{"id":184542,"date":"2023-07-26T06:23:51","date_gmt":"2023-07-26T13:23:51","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=184542"},"modified":"2023-07-26T20:52:22","modified_gmt":"2023-07-27T03:52:22","slug":"emini-measured-move-to-4500","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-measured-move-to-4500\/","title":{"rendered":"Emini Bears Want Double Top Test of 4,500"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday July 26, 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<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Emini-Daily-Bears-Want-Double-Top-Test-of-Moving-Average-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Emini-Daily-Bears-Want-Double-Top-Test-of-Moving-Average-680x383.jpg\" alt=\"Emini Daily: Bears Want Double Top Test of Moving Average\" class=\"wp-image-184654\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Emini-Daily-Bears-Want-Double-Top-Test-of-Moving-Average-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Emini-Daily-Bears-Want-Double-Top-Test-of-Moving-Average-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Emini-Daily-Bears-Want-Double-Top-Test-of-Moving-Average-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Emini-Daily-Bears-Want-Double-Top-Test-of-Moving-Average-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Emini-Daily-Bears-Want-Double-Top-Test-of-Moving-Average-2048x1152.jpg 2048w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The bears are hopeful that yesterday is forming a micro double top with the July 19<sup>th<\/sup> high. Next, they want a break below the neckline (July 20<sup>th<\/sup>) and a measured move down to the moving average and the 4,500 big round number.<\/li>\n\n\n\n<li>The Emini is testing the July 19<sup>th<\/sup> high and will likely find sellers at this price level. This also corresponds to 4,600, which is a likely resistance level.<\/li>\n\n\n\n<li>The market has been above the moving average for over 35 bars which is a sign of strong momentum for the bulls.<\/li>\n\n\n\n<li>The bulls are happy to buy above the moving average when the momentum justifies buying at a more expensive price. <\/li>\n\n\n\n<li>Traders see the moving average as a fair price; however, once the market begins to go sideways, fewer bulls are willing to buy far away from the moving average. This means that the market has to get closer to the moving average; in this case, the market will likely have to reach the moving average.<\/li>\n\n\n\n<li>At the moment, the odds favor a 100-point selloff down to 4,500 before the bulls get a 100-point rally up to 4,700.<\/li>\n\n\n\n<li>Overall, traders should expect sideways to down trading over the next few days.<\/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 18 points in the overnight Globex session.<\/li>\n\n\n\n<li>Today, there is an FOMC Report at 11:00 AM PT\/ 2:00 PM EST. Traders should expect the market to try and get neutral going into the report. This means that the opening may have a lot of trading range price action.<\/li>\n\n\n\n<li>As I often say, most traders should consider not trading the opening session&#8217;s first 6-12 bars. The open usually has multiple reversals and failed breakouts, so one can quickly take 1-3 losses. If this happens, they will likely find themselves desperately spending the rest of the day trying to reach breakeven.<\/li>\n\n\n\n<li>The opening bars can often be big, so if trading, it is important to be aware of this and trade small.<\/li>\n\n\n\n<li>When the fed report is released, a good rule of thumb is to trade 20% of one&#8217;s normal position size.<\/li>\n\n\n\n<li>Traders should wait for the close of the second bar after the FOMC report is released at 2:00 PM EST before placing a trade.<\/li>\n\n\n\n<li>Overall, traders should expect a lot of trading range price action on the open. However, they must not be in denial if the market starts to form strong trend bars on the open.<\/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 went sideways in a tight trading range for the first hour of the day.<\/li>\n\n\n\n<li>The Bears ended up getting a 2<sup>nd<\/sup> leg down following the gap down on the open. However, the market formed a parabolic wedge bottom and reversed around the bar 18 low.<\/li>\n\n\n\n<li>The bulls are testing the high of bar 3. However, there are probably sellers around the bar 3 high. This means that the market will likely begin to go sideways soon.<\/li>\n\n\n\n<li>Today is an FOMC day, and the report will be released at 2:00 PM EST. Traders should be flat for at least 30 minutes going into the report and consider not trading for the first 10 minutes following the report.<\/li>\n\n\n\n<li>Traders should be open to anything once the report is released and treat the release of the report like a new 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\/07\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"382\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-1-680x382.jpg\" alt=\"SP500 Emini 5-Min Chart Small Pullback Bull Trend From The Open\" class=\"wp-image-184635\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-1-680x382.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-1-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-1-768x431.