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E-mini: Big Trend Day This Week

By Al BrooksStock MarketsMar 15, 2021 10:15AM ET
www.investing.com/analysis/emini-big-trend-day-this-week-200567305
E-mini: Big Trend Day This Week
By Al Brooks   |  Mar 15, 2021 10:15AM ET
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Pre-open Market Analysis

As was likely, Friday pulled back from a new high and a 6-bar bull micro channel on the daily chart.

Also, there were buyers below Friday’s low. Friday is now a High 1 bull flag buy signal bar for today.

The bulls are trying to break above the 3,950 Big Round Number and then the even bigger 4,000 Big Round Number. Will the E-minis go far above 4,000? Too early to tell. However, it should go above Friday’s high, which would trigger the buy signal.

I said that traders would buy the 1st reversal down after a 6-bar bull micro channel in a bull trend. If today goes above Friday’s high, but the E-mini reverses down today or tomorrow, the bears will have a micro double top. If either day closes on its low, there would then be a Low 2 top, as well as a higher high double top with the Feb. 16 high. That would be a credible sell signal.

However, even a good sell signal only has a 40% chance of leading to a trend reversal. Consequently, if the bears get their micro double top, it will more likely be minor. Traders expect a test of 4,000 in March.

The past 2 days were small and had reversals on the 5-minute chart. This is not yet a strong breakout above the Feb. 16 high. It increases the chance that today will be sideways again as well. However, with the E-mini near a critical price (4,000), there is an increased chance of a big trend day in either direction early this week.

Overnight E-mini Globex Trading

The E-mini is down 1 point in the Globex session. If it opens around here, traders will expect today to trade above Friday’s high, which would trigger a High 1 buy signal on the daily chart. But with the E-mini stalling for 2 days at the prior high, traders will look for another sideways day again today. But if there is a series of strong trend bars up or down in the 1st hour, they will switch to swing trading for a possible trend day.

While it is possible for today to break above 4,000, it is unlikely to do so. This is because that is 70 points above, and the average range for the past several days is much less than that. Also, the E-mini has stalled at the February high.

Friday’s Setups

Emini wedge bottom and weak bull channel. An Emini bull flag buy signal.
Emini wedge bottom and weak bull channel. An Emini bull flag buy signal.

Here are several reasonable stop entry setups from Friday. I show each buy entry with a green rectangle and each sell entry with a red rectangle. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a much more detailed explanation of the swing trades for each day (see Online Course/BTC Daily Setups).

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.

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 E-mini.

E-mini: Big Trend Day This Week
 

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E-mini: Big Trend Day This Week

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Comments (2)
behnam yari
behnam yari Mar 16, 2021 5:53AM ET
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"The Surfer Trader" You don't understand what he says I think. After reading his 3 huge books on price action and watching his 200+ video course on price action, I can say Al Brooks is the GOD of trade. Thank you Al.
The Surfer Trader
The Surfer Trader Mar 16, 2021 5:53AM ET
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That's right, I don't understand why he said to short rallies at 3800, and that a 10% correction was coming. Things like these happen every start of the years. Check it.
The Surfer Trader
The Surfer Trader Mar 16, 2021 5:53AM ET
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Also, I would like to understand what kind of technical analysis is "big round number".
behnam yari
behnam yari Mar 16, 2021 5:53AM ET
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The Surfer Trader  Please read Al's 3 best selling books on price action and plus 200 hours video course on the subject, then you know. Al Brooks has his own strategy and his philosophy in trade is unique and hard to acquire. But I can tell he's one of the best in the price action realm if not the best.
The Surfer Trader
The Surfer Trader Mar 16, 2021 5:53AM ET
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I believe in facts not in what you want me to believe. And let me rephrase, not even if you pay me I would read nonsense
behnam yari
behnam yari Mar 16, 2021 5:53AM ET
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The Surfer Trader  I can't tell you anything more. You don't want to understand. I think it'll be better we agree to disagree.
The Surfer Trader
The Surfer Trader Mar 15, 2021 2:04PM ET
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You will probably loose those last hairs in your head being 95% of the times wrong. Never seen no one in my all life being wrong so many times, that was definitely a bad choice in your career.
Show previous replies (4)
The Surfer Trader
The Surfer Trader Mar 15, 2021 2:04PM ET
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So you recognize you don't care about what he says, but if you did you would be losing a lot. And some people do, I believe. Obviously I don't follow too but I think it's an obligation to clarify noobies, I honestly feel that.
behnam yari
behnam yari Mar 15, 2021 2:04PM ET
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I think you don't spend quality time to read his books and watch his video courses on price action. You just looking for signals. Do not blacken Al's reputation. His the GOD of price action.
The Surfer Trader
The Surfer Trader Mar 15, 2021 2:04PM ET
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Man, I would not spend one minute on it even if you pay me a good amount. I'm lucky to be one of the successful traders, I used to be a Private Banker in a big bank but fortunately I work for me now. I can help you if you need. Cheers.
John Quinn
John Quinn Mar 15, 2021 2:04PM ET
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John Quinn
John Quinn Mar 15, 2021 2:04PM ET
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behnam yari  Actually I read Al Brooks' price action book some years ago after hastily reading some online reviews not realizing they were written by bots.  As someone who trades intra day for a living for many years I can tell you that there's zero value there once you see past the hustle.  He's takes basic chart/candle patterns and  renames them in his own very confusing jargon.  I guess so it seems original or that he's on to something.  He's not.
 
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