{"id":178936,"date":"2023-05-23T06:20:00","date_gmt":"2023-05-23T13:20:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=178936"},"modified":"2023-05-23T21:41:35","modified_gmt":"2023-05-24T04:41:35","slug":"emini-weak-high-1-buy-setup","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-weak-high-1-buy-setup\/","title":{"rendered":"Emini Weak High 1 Buy Setup"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday May 23, 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 triggered the sell below last Friday\u2019s low and reversed up. Bulls have a high 1 buy signal bar today. However, it closed as a doji, a weak High 1 buy signal bar.<\/li>\n\n\n\n<li>The Bulls will likely get a second leg up and a test of the February high. However, yesterday\u2019s signal bar increases the probability that the bears will get a small second leg down after last Friday\u2019s bear bar.<\/li>\n\n\n\n<li>At the moment, the market is Always In Long. This means that traders will buy for a second leg up. The problem the bulls have is that the market is at the top of a trading range. This increases the risk of a possible trap for the bulls.<\/li>\n\n\n\n<li>The bears must create more selling pressure to convince everyone that last week\u2019s two-bar bull breakout will fail.<\/li>\n\n\n\n<li>However, if bears manage to get the market to go sideways for a couple of bars and form a 2<sup>nd<\/sup> entry short, that would lower the probability for the bulls.<\/li>\n\n\n\n<li>Overall, the bears are trapped who sold during the bull breakout last Wednesday and Thursday (May 18<sup>th<\/sup>).&nbsp; The Bulls have an opportunity to get a strong 2<sup>nd<\/sup> leg up and need to take advantage of it.<\/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 16 points in the overnight Globex session.<\/li>\n\n\n\n<li>The overnight Globex market reached yesterday\u2019s U.S. Session high and sold off, testing and breaking below yesterday\u2019s low.<\/li>\n\n\n\n<li>The bears want today to close on its low. However, today will likely be a trading range day and disappoint the bulls and the bears.<\/li>\n\n\n\n<li>The bulls will try and get a bull trend bar closing on its high. If the market closes below yesterday&#8217;s high, this will create a High 1 buy signal bar.<\/li>\n\n\n\n<li>As I often say, traders should expect a lot of trading range price action today and for the market to go sideways for the first 6-12 bars. This means there is no rush to trade on the open because the odds favor sideways trading.<\/li>\n\n\n\n<li>Most traders should try and catch the opening swing that often begins after the formation of a double top\/bottom or a wedge top\/bottom. The opening swing will typically begin before the end of the second hour.<\/li>\n\n\n\n<li>Overall, traders should expect a trading range day. Lastly, traders should pay close attention to the day\u2019s open as it will probably be a magnet for most of the day.<\/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\/05\/SP500-Emini-5-Min-Buy-Climax-Then-Sell-Climax-and-Then-Trading-Range.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Buy-Climax-Then-Sell-Climax-and-Then-Trading-Range-680x383.png\" alt=\"SP500 Emini 5-Min Buy Climax Then Sell Climax and Then Trading Range. A weak High 1 Buy Setup.\" class=\"wp-image-179038\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Buy-Climax-Then-Sell-Climax-and-Then-Trading-Range-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Buy-Climax-Then-Sell-Climax-and-Then-Trading-Range-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Buy-Climax-Then-Sell-Climax-and-Then-Trading-Range-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Buy-Climax-Then-Sell-Climax-and-Then-Trading-Range-1536x864.png 1536w\" 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\/05\/EURUSD-Daily-Likely-to-Reach-March-24th-Low.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-Likely-to-Reach-March-24th-Low-680x383.jpg\" alt=\"\" class=\"wp-image-179025\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-Likely-to-Reach-March-24th-Low-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-Likely-to-Reach-March-24th-Low-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-Likely-to-Reach-March-24th-Low-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/EURUSD-Daily-Likely-to-Reach-March-24th-Low.jpg 1440w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Bulls tried to get a reversal up over the past two days. However, the channel down is tight. This increased the probability or more sideways to down.<\/li>\n\n\n\n<li>The bears want to get down to the March 24<sup>th<\/sup> low, the bottom of the bull channel that rallied up to the May high.<\/li>\n\n\n\n<li>If everyone agrees that the market will have to reach it (March 24<sup>th<\/sup>), it could get a sell vacuum test of the support level.<\/li>\n\n\n\n<li>Bulls want to create support and form a double bottom with the Mach 24<sup>th<\/sup> low. The likelihood the bulls have with the argument of the double bottom is that the bear channel is tight. This increases the probability that the first reversal down will fail.<\/li>\n\n\n\n<li>Overall, traders should expect more sideways to down and a test of the March 24<sup>th<\/sup> low. The bulls need to create more buying pressure, such as a micro double bottom, if they will get a reversal up.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Summary of today&#8217;s S&amp;P Emini price action<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Trading-Range-Open-Then-Bear-Breakout.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Trading-Range-Open-Then-Bear-Breakout-680x383.png\" alt=\"SP500 Emini 5-Min Trading Range Open Then Bear Breakout\" class=\"wp-image-179071\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Trading-Range-Open-Then-Bear-Breakout-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Trading-Range-Open-Then-Bear-Breakout-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Trading-Range-Open-Then-Bear-Breakout-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Trading-Range-Open-Then-Bear-Breakout-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Trading-Range-Open-Then-Bear-Breakout.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<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\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: Tuesday May 23, 2023 S&amp;P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today 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 entry with a [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":179038,"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":[281,329,60],"class_list":{"0":"post-178936","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-high-1-buy-signal","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/SP500-Emini-5-Min-Buy-Climax-Then-Sell-Climax-and-Then-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\/178936","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=178936"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/178936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/179038"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=178936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=178936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=178936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}