Brooks: Bar-by-bar breakdown of E-mini's price action

Brooks Price Action Analysis of Tuesday, July 30

pending chart 2251

Lower high major trend reversal, fail, failure wedge bottom, parabolic wedge bottom

  • Tuesday, July 30, 2013
  • Bar 1 - Fail, failure breakout high of yesterday but bull body so probably buyers at the low of week of the bar and probably scaling in lower sellers at the high of the bar and probably scaling in higher
  • Bar 2 - Weak entry bar
  • Bar 3 - Big tail so should test 1 low soon
  • Bar 5 - Or but2t tail so low probability. Trend from the first bar bear so possible sellers at the high of the bar and probably scaling in higher and more sideways
  • Bar 8 - Lower high major trend reversal but doji and tight trading range no scalping with stops
  • Bar 12 - Lhmtr second entry sell but 2t tail, tight trading range. Wait
  • Bar 14 - Db9, moving average but 2t tail. Breakout mode. Wait. Possible trending trading range day
  • Bar 17 - Lower high, but still tight trading range. Better to wait for breakout
  • Bar 18 - Big bear breakout. Ok swing sell or short. Can wait for follow through
  • Bar 19 - Doji follow through so weak, but probably more down. Two legged pullback in a bull move 4 at 60 minute 20 bar exponential moving average but wait for bull breakout to buy or long
  • Bar 20 - Bull inside bar, close on high, h25 at 15 minute 20 bar moving average plotted on a 5 minute chart. Ok swing buy or long, but still always in short
  • [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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