Analyzing Tuesday's E-mini price action: Brooks

Brooks Price Action Analysis for Tuesday, Feb. 25

pending chart 2656

Opening reversal, wedge bottom and test low of yesterday, higher low major trend reversal, lower high major trend reversal, wedge bottom

  • Tuesday, February 25, 2014
  • Bar 1 - Opening reversal near moving average, breakout pullback sell or short, always in short, but 60 minute 20 bar exponential moving average, 78 sell climax so low probability and swing only. Trendlines below. Trading range likely after bars up breakout and possible inside day
  • Bar 3 - Bear follow through, but tail and possible lower low major trend reversal. Still always in short. Probably sell above or sellers at the high of the bar and probably scaling in higher, but ok swing buy or long for possible low of the day. Sideways likely soon
  • Bar 8 - Wedge 79 3, trendline, test low of yesterday, measured move 78, micro double bottom, but trend from the first bar bear, 6 bars down, weak sell below or sellers below or signal bar so sell above or sellers at the high of the bar and probably scaling in higher. Low probability buy or long and sell or short, but possible low of the day. Better to wait for two legged pullback in a bear move to sell or short or for strong bull breakout to buy or long. Sideways likely
  • Bar 10 - Big bull bar, close on high, strong 8, probably always in long, possible low of the day, but might test down since not strong sell below or sellers below or signal bar 6-8
  • Bar 11 - Double top 1 but low probability and probably buy below or buyers at the low of the bar and probably scaling in lower so swing sell or short only. Probably buy below or buyers at the low of the bar and probably scaling in lower, then two legs up
  • Bar 13 - Breakout pullback buy or long, always in long, but doji, big bear bar. Ok swing buy or long but sideways likely since multiple reversals. Bulls need to get above 2 top of bear spike and bears need to get below 8 bottom of bull spike. Always in long, but breakout mode
  • Bar 15 - Possible triangle 1 11, always in long, but breakout mode
  • Bar 18 - Fail, failure breakout possible triangle and top of tight trading range, two legged pullback in a bear move 11, but 1t bull doji so swing sell or short for test 12 low and low of the day or wait. Still always in long
  • Bar 20 - Fail, failure breakout 16, always in long, higher probability to wait for breakout
  • Bar 21 - Strong breakout, probably two legs up
  • Bar 23 - Two legged pullback in a bear move 11 or 18, parabolic wedge 11 18, but strong breakout so buy below or buyers at the low of the bar and probably scaling in lower for two legs up. Better to wait for a strong bear breakout or second entry sell
  • [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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