Trading range contains price action in E-mini: Brooks

Brooks Price Action Analysis of Wednesday, Sept. 25

pending chart 2335

Trend from the first bar bear, expanding triangle bottom, wedge top, lower high major trend reversal, double bottom, trading range day

  • Wednesday, September 25, 2013
  • Bar 1 - Yesterday ended with bear breakout. Breakout pullback sell or short, possible trend from the first bar bear. Ok swing sell or short. Pink line = bottom of gap on daily
  • Bar 2 - Final flag 81, double bottom 10, but 2 bear bars so sellers at the high of the bar and probably scaling in higher
  • Bar 3 - Breakout pullback sell or short but doji, just above support = low of yesterday, trendline so low probability. Probably buyers at the low of week of the bar and probably scaling in lower
  • Bar 4 - Expanding triangle over 3 days, so lower low major trend reversal, second entry buy low of yesterday, but big doji and tight trading range so low probability and swing only or wait. Stop below 4
  • Bar 6 - L23 but tight trading range no scalping with stops. Probably buyers at the low of week of the bar and probably scaling in lower
  • Bar 7 - Close below 6 high so weak bulls, but probably always in long since 6. Bulls will exit below 7 and bears will sell or short since wedge 3 6 7
  • Bar 9 - Tight trading range so limit order order market. Traders keep buying below lows and scaling in and scaling in above highs
  • Bar 10 - Breakout sell or short but bull bar and bottom of weak channel so probably buyers at the low of week of the bar and probably scaling in lower
  • Bar 11 - Expanding triangle 2 4, nested in 3 day expanding triangle. Possible always in long but eed 1 more bull bar
  • Bar 12 - Strong bull bar, always in long, swing stop below 11 or 12
  • Bar 13 - Close on high, more up, but expanding triangle bar flag usually follows expanding triangle bottom
  • [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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