Friday's E-mini price action

January 18, 2016 08:57 AM

The E-mini S&P 500’s dominant price action feature Friday was the trading range price action after a big gap down.

Friday, Jan. 15, 2016

  • Bar 1 - Fail, failure breakout low of yesterday, huge gap, below 60 minimum or minutes mmtgs, above sept low, good buy or long sellers below or probably sellers at the low of the bar, ok swing buy or long for low of the day. Always in long
  • Bar 2 - Follow through but tail. Consecutive bull bars, good all of the bars to the left showing buying and selling pressure, support and resistance, buy below or probably buyers at the low of the bar scaling in lower
  • Bar 3 - Outside up bar but another tail. Might get trading range soon
  • Bar 4 - Two legged pullback in a bear move but 3 big bull bodies. Always in long, stop below 1 or 3. Might get deep pullback and trading range. Low probability short, probably buyers below, and sideways more likely than down
  • Bar 5 - Breakout pullback sell or short from breakout below low of yesterday, two legged pullback in a bear move, ok swing sell or short, but probably buy below or probably buyers at the low of the bar scaling in lower. Might test below 3
  • Bar 6 - Big bear bar, more down
  • Bar 7 - Double bottom 1 but 3 big bear bars, sellers above or probably sellers at the high of the bar scaling in higher, sideways. Probably still always in long
  • Bar 10 - Higher low second entry buy, always in long but middle of tight trading range. Ok swing, stop below 1, but probably more sideways
  • Bar 14 - Breakout pullback buy or long but top of trading range day, limit order market, sellers scaling in above, buyers below, both scalping. Always in long, but need stop below 7. Trading range so better to buy or long lower or after strong breakout
  • Bar 15 - St 4, just below moving average, close on low, ok swing sell or short for high of the day
  • Bar 18 - Follow through, more down, might test 7 low


About the Author

Al Brooks, M.D., is author of the Brooks Trading Course (27 hours of videos at, 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