{"id":204958,"date":"2024-04-10T06:20:56","date_gmt":"2024-04-10T13:20:56","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=204958"},"modified":"2024-04-10T22:58:03","modified_gmt":"2024-04-11T05:58:03","slug":"emini-bears-want-second-leg-down-3","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-bears-want-second-leg-down-3\/","title":{"rendered":"Emini Bears Want Second Leg Down"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday April 10, 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 sold off yesterday, testing last Thursday\u2019s close. However, the market failed to break below last Thursday&#8217;s Low. At the moment, the odds favor a second leg down after last week.<\/li>\n\n\n\n<li>However, the bears were so disappointed by the deep pullback that many were happy to exit near breakeven on their first entry with a profit on any scale in the entry.<\/li>\n\n\n\n<li>Last Thursday is a strong enough surprise that the odds favor a second leg down.<\/li>\n\n\n\n<li>The market is in a trading range, which increases the risk of the pullback being deeper than what traders want.<\/li>\n\n\n\n<li>Because last week\u2019s breakout was the first close below the daily chart moving average since January, the odds favored buyers at the moving average.<\/li>\n\n\n\n<li>The daily chart is in a bull channel, and it is important to realize that channels convert into trading ranges 75% of the time. This means that the odds favor the test of prior higher lows over the next several months.<\/li>\n\n\n\n<li>The bears want the market to get down to the January 5<sup>th<\/sup> low, which is the bottom of the bull channel.<\/li>\n\n\n\n<li>Overall, traders should expect a second leg down and a test below last Thursday\u2019s bear breakout bar.<\/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 77 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market formed a strong downside breakout bar during the 8:30 AM EST report.<\/li>\n\n\n\n<li>The report bar is enough of a surprise to expect a second leg down.<\/li>\n\n\n\n<li>The market is likely to have a large gap down on the opening of the U.S. Session.<\/li>\n\n\n\n<li>The bears are hopeful that today will be a bear trend day, and the bears will get a large second led down during the U.S. Session.<\/li>\n\n\n\n<li>The odds are the open will form a trading range, and the market will have to get closer to the moving average.<\/li>\n\n\n\n<li>If today is going to be a bear trend day, the odds favor a bear trend due to the large gap down.<\/li>\n\n\n\n<li>Most traders should wait for 6 \u2013 12 bars before placing a trade unless they can make quick decisions.<\/li>\n\n\n\n<li>The bars are likely going to be big today, so traders must be mindful of risk and, if in doubt, trade 20% of their normal position size.<\/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\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Reversal-Up.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Reversal-Up-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From Open and Then Reversal Up\" class=\"wp-image-205186\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Reversal-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Reversal-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Reversal-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Reversal-Up.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 formed a downside breakout today, testing the April low.<\/li>\n\n\n\n<li>The bears are hopeful that today is strong enough for a second leg down. However, as strong as today\u2019s bear breakout is, it is at the bottom of a trading range. This will increase the odds that the Bears are going to be disappointed with the second leg down.<\/li>\n\n\n\n<li>Today is enough of a surprise that traders will expect a second leg down.<\/li>\n\n\n\n<li>The bulls need to prevent tomorrow from getting a strong follow-through bar. However, even if tomorrow is a bull reversal bar, the odds favor sellers above.<\/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\/04\/SP500-Emini-5-Min-Chart-Wedge-Rally-to-EMA-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Rally-to-EMA-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Rally to EMA Then Trading Range\" class=\"wp-image-205221\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Rally-to-EMA-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Rally-to-EMA-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Rally-to-EMA-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Rally-to-EMA-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<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 April 10, 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":205186,"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-204958","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\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-and-Then-Reversal-Up.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\/204958","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=204958"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/204958\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/205186"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=204958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=204958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=204958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}