{"id":182702,"date":"2023-07-06T06:02:30","date_gmt":"2023-07-06T13:02:30","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=182702"},"modified":"2023-07-06T17:00:21","modified_gmt":"2023-07-07T00:00:21","slug":"emini-to-test-june-30th-gap","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-to-test-june-30th-gap\/","title":{"rendered":"Emini Likely to Test into June 30th Gap"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Thursday July 6, 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 will likely test into the June 30th gap on the daily chart and pullback for a day or two. <\/li>\n\n\n\n<li>The Emini formed an inside bar with the June 30<sup>th<\/sup> Bull breakout bar.<\/li>\n\n\n\n<li>The bulls hope that the rally will continue; however, the market will likely have to pull back for a couple of days.<\/li>\n\n\n\n<li>The bears want to retest the June 29<sup>th<\/sup> breakout point high at a minimum. This is an area where the bears gave up on the idea of the rally up to June 29<sup>th<\/sup> being a bear flag. This means the high of June 29<sup>th<\/sup> is a magnet and will likely act as support if the market reaches it.<\/li>\n\n\n\n<li>The bears hope the market is forming a double top with June 16<sup>th<\/sup>. Next, they want a breakout below the neckline (June 26<sup>th<\/sup> and a measured move down.<\/li>\n\n\n\n<li>More likely, the market will continue sideways for the next couple of weeks.<\/li>\n\n\n\n<li>The bulls will probably get a second leg up since the bears will likely buy the first reversal down. These bears are trapped in a losing trade and will likely buy back shorts for a smaller loss. The Bulls know this and will probably look to buy as well.<\/li>\n\n\n\n<li>Overall, the Bulls will probably get a second leg up. Since the odds favor a second leg, traders must be prepared for the opposite and, instead, an endless pullback that leads to a double top and measured move down.<\/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 35 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Overnight Globex market sold off below yesterday\u2019s low, which has gone sideways for several hours.<\/li>\n\n\n\n<li>The bears want today to close on its low and damage the bull case on the daily chart.<br>The Bulls want the opposite and will try to get a rally on the open.<\/li>\n\n\n\n<li>Traders should expect a lot of trading range price action on the open. As I often say, most traders should consider not trading for the first 6-12 bars as the market will probably be in a limit order market.<\/li>\n\n\n\n<li>Most traders should focus on catching the opening swing trade that often begins by the end of the second hour. It is common for the market to form a double top\/bottom or a wedge top\/bottom before the opening swing trade begins.<\/li>\n\n\n\n<li>Lastly, traders should be ready for anything on the open and trade the chart in front of them. While the odds favor a trading range open, a trader cannot be in denial if the market starts to form trending behavior.<\/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\/07\/SP500-Emini-5-Min-Bull-Trend-From-the-Open-and-Trading-Range-Day.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Bull-Trend-From-the-Open-and-Trading-Range-Day-680x383.jpg\" alt=\"SP500 Emini 5-Min Bull Trend From the Open and Trading Range Day\" class=\"wp-image-182765\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Bull-Trend-From-the-Open-and-Trading-Range-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Bull-Trend-From-the-Open-and-Trading-Range-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Bull-Trend-From-the-Open-and-Trading-Range-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Bull-Trend-From-the-Open-and-Trading-Range-Day.jpg 1280w\" 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\/07\/EURUSD-Daily-Bulls-Want-Wedge-Bottom.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Bulls-Want-Wedge-Bottom-680x383.jpg\" alt=\"\" class=\"wp-image-182782\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Bulls-Want-Wedge-Bottom-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Bulls-Want-Wedge-Bottom-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Bulls-Want-Wedge-Bottom-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Bulls-Want-Wedge-Bottom.jpg 1440w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUUSD is trying to form a wedge bottom bull flag just above the June 15<sup>th<\/sup> Low.<\/li>\n\n\n\n<li>The bulls want the trend resumption up after the rally up to June 22<sup>nd<\/sup>.<\/li>\n\n\n\n<li>The bulls want signs of strength today. One sign of strength would be today closing on its high, forming a strong buy signal bar. The bears will try to prevent this by creating a weak buy signal bar close.<\/li>\n\n\n\n<li>The bears are hopeful that any rally that follows today will be weak and lead to a trading range instead of a strong bull rally.<\/li>\n\n\n\n<li>Overall, traders will pay close attention to today\u2019s close to see how strong of a buy signal bar the bulls can make. Next, traders will pay attention to tomorrow\u2019s entry bar if the bulls create a decent buy signal bar.<\/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\/07\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Sell-Climax-and-Reversal-Up.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Sell-Climax-and-Reversal-Up-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Parabolic Wedge Sell Climax and Reversal Up\" class=\"wp-image-182815\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Sell-Climax-and-Reversal-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Sell-Climax-and-Reversal-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Sell-Climax-and-Reversal-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Parabolic-Wedge-Sell-Climax-and-Reversal-Up.jpg 1280w\" 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>Live stream videos to follow Monday, Wednesday and Friday (subject to change).<\/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: Thursday July 6, 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":182765,"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":[281,60,1908],"class_list":{"0":"post-182702","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":"tag-testing-resistance","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Bull-Trend-From-the-Open-and-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\/182702","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=182702"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/182702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/182765"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=182702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=182702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=182702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}