Surge highlights price action in E-mini S&P 500: Brooks

Brooks Price Action Analysis for Thursday, Feb. 13

pending chart 2628

Trend from the first bar bull, fail, failure wedge top, buy climax,

  • Thursday, February 13, 2014
  • Bar 1 - Fail, failure breakout low of yesterday but tail, 60 minute 20 bar exponential moving average, probably sellers at the high of the bar and probably scaling in higher. 60 minimum or minutes twenty gap bars buy or long. Ok swing, better to wait
  • Bar 2 - Small gap, but tail. 2 bull bars so always in long, buyers at the low of the bar and probably scaling in lower, but tails so sideways likely
  • Bar 3 - 3rd consecutive bull bar, buyers at the low of the bar and probably scaling in lower, always in long, swing or wait, stop below 1. Tails, probably sideways
  • Bar 5 - Breakout but tail. Probably buyers at the low of the bar and probably scaling in lower, stop below 1 2 or 4
  • Bar 6 - Doji so possible sellers at the high of the bar and probably scaling in higher but 6 consecutive bull bars so better to only look to buy or long
  • Bar 8 - Big breakout, more up, but possible exhaustion gap and sideways soon. Less likely, measuring gap
  • Bar 9 - Breakout pullback buy or long but bear bar so scalp or wait. Back in yesterday trading range so probably sellers at the high of the bar and probably scaling in higher and then tight trading range
  • Bar 12 - One bar final flag, 2brr, two inside bars, but 10 bar microchannel so buyers at the low of the bar and probably scaling in lower. Probably tight trading range and limit order order market. Stop below 8 or 5
  • Bar 14 - Breakout pullback buy or long, always in long, target high of the day. Ok buy or long with swing stop, but might stay in tight trading range for hours. Sellers at the high of the bar and probably scaling in higher, but better to only buy or long when this strong until clearly 2 sided
  • Bar 17 - Strong breakout, more up, but top of yesterday trading range so might pullback soon
  • Bar 19 - Final flag 14, fail, failure breakout yesterday trading range, micro double top, possible high of the day, but low probability. Better to wait for a strong bear breakout or second entry sell. Always in long but top of trading range so bulls need wide stop and scale in . Low probability buy or long up here
  • [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.

Originally published on BPA Forums. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome