{"id":207369,"date":"2024-05-10T06:16:38","date_gmt":"2024-05-10T13:16:38","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=207369"},"modified":"2024-05-10T20:33:57","modified_gmt":"2024-05-11T03:33:57","slug":"emini-follow-through-after-high-1","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-follow-through-after-high-1\/","title":{"rendered":"Emini Follow-through after High 1"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday May 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 formed a strong entry bar following Wednesday\u2019s High 1 buy signal bar. This is good follow-through and increases the odds of higher prices even if there is a pullback fist. <\/li>\n\n\n\n<li>High 1 buy signal bars often lead to a pullback, followed by trend resumption. This means that yesterday trapped into a bad short above Wednesday\u2019s high, and bull\u2019s out of a good long position.<\/li>\n\n\n\n<li>This increases the risk that the market will test Wednesday\u2019s high in the next day or two.<\/li>\n\n\n\n<li>The bull is hopeful that today will form another bull trend bar, which would further increase the odds of higher prices.<\/li>\n\n\n\n<li>The market is getting near the measured move target (5,317) based on the bull breakout of the bear flag (April 19<sup>th<\/sup> low to April 29<sup>th<\/sup> high).<\/li>\n\n\n\n<li>The bears do not mind the rally up to 5,300 as long as the market goes sideways and increases selling pressure.<\/li>\n\n\n\n<li>The bears will see any rally as a potential major trend reversal setup. Next, the bear will want a strong downside breakout below the April 19<sup>th<\/sup> neckline and a measured move down to the January low.<\/li>\n\n\n\n<li>Most major trend reversals are minor reversals that transition the market into a trading range. This means the odds favor a trading range and not a major reversal in a bear trend.<\/li>\n\n\n\n<li>The bulls hope the market will form another small pullback rally, leading to a breakout above the all-time high.<\/li>\n\n\n\n<li>The Bulls want to keep the April 29<sup>th<\/sup> breakout point high open as a sign of bullish strength. The odds favor the market retesting the April 29<sup>th<\/sup> breakout point and closing it.<\/li>\n\n\n\n<li>Breakout points are close in trading ranges, and traders believe that the current rally is a bull leg in a trading range. This means the odds favor the April 20th high getting tested, even if the market first reaches the 5,300 round number.<\/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 15 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market formed a tight trading range for several hours on the 15-minute chart and formed an upside breakout during the early morning hours.<\/li>\n\n\n\n<li>The 15-minute Globex chart has been above the moving average several bars and recently formed a bear bar completely below the moving average, closing on its low. This is a sign that the market is transitioning into a trading range.<\/li>\n\n\n\n<li>At the moment, the Globex range is only 18 points, and the range will likely double during the U.S. Session.<\/li>\n\n\n\n<li>There have only been 2 days out of 22 days with a Globex range (Including U.S. Session) of less than 40 points.<\/li>\n\n\n\n<li>Traders should pay attention to Wednesday\u2019s high as it will likely be a magnet, and the market may try and reach it over the next few days.<\/li>\n\n\n\n<li>As always, traders should expect a lot of trading range price action on the open. This means that traders should consider waiting for 6-12 bars before placing a trade unless they can use wide stops and make quick decisions.<\/li>\n\n\n\n<li>Most traders should try to catch the opening swing that often begins before the end of the second hour after the formation of a double top\/bottom or a wedge top\/bottom.<\/li>\n\n\n\n<li>The reason traders should try to catch the opening swing is because the market often forms one more than 80% of the time, and it often lasts for two hours and two legs. There is also at least a 40% chance that the opening range will more than double during the opening swing.<\/li>\n\n\n\n<li>Today is Friday, so weekly support and resistance are important. Traders should be ready for a surprise breakout late in the day as traders decide on the close of the weekly chart.<\/li>\n\n\n\n<li>The most important thing on the open is to be patient and not in a rush. The longer one waits to place a trade on the open, the more clarity one will gain in regard to the structure of the day.<\/li>\n\n\n\n<li>There is an 80% chance of a trading range open and only a 20% chance of a trend from the open.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Emini Intra-Day Update<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Emini gapped up on the open and formed a trend from the open.<\/li>\n\n\n\n<li>The bulls have four consecutive bull bars. However, 3 out of the 4 have tails above the bars. This increases the odds of a trading range open and the market falling below the bar 1 low.<\/li>\n\n\n\n<li>The bulls are hopeful that today is a trend from the open that will lead to a strong bull trend day; the overlapping bars during the first 4 bars of the day are a warning that a trading range will transition soon. The bears want to test down to yesterday\u2019s high and close the gap.<\/li>\n\n\n\n<li>The odds favor a trading range open. If today is going to become a strong trend, day up or down, there will be plenty of time to enter once the trend is clearly underway.<\/li>\n\n\n\n<li>The Bears got a surprise breakout on bar 7, which was strong enough for a 2<sup>nd<\/sup> leg down.<\/li>\n\n\n\n<li>The market sold off to bar 12, forming a parabolic wedge bottom at yesterday\u2019s high.<\/li>\n\n\n\n<li>The bulls are hopeful that bar 14 is the start of a successful bull reversal and low of the day.<\/li>\n\n\n\n<li>The problem that the bulls have is that the selloff down to the 14 low is in a microchannel. This increases the odds that the first reversal up will be minor and lead to a trading range, and not the start of a bull trend.<\/li>\n\n\n\n<li>The 60-minute chart closed as a strong bear reversal bar. This increases the odds that there will be a second leg down.<\/li>\n\n\n\n<li>Bar 13 triggered the sell below the 60-minute reversal bar and found buyers. However, there are probably sellers near the midpoint of the 60-minute bar (5,253.5). Traders should expect a test of the bar 13 low at some point today. The bulls will try their best to prevent the market from relieving the trapped bears; however, the odds are against it.<\/li>\n\n\n\n<li>Because of the selloff during the first 12 bars, today will likely be a bear trend or a trading range day and not a bull trend day.<\/li>\n\n\n\n<li>Bar 17 is the retest of the Bar 13 low and it went far below it. The bears are trying to get a strong entry bar on the 60-minute chart after the first hours close on low.<\/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\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Wedge Bull Trend From Open\" class=\"wp-image-208279\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-Open-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-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\">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\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From Open Then Trading Range\" class=\"wp-image-208360\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-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: Friday May 10, 2024 S&amp;P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Emini Intra-Day Update 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 [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":208279,"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":[329,60],"class_list":{"0":"post-207369","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-high-1-buy-signal","10":"tag-sp-emini","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Minute-Chart-Wedge-Bull-Trend-From-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\/207369","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=207369"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/207369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/208279"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=207369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=207369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=207369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}