Trading Update: Tuesday June 7, 2022 Emini pre-open market analysis Emini daily chart The market is in a 6-bar tight trading range following the three-bar bull breakout on May 27, and possible bear breakout. This has lowered the probability of bulls getting a measured move up of the 3-bar breakout before getting a deep pullback. […]
Emini will likely test April 18 low this month
Trading Update: Monday June 6, 2022 Emini pre-open market analysis Emini daily chart (brief update) The bulls have a second entry short following the three consecutive bull bar rally up to May 27. This is a reminder that the overall market is in a trading range. The bears are still hopeful that the three bull […]
EURUSD bull reversal bar and major trend reversal
The EURUSD Forex closed as a bull reversal bar on the monthly chart after testing the 2017 low. The bulls want a reversal higher from a lower low major trend reversal bar and a double bottom with the 2017 low.
However, the sell-off since June 2021 has been in a tight bear channel. Odds are, there should be at least a small second leg sideways to down after the pullback because v-bottoms are not common.
Emini bulls need follow through today
Trading Update: Friday June 3, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a strong bull breakout for the bulls, closing above the high of the past three days. The bulls need follow through today to convince traders this is the start of a strong second leg up. More likely, the bulls will […]
Emini bears hopeful for 2nd leg trap
Trading Update: Wednesday June 1, 2022 Emini pre-open market analysis Emini daily chart Emini bears hopeful for 2nd leg trap, wanting a three-bar bull bar rally up to May 27 and a test of the May 25 low. Bulls see the three consecutive bull bars up to May 27 as a strong enough bull breakout […]
Emini possible measured move up and test of April 18 low
Trading Update: Wednesday June 1, 2022 Emini pre-open market analysis Emini daily chart The three consecutive bull breakout bars are strong enough for a second leg up and possible measured move up that would project to around the April 18 low. Bears hope that the three consecutive bull bars are a 2nd leg trap that […]
Emini closed above 9-month trading range low
Trading Update: Tuesday May 31, 2022 Emini pre-open market analysis Emini daily chart The market closed above the 9-month trading range low last Friday, creating a failed bear breakout. The odds are the market will test the middle of the 9-month trading range sometime soon. The bulls got a strong bull breakout above the 20-period […]
EURUSD consecutive bull bars on weekly chart
The EURUSD Forex is reversing up from a trend channel line overshoot and a parabolic wedge. The bulls got consecutive bull bars this week. Odds are a 2 legged sideways to up pullback has begun.
The sell-off since March was very strong. Traders expect at least a small second leg sideways to down after the pullback is over.
Emini bulls likely disappointment today
Trading Update: Friday May 27, 2022 Emini pre-open market analysis Emini daily chart The market reached the May 2nd low (4,056) and will probably get to the February 24th low (4,094.50) soon. The bulls probably need one more strong bull trend bar to convince traders that the bulls have regained control as they did on […]
Emini will likely reach February low
Trading Update: Thursday May 26, 2022 Emini pre-open market analysis Emini daily chart Emini bulls are trying hard to form a bottom and getting enough buying pressure to likely reach February low and the moving average. It looks like the bulls will reach those targets, but it might take until the end of next week. […]
