{"id":208313,"date":"2024-05-13T06:20:33","date_gmt":"2024-05-13T13:20:33","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=208313"},"modified":"2024-05-13T22:57:48","modified_gmt":"2024-05-14T05:57:48","slug":"emini-5300-round-number-is-near","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-5300-round-number-is-near\/","title":{"rendered":"Emini 5,300 Round Number Is Near"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Monday May 13, 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 is getting near the 5,300 round number and will probably reach it over the next few days.<\/li>\n\n\n\n<li>The bears do not mind if the market reaches the 5,300 round number as long as they can form a successful major trend reversal and a downside test of the April 19<sup>th<\/sup> low.<\/li>\n\n\n\n<li>Next, the bears will try to get a successful break below the April 19<sup>th<\/sup> neckline and measured move down of the (March 21<sup>st<\/sup> high to the April 19<sup>th<\/sup> low), which projects down to below 4,700.<\/li>\n\n\n\n<li>Without stronger selling pressure, a test of 4,700 is not likely anytime soon.<\/li>\n\n\n\n<li>The rally up to the May high is tight, and the odds favor higher prices.<\/li>\n\n\n\n<li>It is important to realize that a trading range is most likely. This means that the market will likely begin to go sideways soon.<\/li>\n\n\n\n<li>The bulls have a measured move target of 5,317.25 from the bear flag (April 19<sup>th<\/sup> low to the April 29<sup>th<\/sup> high). They will likely reach this target soon.<\/li>\n\n\n\n<li>Since the market is in a trading range, traders will expect a test of the April 29<sup>th<\/sup> breakout point over the next several weeks and for the market to close the breakout point.<\/li>\n\n\n\n<li>Overall, the market is Always In Long within an overall trading range. The bears need to do more to make the market Always In Short.<\/li>\n\n\n\n<li>It is important to realize that an Always In Long market within a trading range vs a trend are two different things.<\/li>\n\n\n\n<li>When a market becomes clearly bullish within a trading range, the upside is usually limited, and the market often gets a deep pullback soon. This means traders should expect the bulls to become disappointed this week by sideways trading or a deep pullback.<\/li>\n\n\n\n<li>Overall, traders should expect the market to get closer to the 5,300 round number. However, the bulls will probably be disappointed soon since the market is in a trading range.<\/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 16 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market on the 15-minute chart has been in a tight bull channel, with most closes above the 20-period moving average.<\/li>\n\n\n\n<li>This increases the odds of sideways to up trading without more selling pressure.<\/li>\n\n\n\n<li>The Bulls recently formed an upside outside up bar at 9:15 AM EST. This increases the odds of sideways trading for the next several bars.<\/li>\n\n\n\n<li>Outside bars are expanding triangles (trading range) on smaller time frames. This increases the odds of sideways trading for at least 1-3 bars.<\/li>\n\n\n\n<li>The market may have to test sideways to down on the open of the U.S. Session.<\/li>\n\n\n\n<li>This means that the upside on the open is likely limited. Traders will pay attention to see what kind of selling pressure the bears can create.<\/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\n\n\n<li>Traders should be patient on the open and consider waiting for 6-12 bars. This is because of the 80% probability of trading range stated above.<\/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 formed a strong bear reversal bar on bar 1, closing on its low.<\/li>\n\n\n\n<li>It is a strong enough bar to likely get a measured move down and at least limit the upside for the next several bars.<\/li>\n\n\n\n<li>Bar 2 is a follow-through bar closing on its low. The market is Always In Short and likely going low.<\/li>\n\n\n\n<li>The bears are hopeful this is the beginning of a bear trend from the open that will lead to a test down to yesterday\u2019s low.<\/li>\n\n\n\n<li>As of bar 3, the market is too strong to be buying to go long, without more buying pressure.<\/li>\n\n\n\n<li>The bears ended up getting the measured move down with bars 1-2 during bar 25.<\/li>\n\n\n\n<li>Bar 25 is disappointing for the bears and increases the odds of sideways trading soon.<\/li>\n\n\n\n<li>The bulls are hopeful that the market will reverse up around bar 27 and test up to the most recent major lower high (bar 22).<\/li>\n\n\n\n<li>Bar 29 is a good reversal bar for the bulls. Next, bull s need strong follow-through breaking above the EMA. Bulls want to reach the major lower high at bar 22.<\/li>\n\n\n\n<li>Bar 29 is a good reversal bar for the bulls. Next, bulls need strong follow-through breaking above the EMA. Bulls want to reach the major lower high at bar 22.<\/li>\n\n\n\n<li>The bears formed a larger 2<sup>nd<\/sup> leg down to bar 45, which was a test of the 60-minute EMA. The Bulls are getting a strong reversal up with bars 46-47. This increases the odds that the market is now in a trading range and going to try and test of to the most recent major lower high, bar 32.<\/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\/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<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<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The bears formed a bear reversal bar on Friday, following Thursday\u2019s bull outside up bar on May 9<sup>th<\/sup>.<\/li>\n\n\n\n<li>The outside up bar was strong enough to expect at least a small 2<sup>nd<\/sup> leg up, which is where the market found buyers today.<\/li>\n\n\n\n<li>The next target for the bulls is the May 3<sup>rd<\/sup> high of the rally.<\/li>\n\n\n\n<li>The Bears want a double top with the May 3<sup>rd<\/sup> high and a credible sell signal bar closing on its low. Next, the bears want a break below the May 9<sup>th<\/sup> neckline and for the market to fall for a measured move down to around the May 1<sup>st<\/sup> low.<\/li>\n\n\n\n<li>The May 1<sup>st<\/sup> low is important because it was a possible higher low major trend reversal. &nbsp;<\/li>\n\n\n\n<li>The problem with this argument is that the May 1<sup>st<\/sup> low is not enough bars to form a credible major trend reversal. This increases the risk that the market will have to test the May 1<sup>st<\/sup> low and create a double bottom higher low major trend reversal. This would be a more credible reversal pattern for the bulls.<\/li>\n\n\n\n<li>The bears are hopeful that the potential double top with the May 3<sup>rd<\/sup> high will lead to a strong downside breakout and trap the bulls. Next, the Bears want a breakout below April 1.<\/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\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-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-Midday-Reversal-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From Open Midday Reversal Then Trading Range\" class=\"wp-image-208604\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-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>Live stream videos to follow Monday, Wednesday and Friday (subject to change).<\/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: Monday May 13, 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 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 each sell [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":208360,"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":[1348,281,60],"class_list":{"0":"post-208313","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-big-round-number","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\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Then-Trading-Range.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\/208313","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=208313"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/208313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/208360"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=208313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=208313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=208313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}