Curso de Trading do Brooks

Aprenda a operar price action consistentemente

 

More results...

Emini Sideways Likely

By

Trading Update: Thursday February 15, 2024

S&P Emini pre-open market analysis

Emini daily chart

  • The Emini rallied yesterday, creating bad follow-through for the bears. This increases the odds of sideways trading for the next several days.
  • While the selloff on Tuesday was good for the bears, the daily chart has been in a bull trend since early November. This increased the odds of the market going sideways and getting profit-taking at the moving average.
  • The bulls have a High 1 buy signal bar with today’s high. The Bears hope there will be more sellers above its high point than buyers.
  • At the moment, the odds favor the bears getting a second leg down. However, because the market is at the moving average, which is support on the daily chart, the pullback could be very deep before the bears get their second leg down.
  • Overall, traders should expect sideways trading over the next several days.

Emini 5-minute chart and what to expect today

  • The Globex market went mostly sideways during the overnight session.
  • The bulls are hopeful that today, they will continue to rally. However, traders should expect a lot of trading range price action today.
  • This means that traders should pay close attention to the open of the day.
  • Traders should also pay attention to yesterday’s high as it will likely be an important magnet going into the day.
  • Traders should also consider not trading during the first 6-12 bars since the day is likely to form a trading range open.
  • The bulls want today to form a bull trend from the open, which would create a follow-through above yesterday’s High 1 buy signal bar.

Yesterday’s Emini setups

SP500 Emini 5-Min Chart Bull Trap Then Wedge Bottom

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 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.

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.

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.

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.

EURUSD Forex market trading strategies

EURUSD Forex daily chart

  • The EURUSD is getting a strong reversal up after yesterday’s bull reversal bar.
  • The first target for the bulls is the moving average, and the next target is the February 12th high.
  • The bears are hopeful the negative gap created with the January 16th and February 5th breakout is a sign that the market is now in a small pullback bear trend.
  • While the market is in a small pullback bear trend, the bulls are getting a strong reversal bar. This will increase the odds that the market is forming a trading range and that the market will soon begin to go sideways.
  • The bulls ultimately need to get closes above the moving average to convince traders that the market is in a trading range.

Summary of today’s S&P Emini price action

SP500 Emini 5-Min Chart Bear Trap Then Bull Trending Trading Range Day

Al created the SP500 Emini charts.

See the weekly update for a discussion of the price action on the weekly chart and for what to expect going into next week.

Trading Room

Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com trading room days. We offer a 2 day free trial.

Charts use Pacific Time

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 Market Update page.

>