{"id":214917,"date":"2024-08-16T07:36:17","date_gmt":"2024-08-16T14:36:17","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=214917"},"modified":"2024-08-16T21:45:28","modified_gmt":"2024-08-17T04:45:28","slug":"emini-likely-to-end-micro-channel-soon","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-likely-to-end-micro-channel-soon\/","title":{"rendered":"Emini Likely to End Micro Channel Soon"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday August 16, 2024<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P Emini 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 gapped up and formed a bull bar closing on its high. The daily chart is in a 9-bar bull micro channel. This increases the odds that today or tomorrow will end the microchannel and fall below the prior day\u2019s low.<\/li>\n\n\n\n<li>The bears are hopeful that the recent rally on the daily chart is a buy vacuum test of the 5,600 round number. Next, they are hopeful that the bears will be able to accumulate selling pressure, increasing the odds of a reversal down.<\/li>\n\n\n\n<li>Without more selling pressure, the best the bears can likely get is sideways.<\/li>\n\n\n\n<li>The daily chart is in a trading range, and the market is now in a high range. This means that the bulls will likely become disappointed at this price level.<\/li>\n\n\n\n<li>Because the rally up is strong, the odds favor a second leg up. However, since the market is high in a trading range, the bulls risk having to hold through a deep pullback before they get their second leg up.<\/li>\n\n\n\n<li>The bears are hopeful that the recent rally is forming a double top with either the August 1st high or the July 16<sup>th<\/sup> high.<\/li>\n\n\n\n<li>Overall, the first reversal down will likely fail and lead to a second leg up.<\/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 gapped down 14 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market went sideways to up for most of the overnight session before selling off in a tight bear channel down to 8:45 AM EST.<\/li>\n\n\n\n<li>While the 8:45 AM selloff was strong, the context was bad for the bears, and the odds favored a trading range more than a bear trend. This meant there were likely buyers below scaling in lower, which is why the market rallied to the bar 10 high.<\/li>\n\n\n\n<li>Emini is trying to form a parabolic wedge with bar 10 and test down to the bar 1 low.&nbsp; It is reasonable for Always In Bulls to exit below the bar 11 low.<\/li>\n\n\n\n<li>Bears will sell below bar 11, expecting two legs down.<\/li>\n\n\n\n<li>The bears have a 4-bar bear microchannel with bar 14. While the selloff below the bar 11 low has a lot of overlap, the bears are beginning to take control of the market. This increases the odds of lower prices and a test below the bar 1 low.<\/li>\n\n\n\n<li>The bears are hopeful that they can get a strong downside breakout and reach yesterday\u2019s low at 5,526.25. This would end the 9-bar bull micro channel streak on the daily chart.<\/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\/08\/SP500-Emini-5-Min-Chart-Double-Bottom-and-Then-Small-PB-Bull-Trend.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Double-Bottom-and-Then-Small-PB-Bull-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Double Bottom and Then Small PB Bull Trend\" class=\"wp-image-215230\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Double-Bottom-and-Then-Small-PB-Bull-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Double-Bottom-and-Then-Small-PB-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Double-Bottom-and-Then-Small-PB-Bull-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Double-Bottom-and-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 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\/08\/SP500-Emini-5-Min-Chart-Higher-Low-DB-Then-Trending-Trading-Range-Day.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Higher-Low-DB-Then-Trending-Trading-Range-Day-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Higher Low DB Then Trending Trading Range Day\" class=\"wp-image-215330\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Higher-Low-DB-Then-Trending-Trading-Range-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Higher-Low-DB-Then-Trending-Trading-Range-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Higher-Low-DB-Then-Trending-Trading-Range-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Higher-Low-DB-Then-Trending-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<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 August 16, 2024 S&amp;P Emini 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 each sell entry bar with a [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":215230,"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":[281,347,60],"class_list":{"0":"post-214917","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-eurusd-forex","10":"tag-micro-channel","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/SP500-Emini-5-Min-Chart-Double-Bottom-and-Then-Small-PB-Bull-Trend.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\/214917","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=214917"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/214917\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/215230"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=214917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=214917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=214917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}