{"id":188640,"date":"2023-09-07T06:10:00","date_gmt":"2023-09-07T13:10:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=188640"},"modified":"2023-09-07T23:27:18","modified_gmt":"2023-09-08T06:27:18","slug":"emini-august-24th-breakout-point","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-august-24th-breakout-point\/","title":{"rendered":"Emini Closed August 24th Breakout Point"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Thursday September 7, 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 down yesterday and sold off below the August 24<sup>th<\/sup> breakout point high and the August 2022 high.<\/li>\n\n\n\n<li>There were scale-in bulls who bought the rally up to September 1<sup>st<\/sup> and got caught on the wrong side of a second leg trap. These bulls are now trapped in a losing trade and will probably look to exit on any reversal up.<\/li>\n\n\n\n<li>While the bears have done a good job with the overall selling over the past few days, the market will probably go sideways before it goes much lower.<\/li>\n\n\n\n<li>The bulls are still hopeful that yesterday is a 50% pullback of the rally that led to the September high. Next, they want another leg up that breaks beyond the September high.<\/li>\n\n\n\n<li>More likely, the market will go sideways over the next few days.<\/li>\n\n\n\n<li>Traders should be open to today being a disappointment bar for the bears.<\/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 market sold off during the overnight session after forming a rally into the close, following yesterday&#8217;s early morning selloff.<\/li>\n\n\n\n<li>The bulls hope the market will form a major trend reversal and rally during the U.S. Session.<\/li>\n\n\n\n<li>Most major trend reversals lead to minor reversals and sideways trading. This means that traders should expect the open to have a lot of trading range price action.<\/li>\n\n\n\n<li>As I often say, most traders should wait 6-12 bars before placing a trade. This is because there is typically an 80% chance that the open will form a trading range, which means the first 6-12 bars of the day.<\/li>\n\n\n\n<li>There is only around a 20% chance of a trend from the open up or down.<\/li>\n\n\n\n<li>Most traders should focus on trying to catch the opening swing trade. They will typically begin before the end of the second hour, following a double top\/bottom or a wedge top\/bottom.@es<\/li>\n\n\n\n<li>Traders should pay close attention to yesterday\u2019s low and the day&#8217;s open since the bulls. The market may try and rally today and form a second leg up after yesterday\u2019s rally into the close.<\/li>\n\n\n\n<li>The Bulls should not have allowed bar 27 to form. This increased the risk of a TR and test down to prior breakout points, which is what is happening during bar 29.<\/li>\n\n\n\n<li>The market may try and test the Open of the day (bar 29).  <\/li>\n\n\n\n<li>The bulls want bar 30 to be a double bottom with bar 18.<\/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 rally to bar 3 was enough to make the market likely become a bull trend or a trading range day.<\/li>\n\n\n\n<li>There is an 80% chance of a trading range open, which means it was reasonable for bulls to exit below bar 4 due to the possibility of the market needing to form a double bottom and the risk of a second leg down following the gap down.<\/li>\n\n\n\n<li>The Emini formed a double bottom, getting a bull breakout above the neckline (Bar 3).<\/li>\n\n\n\n<li>The bulls want a measured move of the double bottom, which projects up to near yesterday&#8217;s close.<\/li>\n\n\n\n<li>The bears hope they can prevent the bulls from getting the upside breakout above bar 3.<\/li>\n\n\n\n<li>Today is unlikely to be a bear-trend day, and with the tail below yesterday\u2019s low, the market was likely to have a hard time falling far below yesterday\u2019s low.<\/li>\n\n\n\n<li>As of bar 15, the market is Always Long and likely to go higher.<\/li>\n\n\n\n<li>With bars 14 and 15 closing near their highs, the bulls will probably get a second leg up, and they might get a measured move up of the opening range.<\/li>\n\n\n\n<li>The bears need to undo the damage caused by bars 14 and 15. At a minimum, they need to form 2-3 consecutive bear trend bars closing on their lows in order to convince the bulls to give up. <\/li>\n\n\n\n<li>Bars 16 and 17 are consecutive bear bars, but the bears probably need 1 more bear bar closing on its low to cause bulls to give up. The bulls want bar 18 to form a High 1 buy signal bar and lead to a second leg up. <\/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\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-50-Percent-Pullback.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-50-Percent-Pullback-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Bear Trend From Open Then 50 Percent Pullback\" class=\"wp-image-188762\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-50-Percent-Pullback-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-50-Percent-Pullback-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-50-Percent-Pullback-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-50-Percent-Pullback.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em><em>Richard created the SP500 Emini charts (Al travelling). Chart time is ET+12 hours.<\/em><\/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\/09\/EURUSD-Daily-Bad-Buy-Signal-Bar-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Bad-Buy-Signal-Bar-680x383.jpg\" alt=\"EURUSD Daily: Bad Buy Signal Bar\" class=\"wp-image-188785\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Bad-Buy-Signal-Bar-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Bad-Buy-Signal-Bar-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Bad-Buy-Signal-Bar-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Bad-Buy-Signal-Bar-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/EURUSD-Daily-Bad-Buy-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 EURUSD formed a bull doji yesterday. While yesterday\u2019s bull doji is a bad buy signal bar, it is also a disappointing follow-through for the bears, which will convince some bears to take partial profits below yesterday.<\/li>\n\n\n\n<li>The bulls hope they can create a major trend reversal after the August 30<sup>th<\/sup> trendline break. However, the bulls&#8217; issue is that the bears are forming a 6-bar bear microchannel. This will increase the odds of any reversal being minor.<\/li>\n\n\n\n<li>The May 31<sup>st<\/sup> low is 60 pips away, and the market may have to reach it before the bulls will come in and begin buying.<\/li>\n\n\n\n<li>It is possible that the market gets near the May 2022 low and reverses up just above it, making traders question if the May low was adequately tested.<\/li>\n\n\n\n<li>Overall, traders should be prepared for the bears to take partial profits below yesterday\u2019s low. However, if there is profit taking below yesterday, any reversal up will likely be limited.<\/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\/09\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-Trending-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-Trending-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Broad Bull Channel Trending Trading Range\" class=\"wp-image-188853\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-Trending-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-Trending-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-Trending-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-Trending-Trading-Range.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Richard created the SP500 Emini charts (Al travelling). Chart time is ET+12 hours.<\/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-500aaca\" data-video=\"https:\/\/www.youtube.com\/watch?v=K2fmQ2zrTV8\" data-block-id=\"500aaca\"><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-41a7d86\" data-block-id=\"41a7d86\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-41a7d86\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-41-a-7-d-86-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-41-a-7-d-86-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-1790a7b\" data-block-id=\"1790a7b\"><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=K2fmQ2zrTV8\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.youtube.com\/watch?v=K2fmQ2zrTV8\" rel=\"noreferrer noopener\">Emini End of Day Review &#8211; Thursday September 7, 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: Thursday September 7, 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 charts (Al travelling). Chart time is ET+12 hours. Here are several reasonable stop entry setups from yesterday. I show each buy [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":188762,"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":[1861,281,60],"class_list":{"0":"post-188640","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-bear-breakout","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\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-50-Percent-Pullback.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\/188640","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=188640"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/188640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/188762"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=188640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=188640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=188640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}