{"id":217063,"date":"2024-09-09T06:16:58","date_gmt":"2024-09-09T13:16:58","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=217063"},"modified":"2024-09-09T21:11:28","modified_gmt":"2024-09-10T04:11:28","slug":"emini-second-leg-down-after-pullack","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-second-leg-down-after-pullack\/","title":{"rendered":"Emini Second Leg Down after Pullback"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Monday September 9, 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-b9f3939\" data-video=\"https:\/\/www.youtube.com\/watch?v=TwO3OKNkKgg\" data-block-id=\"b9f3939\"><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-b5e80c3\" data-block-id=\"b5e80c3\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-b5e80c3\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-b-5-e-80-c-3-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-b-5-e-80-c-3-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-c7cd3cb\" data-block-id=\"c7cd3cb\"><figure><span class=\"stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-216272\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone.png\" width=\"1280\" height=\"720\" alt=\"Emini EOD Review Joseph Imbornone\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone.png 1280w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-768x432.png 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/span><\/figure><\/div>\n<\/div><\/div>\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 formed a downside breakout last Friday, closing on its low. This increases the risk of lower prices and the bears getting a second leg down.<\/li>\n\n\n\n<li>The next target for the bears is the August low. They want a double top with the July high and a break below the neckline (August low), followed by a measured move down.<\/li>\n\n\n\n<li>Because the risk is getting big for the bears and the market is in the middle of a trading range, the bears may take partial profits, causing the market to pull back.<\/li>\n\n\n\n<li>Yesterday\u2019s breakout bar is a surprise; surprises typically get second legs.<\/li>\n\n\n\n<li>Bulls want to prevent the market from falling below the August low. They want to continue to create higher lower and higher highs on the daily chart.<\/li>\n\n\n\n<li>Overall, the odds favor the bears getting a second leg down, even if the bulls can create a rally lasting a couple of legs.<\/li>\n\n\n\n<li>The bear breakout to last Friday\u2019s low is strong and the overall context of the daily chart is a trading range. This increases the odds that there are sellers above, scaling in higher.<\/li>\n\n\n\n<li>Overall, because last Friday\u2019s breakout bar was climactic, the odds that today will disappoint the bears increase. This means that today, there will probably not be a strong bear breakout bar; instead, it will form a doji or a bull bar. A Climactic bar typically leads to a pause in the selling, not a reversal. This means that a pullback is more likely than a reversal.<\/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 30 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Globex market has been in a tight bull channel on the 15-minute chart for most of the overnight session.<\/li>\n\n\n\n<li>This means that the open will have a lot of trading range price action and not form a trend from the open.<\/li>\n\n\n\n<li>Traders should expect a trading range open. This means the market will probably form a double top\/bottom or a wedge top\/bottom during the first two hours.<\/li>\n\n\n\n<li>A trading range always consists of a variation of one of the above-mentioned patterns.<\/li>\n\n\n\n<li>The open usually sets up an opening swing before the end of the second hour. This means that a trader can wait for a double top\/bottom or a wedge top\/bottom before placing a stop entry to try and catch the opening swing.<\/li>\n\n\n\n<li>The opening swing is important because it can last a few hours and sometimes double range, leading to a great risk\/reward.<\/li>\n\n\n\n<li>There is no rush to do anything on the open. This means that traders should consider not trading the first 6-12 bars unless they can make quick decisions. This is because the open often has several reversals in order to create a trading range open.<\/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\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-and-Then-a-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-and-Then-a-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Bear Trend From Open Then Trading Range\" class=\"wp-image-217243\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-and-Then-a-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-and-Then-a-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-and-Then-a-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-and-Then-a-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 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 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\">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\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Wedge Bottom Then Small PB Bull Trend\" class=\"wp-image-217544\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Wedge-Bottom-Then-Small-PB-Bull-Trend.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: Monday September 9, 2024 End of day video review S&amp;P Emini market analysis Emini daily chart Emini 5-minute chart and what to expect today 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 [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":217243,"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":[281,1347,60],"class_list":["post-217063","post","type-post","status-publish","format-standard","has-post-thumbnail","category-market-update","category-analysis","category-video","tag-eurusd-forex","tag-pullback","tag-sp-emini","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/SP500-Emini-5-Minute-Chart-Bear-Trend-From-Open-and-Then-a-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\/217063","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=217063"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/217063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/217243"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=217063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=217063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=217063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}