{"id":194128,"date":"2023-11-14T06:10:00","date_gmt":"2023-11-14T14:10:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=194128"},"modified":"2023-11-14T21:04:31","modified_gmt":"2023-11-15T05:04:31","slug":"emini-bulls-want-2nd-leg-up-3","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-bulls-want-2nd-leg-up-3\/","title":{"rendered":"Emini Bulls Want 2nd Leg Up"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday November 14, 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 formed a bull follow-through bar after last Friday\u2019s upside breakout of the tight trading range. The Bulls want continued buying and a 2<sup>nd<\/sup> leg up after last Friday.<\/li>\n\n\n\n<li>However, yesterday\u2019s follow-through bar is disappointing. It would have been better for the bulls if the market closed far above last Friday\u2019s high.<\/li>\n\n\n\n<li>While the market is still Always In long and the odds favor a second leg up from the rally up to the October 27<sup>th<\/sup> high, yesterday increases the odds of a pullback.<\/li>\n\n\n\n<li>Even if the odds pull back to around the 4,300 price level, there are still probably buyers not far below. This is due to the bears trapped into a losing short position and the bulls trapped out of a strong upside breakout.<\/li>\n\n\n\n<li>Overall, the bulls want to prevent a deep pullback. This will force the bears to cover their positions with a larger loss and force the bulls trapped out of the market to buy at a higher price. &nbsp;The odds still favor a second leg up and test of the September 1<sup>st<\/sup> start of the bear channel.<\/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>Traders should expect a lot of trading range price action, especially during the first hour of the U.S. Open. This means that most traders should consider not trading for the first 6-12 bars unless they are comfortable with limit orders and scalping.<\/li>\n\n\n\n<li>Most traders should try and catch the opening swing that often begins before the end of the second hour. &nbsp;It is common for the market to form a double bottom\/top, or a wedge bottom\/top.<\/li>\n\n\n\n<li>Traders should pay close attention to the open of the day as it will likely be a magnet for most of the day as bulls and bears fight for control.<\/li>\n\n\n\n<li>Lastly, traders must be open to any possibility and never deny the price action in front of 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\/11\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Bull-Trend-From-The-Open.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Bull-Trend-From-The-Open-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart High 2 Bottom Then Bull Trend From The Open\" class=\"wp-image-194194\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Bull-Trend-From-The-Open-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Bull-Trend-From-The-Open-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Bull-Trend-From-The-Open-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-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 reasonable stop entry setups from yesterday. I show each buy entry bar with a green arrow and each sell entry bar with a red arrow. 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\/11\/EURUSD-Strong-Upside-Breakout-2nd-Leg-Likely.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/EURUSD-Strong-Upside-Breakout-2nd-Leg-Likely-680x383.jpg\" alt=\"EURUSD: Strong Upside Breakout, 2nd Leg  Likely\" class=\"wp-image-194216\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/EURUSD-Strong-Upside-Breakout-2nd-Leg-Likely-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/EURUSD-Strong-Upside-Breakout-2nd-Leg-Likely-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/EURUSD-Strong-Upside-Breakout-2nd-Leg-Likely-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/EURUSD-Strong-Upside-Breakout-2nd-Leg-Likely.jpg 960w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD formed an upside breakout during the early morning report. The odds favored a 2<sup>nd<\/sup> leg after the bull breakout formed two weeks ago.<\/li>\n\n\n\n<li>The bears tried to form a wedge top over the past two months (purple line). However, the bears failed and the market broke out to the upside. <\/li>\n\n\n\n<li>The daily chart is Always In Long and likely to test the August 30<sup>th<\/sup> high sometime soon.<\/li>\n\n\n\n<li>The bears hope they can paint a big tail above today\u2019s high to disappoint the bulls. However, even if today has a tail above the bar, buyers will likely not be far below. This means the downside is probably limited for at least a few bars.<\/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\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-and-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-and-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bull Trend From The Open and Then Trading Range\" class=\"wp-image-194239\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-and-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-and-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-and-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-Bull-Trend-From-The-Open-and-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 charts.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">End of day video review<\/h3>\n\n\n\n<p>End Of Day Review will be presented in the Trading Room today. See below for details on how to sign up.<\/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: Tuesday November 14, 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 reasonable stop entry setups from yesterday. I show each buy entry bar with a green arrow and each sell entry bar with [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":194194,"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":[281,60,1877],"class_list":{"0":"post-194128","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-second-leg","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-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\/194128","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=194128"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/194128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/194194"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=194128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=194128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=194128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}