{"id":203013,"date":"2024-03-22T06:26:38","date_gmt":"2024-03-22T13:26:38","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=203013"},"modified":"2024-03-22T22:32:05","modified_gmt":"2024-03-23T05:32:05","slug":"emini-test-of-bull-trend-channel-line","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-test-of-bull-trend-channel-line\/","title":{"rendered":"Emini Test of Bull Trend Channel Line"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday March 22, 2024<\/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 an upside breakout of the triangle this week and is testing the top of the bull trend channel line.<\/li>\n\n\n\n<li>The bears hope this is an exhaustive bull breakout late in a bull channel.<\/li>\n\n\n\n<li>The breakout is strong enough for at least a small second leg up. This will likely limit the first reversal attempt down.<\/li>\n\n\n\n<li>The bears need to create more selling pressure to convince traders they are gaining control.<\/li>\n\n\n\n<li>The bulls have kept the market above the moving average for a month, which is a sign of strong buying pressure.<\/li>\n\n\n\n<li>The rally that began in early January is creating several open gaps, which is a small pullback bull trend.<\/li>\n\n\n\n<li>As I have said several times, the bears need to get close below the moving average in order for traders to consider that the daily chart is transitioning into a trading range.<\/li>\n\n\n\n<li>The bears managed to stop the buying pressure late yesterday. Next, they will try to create a strong bear close to convince bulls that the market is going to test down to the moving average.<\/li>\n\n\n\n<li>Overall, this week\u2019s rally is strong enough that the odds favor at least a small second leg up. Bears need to get the market below the March 8<sup>th<\/sup> breakout point high and close the gap. This would show that the bulls are losing control. The bears have a long way to go before they will likely be able to take control of the daily chart. A trading range is likely the best they can expect.<\/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 3 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market recently formed a downside breakout around 8 AM EST.<\/li>\n\n\n\n<li>The bears are trying to create a second leg down, and the bulls are hopeful that the selloff is exhaustion late in a bear channel on the 15-minute chart.<\/li>\n\n\n\n<li>Traders should expect a trading range open. This means that most traders should consider being flat for the first 6-12 bars.<\/li>\n\n\n\n<li>Today is Friday, so weekly support and resistance will likely be important. Traders should be prepared for a surprise breakout late in the day as traders decide on the close of the weekly chart.<\/li>\n\n\n\n<li>Yesterday\u2019s low and the open of the day are likely important magnets today that traders should pay attention to.<\/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\/2024\/03\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Midday-Reversal-Down.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Midday-Reversal-Down-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Trading Range Then Midday Reversal Down\" class=\"wp-image-203283\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Midday-Reversal-Down-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Midday-Reversal-Down-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Midday-Reversal-Down-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Midday-Reversal-Down.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<ul class=\"wp-block-list\">\n<li>The EURUSD is getting a second leg down following yesterday\u2019s reversal down.<\/li>\n\n\n\n<li>The bears are hopeful that today will close on its low and increase the odds of a test down to the March 1<sup>st<\/sup> low.<\/li>\n\n\n\n<li>Next, the bears want the breakout below the March 19th low to become a measuring gap leading to a measured move from the March high to the March 19th low, which projects down to the February 14<sup>th<\/sup> low.<\/li>\n\n\n\n<li>The bulls want to form a double bottom higher low major trend reversal at the March 1<sup>st<\/sup> low. However, the selling pressure is growing in strength. This means that the bulls need to show sign of strength and halt the selling if they are going to get a reversal up.<\/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\/2024\/03\/SP500-Emini-5-Min-Chart-Double-Top-Bear-Flag-Then-Trading-Range-Day.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Double-Top-Bear-Flag-Then-Trading-Range-Day-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Double Top Bear Flag Then Trading Range Day\" class=\"wp-image-203360\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Double-Top-Bear-Flag-Then-Trading-Range-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Double-Top-Bear-Flag-Then-Trading-Range-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Double-Top-Bear-Flag-Then-Trading-Range-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Double-Top-Bear-Flag-Then-Trading-Range-Day.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: Friday March 22, 2024 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":203283,"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":[239,281,60],"class_list":{"0":"post-203013","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-bull-channel","10":"tag-eurusd-forex","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Midday-Reversal-Down.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\/203013","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=203013"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/203013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/203283"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=203013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=203013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=203013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}