{"id":187597,"date":"2023-08-24T06:15:00","date_gmt":"2023-08-24T13:15:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=187597"},"modified":"2023-08-24T22:02:52","modified_gmt":"2023-08-25T05:02:52","slug":"emini-bulls-likely-disappointed-2","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-bulls-likely-disappointed-2\/","title":{"rendered":"Emini Bulls Likely to Become Disappointed"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Thursday August 24, 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 gapped up and rallied yesterday following a bad Low 1 short on Tuesday.<\/li>\n\n\n\n<li>The bulls are hopeful that today will form another strong bull trend bar. However, it is more likely that today will disappoint the bulls.<\/li>\n\n\n\n<li>The channel down to the August low is tight. This increases the odds that the current reversal will be minor and not lead to a bear trend.<\/li>\n\n\n\n<li>The bulls have done enough damage to increase the odds of buyers not far below and more sideways trading.<\/li>\n\n\n\n<li>The bears who sold the August low are likely disappointed by the rally over the past four days. They will probably be more interested in minimizing a loss rather than making a profit. This increases the odds of a higher low above the August 18<sup>th<\/sup> low and at least a small second leg up.<\/li>\n\n\n\n<li>While the bulls have done a good job, the market is still Always In Short, which means the odds favor more sideways to down trading.<\/li>\n\n\n\n<li>However, the rally over the past few days increases the odds of the market being in a trading range which means there are probably buyers below the August 18<sup>th<\/sup> Low scaling in lower. This will limit the number of bears willing to establish new shorts below the August 18th low, assuming the market falls below 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>The overnight Globex market sold off during the early morning hours. However, after the strong rally yesterday, the odds favored a trading range and not a bear trend.<\/li>\n\n\n\n<li>The bears are trying to halt the buying pressure and convert the market into a trading range.<\/li>\n\n\n\n<li>The Bulls will try to get another follow-through bar today. However, the odds favor disappointment for the bulls.<\/li>\n\n\n\n<li>Traders should expect a trading range open and consider not trading for the first 6-12 bar unless they are comfortable with limit orders.<\/li>\n\n\n\n<li>By waiting for 6-12 bars, a trader will gain certainty on the day structure and have a higher probability of catching the high or low of the day.<\/li>\n\n\n\n<li>Most importantly, traders should be open to anything and not be in denial of what the price action is telling them.<\/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-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Small Pullback Bull Trend From The Open\" class=\"wp-image-187688\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open.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\/08\/EURUSD-Daily-Failed-Breakout-below-July-6th-Signal-Bar-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Failed-Breakout-below-July-6th-Signal-Bar-680x383.jpg\" alt=\"EURUSD Daily Failed Breakout below July 6th Signal Bar\" class=\"wp-image-187712\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Failed-Breakout-below-July-6th-Signal-Bar-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Failed-Breakout-below-July-6th-Signal-Bar-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Failed-Breakout-below-July-6th-Signal-Bar-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Failed-Breakout-below-July-6th-Signal-Bar-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/EURUSD-Daily-Failed-Breakout-below-July-6th-Signal-Bar-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 recently broke below a bear channel yesterday. However, the breakout bar reversed up, forming a bull reversal bar.<\/li>\n\n\n\n<li>Yesterday\u2019s bull reversal bar is within a tight bear channel, which lowers the probability of buying above it. However, it is reasonable for the bears to exit above yesterday&#8217;s bar, betting on a test of the moving average (blue line).<\/li>\n\n\n\n<li>If the bulls want a higher probability, they must wait for strong follow-through buying in consecutive strong bull trend bars.<\/li>\n\n\n\n<li>The market found buyers below the July 6<sup>th<\/sup> low, which was expected. The bulls are making money with limit orders below bars, which indicates that the market is in a trading range.<\/li>\n\n\n\n<li>Next, traders will want to see bulls make money with stop entries, increasing the odds that the market is in a trading range.<\/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-Minute-Chart-Higher-High-Double-Top-Then-Small-Pullback-Bear-Trend.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Higher-High-Double-Top-Then-Small-Pullback-Bear-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Higher High Double Top Then Small Pullback Bear Trend\" class=\"wp-image-187760\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Higher-High-Double-Top-Then-Small-Pullback-Bear-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Higher-High-Double-Top-Then-Small-Pullback-Bear-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Higher-High-Double-Top-Then-Small-Pullback-Bear-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/SP500-Emini-5-Minute-Chart-Higher-High-Double-Top-Then-Small-Pullback-Bear-Trend.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 August 24, 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":187688,"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-187597","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\/08\/SP500-Emini-5-Minute-Chart-Small-Pullback-Bull-Trend-From-The-Open.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\/187597","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=187597"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/187597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/187688"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=187597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=187597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=187597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}