{"id":211183,"date":"2024-06-24T06:32:37","date_gmt":"2024-06-24T13:32:37","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=211183"},"modified":"2024-06-24T21:05:12","modified_gmt":"2024-06-25T04:05:12","slug":"emini-support-at-5500-round-number","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-support-at-5500-round-number\/","title":{"rendered":"Emini Support at 5,500 Round Number"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Monday June 24, 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 doji bar last Friday after failing to break below Last Thursday\u2019s weak bear bar.<\/li>\n\n\n\n<li>While the bears have managed to disappoint the bulls after the June 17<sup>th<\/sup> bull breakout, the channel up is tight. This will increase the probability that the market will have to go sideways for several bars before the bears can get a reasonable chance of a second leg down.<\/li>\n\n\n\n<li>The bulls are hopeful that last Thursday\u2019s outside down breakout is disappointing enough that there are buyers below it. Next, they want the market to exceed last week&#8217;s high.<\/li>\n\n\n\n<li>Since last Friday was a weak doji bar, buyers are probably below it, scaling in lower. This means that traders will look to see how the market responds to a test of its low if it gets there today or tomorrow.<\/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 5 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has gone sideways for most of the overnight session.<\/li>\n\n\n\n<li>The bears are trying to get a downside breakout below Sunday\u2019s Globex session low, and the bulls want to prevent it.<\/li>\n\n\n\n<li>At the moment, the market is unlikely to get a large gap on the open. This will increase the odds of trading range price action on the open.<\/li>\n\n\n\n<li>As I often say, most traders will be better off waiting for 6-12 bars before placing a trade unless they are able to make quick decisions.<\/li>\n\n\n\n<li>Most traders should wait for the opening swing to develop, which often begins before the end of the second hour, after the formation of a double top\/bottom or a wedge top\/bottom.<\/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 bull trend from the open and a strong rally to bar 8.<\/li>\n\n\n\n<li>The rally to bar 8 is strong enough that buyers are likely below, even if the pullback is deep.<\/li>\n\n\n\n<li>The bears formed a reversal down to bar 12, and they are hopeful they will be able to cause the bulls to give up.<\/li>\n\n\n\n<li>It was reasonable to buy the close of bar 8; therefore, the market will probably have to test the close of bar 8 before the bears can get a credible reversal down.<\/li>\n\n\n\n<li>This reduces the probability of the bears getting a successful reversal down without a test of the bar 8 close first.<\/li>\n\n\n\n<li>The selloff down to bar 12 is strong enough that bulls who bought the bar 8 high close are disappointed and will probably look to exit on a test of the 8 close.<\/li>\n\n\n\n<li>If the bulls can get a strong rally during the test of the 8 close, that could increase the chances of the market breaking out above bar 8.<\/li>\n\n\n\n<li>At the moment, the pullback from bar 8 is enough to make the market a trading range and increase the risk of sellers around the bar 8 close.<\/li>\n\n\n\n<li>Bar 16 was good for the bears, however it is not enough to create a sell the close selloff. Bears likely exit above bar 17, too much risk of a Trading range and test of bar 18. <\/li>\n\n\n\n<li>Bar 27, the market is forming a tight trading range just below the bar 8 buy the close bar. The odds still slightly favor a test of the bar 8 close. However, every bar that goes sideways, makes the market close to 50% probability. <\/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\/06\/SP500-Emini-5-Minute-Sell-Climax-and-Then-Trading-Range-Day.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Sell-Climax-and-Then-Trading-Range-Day-680x383.jpg\" alt=\"SP500 Emini 5-Minute Sell Climax and Then Trading Range Day\" class=\"wp-image-211247\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Sell-Climax-and-Then-Trading-Range-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Sell-Climax-and-Then-Trading-Range-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Sell-Climax-and-Then-Trading-Range-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Sell-Climax-and-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<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 sold off last Friday, testing the June 14<sup>th<\/sup> low.<\/li>\n\n\n\n<li>The odds favored buyers on the retest of the June 14<sup>th<\/sup> low, which increased the odds of a bounce and the bears becoming disappointed with last Friday\u2019s selloff.<\/li>\n\n\n\n<li>The bull has done a good job today getting a rally.<\/li>\n\n\n\n<li>Next, the bulls need to demonstrate signs of strength by getting a strong bull close today.<\/li>\n\n\n\n<li>Ideally, the bulls would get follow-through buying tomorrow as well.<\/li>\n\n\n\n<li>Since the daily chart is in a trading range, the odds favor the bulls getting disappointed with either today\u2019s bull close or the follow-through over the next day or two.<\/li>\n\n\n\n<li>The daily chart is likely in a trading range and has had three attempts down since the June 7<sup>th<\/sup> selloff. This increases the odds of a reversal up and a sideways to up rally lasting at least a couple of days. &nbsp;<\/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\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Bear-Channel.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Bear-Channel-680x383.jpg\" alt=\"SP500 Emini 5-Minute Buy Climax and Then Bear Channel\" class=\"wp-image-211486\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Bear-Channel-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Bear-Channel-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Bear-Channel-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/06\/SP500-Emini-5-Minute-Buy-Climax-and-Then-Bear-Channel.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: Monday June 24, 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":211247,"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-211183","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\/06\/SP500-Emini-5-Minute-Sell-Climax-and-Then-Trading-Range-Day.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\/211183","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=211183"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/211183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/211247"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=211183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=211183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=211183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}