{"id":185023,"date":"2023-08-02T06:18:13","date_gmt":"2023-08-02T13:18:13","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=185023"},"modified":"2023-08-02T22:04:33","modified_gmt":"2023-08-03T05:04:33","slug":"emini-bears-reached-july-28th-low","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-bears-reached-july-28th-low\/","title":{"rendered":"Emini Bears Have Reached the July 28th Low"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday August 2, 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 continues to go sideways following last Thursdays outside down bar. On the Globex Market, the Bears are testing the July 28th Low. <\/li>\n\n\n\n<li>I have been saying for the past couple of blogs that the odds favor a test of the moving average (blue line). While the bulls have done a good job of forming a tight channel, the momentum to the upside is losing energy.<\/li>\n\n\n\n<li>Traders are happy to buy far above the moving average if the momentum justifies paying a higher premium. However, the bulls have lost momentum, so traders will be less willing to buy far above the moving average.<\/li>\n\n\n\n<li>The bears are hopeful that they can get a strong downside breakout; however, more likely, the best the bears will be able to achieve is a trading range.<\/li>\n\n\n\n<li>Overall, traders should expect the market to reach the moving average today or in 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 33 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market recently sold off below last Thursday\u2019s low (July 27<sup>th<\/sup>), the minimum expectation for the bears.<\/li>\n\n\n\n<li>The market will probably form a trading range around last Thursday&#8217;s low, and buyers will probably be around the low.<\/li>\n\n\n\n<li>Today will probably have a lot of trading range price action. This means most traders should assume that the open will be a limit order market until proven otherwise.<\/li>\n\n\n\n<li>Most traders should wait for 6-12 bars before placing a trade. By being patient on the open, a trader will gain certainty about the day&#8217;s structure and have higher confidence in what type of day is forming.<\/li>\n\n\n\n<li>There is at least an 80% chance that the market will form an opening swing before the end of the second hour. It is common for the opening swing to begin after the formation of a double top\/bottom or a wedge top\/bottom.<\/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 gapped down and formed a bear trend from the open. The bears have done an excellent job; however, as of bar 36, the market is beginning to develop more buying pressure. This increases the odds that the market is transitioning into a trading range.<\/li>\n\n\n\n<li>The bears hope the selloff will continue for the rest of the day.<\/li>\n\n\n\n<li>There is a 60% chance that the bear trend will transition into a trading range before the end of the day.<\/li>\n\n\n\n<li>Traders should expect a trading range to develop soon, which will probably last at least a few hours.<\/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\/08\/SP500-Emini-5-Min-Chart-Trading-Range-Day-Many-Measured-Moves.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Trading-Range-Day-Many-Measured-Moves-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Trading Range Day Many Measured Moves\" class=\"wp-image-185111\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Trading-Range-Day-Many-Measured-Moves-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Trading-Range-Day-Many-Measured-Moves-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Trading-Range-Day-Many-Measured-Moves-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Trading-Range-Day-Many-Measured-Moves.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Richard created the SP500 Emini chart (Al travelling).<\/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\/08\/EURUSD-Daily-Bears-Want-Test-of-July-6th-Low-1-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Bears-Want-Test-of-July-6th-Low-1-680x383.jpg\" alt=\"EURUSD Daily: Bears Want Test of July 6th Low\" class=\"wp-image-185132\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Bears-Want-Test-of-July-6th-Low-1-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Bears-Want-Test-of-July-6th-Low-1-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Bears-Want-Test-of-July-6th-Low-1-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Bears-Want-Test-of-July-6th-Low-1-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Bears-Want-Test-of-July-6th-Low-1-2048x1152.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 trying to get a downside breakout below the July 28<sup>th<\/sup> low. Next, the bears want a test of the July 6<sup>th<\/sup> low.<\/li>\n\n\n\n<li>While the channel down is tight, it looks like a bear leg in what will become a trading range. The bears will probably be disappointed soon, and the market will bounce.<\/li>\n\n\n\n<li>Overall, the market will probably begin to go sideways soon and attempt to rally for a couple of weeks. &nbsp;&nbsp;<\/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\/08\/SP500-Emini-5-Min-Chart-Bear-Trend-From-The-Open-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Bear-Trend-From-The-Open-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From The Open Then Trading Range\" class=\"wp-image-185166\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Bear-Trend-From-The-Open-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Bear-Trend-From-The-Open-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Bear-Trend-From-The-Open-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Min-Chart-Bear-Trend-From-The-Open-Then-Trading-Range.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Al created the SP500 Emini chart.<\/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-79ad134\" data-video=\"https:\/\/www.youtube.com\/watch?v=IY3v1-6opcw\" data-block-id=\"79ad134\"><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-e863ea1\" data-block-id=\"e863ea1\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-e863ea1\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-e-863-ea-1-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-e-863-ea-1-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-e1d701c\" data-block-id=\"e1d701c\"><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=IY3v1-6opcw\" target=\"_blank\" rel=\"noreferrer noopener\">Emini End of Day Review &#8211; Wednesday August 2, 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 August 2, 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 Richard created the SP500 Emini chart (Al travelling). Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":185111,"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":[153,136,241],"tags":[281,60],"class_list":{"0":"post-185023","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"category-video","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\/08\/SP500-Emini-5-Min-Chart-Trading-Range-Day-Many-Measured-Moves.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\/185023","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=185023"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/185023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/185111"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=185023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=185023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=185023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}