{"id":205792,"date":"2024-04-22T06:15:31","date_gmt":"2024-04-22T13:15:31","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=205792"},"modified":"2024-04-22T22:24:58","modified_gmt":"2024-04-23T05:24:58","slug":"emini-support-5000-likely-to-bounce","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-support-5000-likely-to-bounce\/","title":{"rendered":"Emini Support 5,000 Likely to Bounce"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">End of day video review<\/h2>\n\n\n\n<div class=\"wp-block-stackable-video-popup stk-block-video-popup stk-block stk-6e25836\" data-video=\"https:\/\/www.youtube.com\/watch?v=RqRWVMEcv9A\" data-block-id=\"6e25836\"><div class=\"stk-block-video-popup__overlay stk-row stk-inner-blocks stk-block-content stk-hover-parent\" aria-label=\"Play Video\" tabindex=\"0\" role=\"button\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-center stk-block stk-6d277b9\" data-block-id=\"6d277b9\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-6d277b9\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-6-d-277-b-9-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-6-d-277-b-9-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-880db75\" data-block-id=\"880db75\"><figure><span 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\" \/><\/span><\/figure><\/div>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Trading Update: Monday April 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 sold off last Friday and reached the 5,000 Round Number. This will likely find profit taking a lead to a minor reversal and a bounce lasting at least a day or two. <\/li>\n\n\n\n<li>The daily chart has six consecutive bear bars in a microchannel which is climatic behavior. Every consecutive trend bar added lowers the probability of another consecutive trend bar. The odds are against today becoming the 7<sup>th<\/sup> consecutive bear bar.<\/li>\n\n\n\n<li>There are probably sellers above last Friday\u2019s high. However, with last Friday reaching major support (5,000 Round Number) and the market likely transitioning into a trading range, the bounce could go far above last Friday\u2019s high.<\/li>\n\n\n\n<li>&nbsp;This means a trader selling the high of the prior bar (last Friday\u2019s) increases the risk of getting trapped above a surprise upside breakout.<\/li>\n\n\n\n<li>The odds are that if a trader sells above last Friday\u2019s high, they will make money. However, they must be ready if they get trapped selling low in a trading range.<\/li>\n\n\n\n<li>The bears see the recent selloff as a strong enough breakout for a 2<sup>nd<\/sup> leg down and a test of the January low, bottom of the bull channel.<\/li>\n\n\n\n<li>Overall, the odds favor a pullback lasting a day or two. Traders will pay attention to how determined the bulls are to establish longs. If the bulls are eager to buy, bears will consider waiting for a wedge or test of the moving average before looking to establish shorts. The bears know the recent selloff is likely a minor reversal, which means the market may have to form a major trend reversal.<\/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 up 29 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has rallied sideways to up for most of the overnight session (15-minute chart.<\/li>\n\n\n\n<li>The U.S. Session will have a decent size gap up on the open. The bulls hope the gap-up will lead to a bull trend day.<\/li>\n\n\n\n<li>If today is going to be a trend day, the odds favor a bull trend because of the gap up and reasons mentioned on the daily chart.<\/li>\n\n\n\n<li>There is no rush to enter on the open; if today is going to become a small pullback trend, there will be plenty of time to enter once the trend is clearly underway.<\/li>\n\n\n\n<li>Most traders should be patient on the open and wait for 6-12 bars before placing a trade. It is common for the market to get several reversals on the open before deciding on the direction of the breakout and opening swing.<\/li>\n\n\n\n<li>In general, there is an 80% of a trading range forming on the open and only 20% of a trend from the open. This means traders can often wait for a double top\/bottom or a wedge top\/bottom before the opening swing begins. This is because all trading ranges form a variation of the patterns mentioned above.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Friday&#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-Midday-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-Midday-Reversal-Up-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From Open Midday Reversal Up\" class=\"wp-image-205903\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Up-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Up-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Up-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-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 Friday. 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 continuing to form a tight trading range after the April 12<sup>th<\/sup> downside breakout.<\/li>\n\n\n\n<li>The bears are hopeful that the tight trading range will form a bear flag and lead to a second leg down.<\/li>\n\n\n\n<li>The bulls are hopeful that the April 12<sup>th<\/sup> selloff is a 2<sup>nd<\/sup> leg bear trap, trapping the bears into selling low in a trading range.<\/li>\n\n\n\n<li>Today will probably disappoint the bears, and the downside will be limited.<\/li>\n\n\n\n<li>The bears who sold the low close of the recent selloff are disappointed by the three-bar tight trading range and will likely buy back some of their shorts on a retest, which is what happened last Friday.<\/li>\n\n\n\n<li>Overall, the odds slightly favor the bears getting a larger second leg down. The more buying pressure that the bulls are able to create, the greater the risk a second leg trap will develop.<\/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-Bottom-Then-Small-PB-Bull-Trend.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-Bottom-Then-Small-PB-Bull-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Bottom Then Small PB Bull Trend\" class=\"wp-image-206159\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-Small-PB-Bull-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<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>End of day video review Trading Update: Monday April 22, 2024 S&amp;P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Friday&#8217;s Emini setups Al created the SP500 Emini charts. Here are reasonable stop entry setups from Friday. I show each buy entry bar with a green arrow and [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":205903,"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":[153,136,241],"tags":[281,60,1381],"class_list":{"0":"post-205792","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"category-video","10":"tag-eurusd-forex","11":"tag-sp-emini","12":"tag-testing-support","13":"entry","14":"override","15":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/04\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-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\/205792","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=205792"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/205792\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/205903"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=205792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=205792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=205792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}