E-mini S&P maintains bull trend despite pullback

Brooks Price Action - 03-11-2013 Monday

pending chart 1934

Trend from the first bar bull, small pullback bull

  • Monday, March 11, 2013
  • Bar 1 - 1 bear bar but still forming higher highs and lows. Wait
  • Bar 4 - Bull outside bar surrounded by inside bars, close near high. Ok swing buy or long but probably better to wait. Might form lower high major trend reversal
  • Bar 9 - Second entry sell lower high major trend reversal but only 2t body and all 9 bars overlap 1. Tight trading range. Wait
  • Bar 16 - Double top lower high major trend reversal but bull body. Don�t sell or short
  • Bar 18 - Bull reversal bar, close on high and above moving average. Possible triangle 3 12. Ok swing buy or long. Range should at least double since small
  • Bar 22 - Fail, failure breakout but doji and 5 bars up so buyers below or buy below and breakout pullback buy or long likely
  • Bar 24 - Two bar revresal, breakout pullback buy or long, 2t tail so weak. Swing buy or long only
  • Bar 36 - Doji iiii, fail, failure breakout high of yesterday, but 14 bar bull microchannel so buyers below or buy below. Should hit at least 17-18t above 18 high for 4 profit target bulls
  • Bar 39 - Mbd, always in long, ok swing buy or long. Not quite to moving average so might have more sideways to down so scalp or swing and maybe part scalp only if swing stop below 23.
  • Bar 41 - Breakout pullback buy or long, always in long, test of moving average. Ok swing buy or long and swing and maybe part scalp. Tight trading range so might get more pullback. Small pullback bull
  • Bar 45 - Second entry sell high of yesterday but 3 dojis. Higher high major trend reversal but nesp so sell or short. Buyers below or buy below, but better to buy or long near moving average. Smallest pb7t since 18.
  • [more Bar-by-Bar Analysis, Daily Webinar and Trading Course info at www.brookspriceaction.com and www.brookstradingcourse.com]
About the Author
Al Brooks

Al Brooks, M.D., is author of the Brooks Trading Course (27 hours of videos at BrooksTradingCourse.com), several books on Price action (Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader, Wiley, 2009, and the 500,000 word, three-book series, Trading Price Action, Wiley, 2012), and numerous articles in Futures Magazine. He also provides live intraday E-mini price action analysis and free end-of-day analysis on www.brookspriceaction.com.

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