Trading Update: Thursday May 5, 2022 Emini pre-open market analysis Emini daily chart The bulls got a strong bull breakout following FOMC report, with likely follow-through after FOMC rally yesterday, over the next several days. Yesterday was a surprise bull breakout, which means that the odds favor at least a second leg up and that […]
Emini bulls want strong breakout or consecutive trend bars
Trading Update: Wednesday May 4, 2022 Emini pre-open market analysis Emini daily chart Update: I forgot to mention today is an FOMC day. Traders should exit any intraday trade 1 hour before report is released. The bulls want a strong breakout or at least consecutive trend bars to make the market always in long and […]
Emini bulls want strong entry bar today
Trading Update: Tuesday May 3, 2022 Emini pre-open market analysis Emini daily chart The Emini broke below the February low yesterday and reversed up as a bull bar closing near its high. The bulls want a strong entry bar today, increasing the odds that the market reaches the April 18 low (4,364.5) and possibly higher. […]
Emini likely to reach February low this week
Trading Update: Monday May 2, 2022 Emini pre-open market analysis Emini daily chart Emini closed near its low last Friday, creating a strong bear close on the weekly chart The market is close enough and likely to reach February low (4,100.25) sometime this week. Bulls want to prevent the bears from reaching the February low […]
EURUSD Forex parabolic wedge & trend channel line overshoot
The EURUSD Forex broke below March 2020 low. The next target for the bears is the 7-year trading range low. The sell-off is in a tight channel which means strong bears.
The monthly and weekly candlestick overshoot the trend channel line this week. There is also a parabolic wedge on the chart. While lower price is slightly more likely, traders should be prepared for a 2 legged sideways to up pullback (bounce) which can begin at any moment.
Emini bulls want test of April 18 low
Trading Update: Friday April 29, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a reminder that the market is in a trading range, and the bulls want test of the April 18 low soon, which is the breakout below the wedge bottom. The bulls had a micro double bottom (April 25 and April […]
Emini likely to bounce and test April 25 close
Trading Update: Thursday April 28, 2022 Emini pre-open market analysis Emini daily chart Emini likely to bounce and will probably get back to the April 25 close. This is because some bulls who bought before the April 25 signal bar triggered (or during the Globex session, which it did trigger) would be willing to buy […]
Emini bulls want micro double bottom and bounce
Trading Update: Wednesday April 27, 2022 Emini pre-open market analysis Emini daily chart The Emini bulls want a micro double bottom and bounce today. They will likely get a bull close due to the bears reaching the target of the March 14 low. If today closes near its high, it could set up a credible […]
Emini bulls want follow-through and second leg trap
Trading Update: Tuesday April 26, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a strong bull reversal bar on the daily chart. Emini bulls want follow-through today, hoping yesterday will lead to a second leg trap. They want a reversal up to close the gap at the April 18 low and ultimately get […]
Emini bear breakout below wedge bottom
Trading Update: Monday April 25, 2022 Emini pre-open market analysis Emini daily chart Emini bear breakout below wedge bottom. The bears now have two consecutive bear bars, one completely below the moving average. Right now, there is at least a 60% chance the bears will get some kind of measured move down. The bulls tried […]