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-1.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-Test-of-June-High-Sideways-Likely-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Test-of-June-High-Sideways-Likely-680x383.jpg\" alt=\"EURUSD Daily: Test of June High, Sideways Likely\" class=\"wp-image-184650\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Test-of-June-High-Sideways-Likely-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Test-of-June-High-Sideways-Likely-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Test-of-June-High-Sideways-Likely-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Test-of-June-High-Sideways-Likely-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/EURUSD-Daily-Test-of-June-High-Sideways-Likely-2048x1152.jpg 2048w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD is stalling just above the June high.<\/li>\n\n\n\n<li>The bears have done a great job creating selling pressure over the past six trading days.<\/li>\n\n\n\n<li>However, it is beginning to form a parabolic wedge following the strong rally up to July 18<sup>th<\/sup>. These reasons increase the odds of going sideways over the next few weeks.<\/li>\n\n\n\n<li>The recent downside breakout is strong enough for a second leg down. Any rally will probably lead to a lower high and fail to surpass the July 18<sup>th<\/sup> high.<\/li>\n\n\n\n<li>The bulls are hopeful that the recent selloff is a buy vacuum test of the Jun2 22<sup>nd<\/sup> high that will lead to a higher lower and a test of the July high.<\/li>\n\n\n\n<li>The bulls will likely need to form a double bottom with the July 25<sup>th<\/sup> low at a minimum before they have a chance at a reversal up. This means the first reversal from the six-bar bear microchannel will likely be minor.<\/li>\n\n\n\n<li>Overall, traders should expect sideways trading for the next several days.<\/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-Trading-Range-Became-Taller-after-FOMC.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-Trading-Range-Became-Taller-after-FOMC-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Trading Range Became Taller after FOMC\" class=\"wp-image-184680\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Trading-Range-Became-Taller-after-FOMC-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Trading-Range-Became-Taller-after-FOMC-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Trading-Range-Became-Taller-after-FOMC-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/SP500-Emini-5-Min-Chart-Trading-Range-Became-Taller-after-FOMC.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<div class=\"wp-block-stackable-video-popup stk-block-video-popup stk-block stk-5cc96ed\" data-video=\"https:\/\/www.youtube.com\/watch?v=z5jpGvbAPko\" data-block-id=\"5cc96ed\"><button class=\"stk-block-video-popup__overlay stk-row stk-inner-blocks stk-block-content stk-hover-parent\" aria-label=\"Play Video\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-center stk-block stk-5873b2c\" data-block-id=\"5873b2c\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-5873b2c\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-5873-b-2-c-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-5873-b-2-c-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"play\" class=\"svg-inline--fa fa-play fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M424.4 214.7L72.4 6.6C43.8-10.3 0 6.1 0 47.9V464c0 37.5 40.7 60.1 72.4 41.3l352-208c31.4-18.5 31.5-64.1 0-82.6z\"><\/path><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-image stk-block-image stk-block stk-bd86b34\" data-block-id=\"bd86b34\"><figure class=\"stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-179791\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/Brad-Wolff-Emini-EOD-Review-680px.png\" width=\"680\" height=\"382\" alt=\"Brad Wolff Emini EOD Review\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/Brad-Wolff-Emini-EOD-Review-680px.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/Brad-Wolff-Emini-EOD-Review-680px-300x169.png 300w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/figure><\/div>\n<\/button><\/div>\n\n\n\n<p>Here is YouTube link if video popup blocked:<\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=z5jpGvbAPko\" target=\"_blank\" rel=\"noreferrer noopener\">Emini End of Day Review &#8211; Wednesday July 26, 2023 &#8211; Brad Wolff<\/a><\/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: Wednesday July 26, 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":184635,"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-184542","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\/07\/SP500-Emini-5-Min-Chart-Small-Pullback-Bull-Trend-From-The-Open-1.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\/184542","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=184542"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/184542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/184635"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=184542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=184542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=184542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}