allow traders who bet against breakouts (sell above bars or buy below bars) to use wide stops and scale in to make a profit or at least avoid a loss.<\/li>\n\n\n\n<li>Overall, traders should expect continued disappointment and confusion for the bulls and the bears. There are probably buyers below and sellers above yesterday\u2019s bar.<\/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 1 point in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has been in a trading range for the overnight session.<\/li>\n\n\n\n<li>At the moment, the market will probably open near yesterday\u2019s close.<\/li>\n\n\n\n<li>Traders should expect a trading range open during the U.S. Session.<\/li>\n\n\n\n<li>As I often say, most traders should wait for 6-12 bars before placing a trade. Waiting for 6-12 bars gives a trader information on how the day will likely unfold.<\/li>\n\n\n\n<li>On the open, there is a 50% chance that the initial move reverses and an 80% chance that the initial move has at least a minor reversal.<\/li>\n\n\n\n<li>Today is Friday, so weekly support and resistance are important. The open of the week is 4,161, which will be magnet today.<\/li>\n\n\n\n<li>Traders should be prepared for a possible surprise breakout late in the day due to traders deciding on the close of the weekly chart.<\/li>\n\n\n\n<li>Lastly, traders should be open to anything. It is important to become comfortable changing your opinion about the market once you conclude your premise has changed.<\/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>To follow about midday&#8230;<\/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\/04\/SP500-Emini-5-Min-Bull-Trend-From-The-Open-Midday-Reversal-Down.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Bull-Trend-From-The-Open-Midday-Reversal-Down-680x383.png\" alt=\"SP500 Emini 5-Min Bull Trend From The Open, Midday Reversal Down. Likely Emini continued disappointment for bulls and bears.\" class=\"wp-image-176489\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Bull-Trend-From-The-Open-Midday-Reversal-Down-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Bull-Trend-From-The-Open-Midday-Reversal-Down-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Bull-Trend-From-The-Open-Midday-Reversal-Down-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Bull-Trend-From-The-Open-Midday-Reversal-Down-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Bull-Trend-From-The-Open-Midday-Reversal-Down.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 near 4-year library of more detailed explanations of swing trade setups (see Online Course\/BTC Daily Setups). Encyclopedia members get current daily charts added to Encyclopedia.<\/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\/04\/EURUSD-Daily-Disappointed-Bulls-at-the-April-13th-Close.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Disappointed-Bulls-at-the-April-13th-Close-680x383.jpg\" alt=\"EURUSD Daily: Disappointed Bulls at the April 13th Close\" class=\"wp-image-176522\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Disappointed-Bulls-at-the-April-13th-Close-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Disappointed-Bulls-at-the-April-13th-Close-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Disappointed-Bulls-at-the-April-13th-Close-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/EURUSD-Daily-Disappointed-Bulls-at-the-April-13th-Close.jpg 1440w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD will probably test the April 13<sup>th<\/sup> bull bar over the next couple of days.<\/li>\n\n\n\n<li>Although the April 13<sup>th<\/sup> bull close is a possible third leg up and a 2<sup>nd<\/sup> leg trap, it was reasonable to buy the close of the bar. Since it was reasonable to buy the April 13<sup>th<\/sup> close, the market will probably reach it and allow the bulls out.<\/li>\n\n\n\n<li>The consecutive bear bars ending on April 17<sup>th<\/sup> were good for the bears. However, they failed to break below the moving average. The bears were disappointed with April 18<sup>th and <\/sup>used the following bar (April 19<sup>th<\/sup>) to exit at the low bear close (April 17<sup>th<\/sup>).<\/li>\n\n\n\n<li>Overall, the market will probably have to reach the April 13<sup>th<\/sup> close. However, the selloff down to April 17 is enough to increase the odds that the market is in a Trading range. This means there are probably sellers above the April 14<sup>th<\/sup> high.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Summary of today&#8217;s S&amp;P Emini futures price action<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Trading-Range-Open-Trading-Range-Day.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Trading-Range-Open-Trading-Range-Day-680x383.png\" alt=\"SP500 Emini 5-Min Trading Range Open Trading Range Day\" class=\"wp-image-176610\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Trading-Range-Open-Trading-Range-Day-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Trading-Range-Open-Trading-Range-Day-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Trading-Range-Open-Trading-Range-Day-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Trading-Range-Open-Trading-Range-Day-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/04\/SP500-Emini-5-Min-Trading-Range-Open-Trading-Range-Day.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 video review<\/h3>\n\n\n\n<p>Today\u2019s End Of Day review will be presented in the Trading Room and only available to the trading room subscribers.<\/p>\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: Friday April 21, 2023 S&amp;P 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 [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":176489,"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-176223","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\/2023\/04\/SP500-Emini-5-Min-Bull-Trend-From-The-Open-Midday-Reversal-Down.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\/176223","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=176223"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/176223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/176489"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=176223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=176223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=176223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}