{"id":213781,"date":"2024-07-31T06:51:08","date_gmt":"2024-07-31T13:51:08","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=213781"},"modified":"2024-07-31T22:28:04","modified_gmt":"2024-08-01T05:28:04","slug":"emini-fail-low-1-setup","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-fail-low-1-setup\/","title":{"rendered":"Emini Failed Low 1 Setup"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday July 31, 2024<\/h3>\n\n\n\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-7d1f22f\" data-video=\"https:\/\/www.youtube.com\/live\/pXLRDEIoVQc\" data-block-id=\"7d1f22f\"><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-04cab55\" data-block-id=\"04cab55\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-04cab55\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-04-cab-55-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-04-cab-55-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-90679ca\" data-block-id=\"90679ca\"><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<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 below Monday\u2019s Low 1, failed and found buyers below it.<\/li>\n\n\n\n<li>Monday\u2019s low 1 was a bad signal bar for the bears, a weak bull bar (Globex Chart).<\/li>\n\n\n\n<li>The context was also not ideal for the bears selling below Monday\u2019s low 1.<\/li>\n\n\n\n<li>The channel up to the July high is tight. This increases the odds of a trading range forming and not a bear trend.<\/li>\n\n\n\n<li>The bears likely need a credible major trend reversal before traders are convinced that they have a shot at a second leg down.<\/li>\n\n\n\n<li>Yesterday formed the third leg of a truncated wedge bottom with the July 19<sup>th<\/sup> low and the July 25<sup>th<\/sup> low. Truncated wedge bottom is when the final leg in the wedge does not go beyond the 2<sup>nd<\/sup> leg and instead forms a higher low. This is a sign of buying pressure and eager traders buying.<\/li>\n\n\n\n<li>The overnight hours formed a strong reversal up on the Globex chart and the market is now testing the July 19<sup>th<\/sup> breakout point low. This breakout point was expected to close because the odds favor a trading range.<\/li>\n\n\n\n<li>The rally up on the daily chart (Globex) is strong enough that the odds favor a couple of legs sideways to up and a test of the 5,600-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>The Globex market had a strong rally during the overnight hours and the U.S. Session opened with a large gap up.<\/li>\n\n\n\n<li>The Gap up is large and climactic. This will increase the odds of sideways trading on the open of the U.S. Session.&nbsp; &nbsp;<\/li>\n\n\n\n<li>Today is an FOMC day, which increases the risk of the open of the U.S. Session having a lot of trading range price action going into the report.<\/li>\n\n\n\n<li>Most traders should consider being out of any positions at least 45 minutes to an hour before the report.<\/li>\n\n\n\n<li>If one is going to trade the report, they should wait for at least 10 minutes to pass once the report is released (2:00 PM EST) before placing a trade. This is because it is common for the initial FOMC bar to reverse.<\/li>\n\n\n\n<li>Traders should also be mindful of risk and make sure to trade small.<\/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 rally up to bar 10.<\/li>\n\n\n\n<li>At the moment, the odds favor a bull trend or a trading range day.<\/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\/07\/SP500-Emini-5-Minute-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\/07\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Bear Trend From Open Then Trading Range\" class=\"wp-image-213970\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-Then-Trading-Range.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Al created the SP500 Emini charts.<\/em><\/p>\n\n\n\n<p class=\"caption wp-block-paragraph\">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 wp-block-paragraph\">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 wp-block-paragraph\">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 wp-block-paragraph\">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 continues to stall at the midpoint of the July rally.<\/li>\n\n\n\n<li>The selloff down from the July high is in a tight bear channel, which increases the odds that there will be sellers above, leading to sideways trading.<\/li>\n\n\n\n<li>The bulls are hopeful that the July high retest will be strong, increasing the odds of a breakout above the July 17<sup>th<\/sup> high.<\/li>\n\n\n\n<li>Overall, the odds favor support and a test up to the July high. The bears need to continue to add to the selling pressure and, ideally, create a double top with the July high. After that, they would have a better chance of getting a successful downside breakout.<\/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\/07\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-and-Expanding-Triangle.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-and-Expanding-Triangle-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Broad Bull Channel and Expanding Triangle\" class=\"wp-image-214020\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-and-Expanding-Triangle-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-and-Expanding-Triangle-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-and-Expanding-Triangle-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-Chart-Broad-Bull-Channel-and-Expanding-Triangle.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Al created the SP500 Emini charts.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><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 class=\"wp-block-paragraph\">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 class=\"wp-block-paragraph\">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 July 31, 2024 End of day video review 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 [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":213970,"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":[281,1393,60],"class_list":["post-213781","post","type-post","status-publish","format-standard","has-post-thumbnail","category-market-update","category-analysis","category-video","tag-eurusd-forex","tag-low-1","tag-sp-emini","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/SP500-Emini-5-Minute-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\/213781","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=213781"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/213781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/213970"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=213781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=213781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=213781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}