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* Traders should expect trading range price action on the open and possibly sideways to down and test the moving average<ref>''https://www.brookstradingcourse.com/analysis/emini-strong-globex-session-reversal/''</ref>. For e.g. [[20220309]]. | * Traders should expect trading range price action on the open and possibly sideways to down and test the moving average<ref>''https://www.brookstradingcourse.com/analysis/emini-strong-globex-session-reversal/''</ref>. For e.g. [[20220309]]. | ||
* [Often, traders want to buy '''around the moving average''' when the market gaps up, and the price action is not as strong on the open as today (market went sideways). When the price reverses just above the moving average, traders will expect to have to reach the moving average soon. (''This caused traders to hesitate to buy around 8:00 AM PT when the market went sideways. [[20220316]]'')] | * [Often, traders want to buy '''around the moving average''' when the market gaps up, and the price action is not as strong on the open as today (market went sideways). When the price reverses just above the moving average, traders will expect to have to reach the moving average soon. (''This caused traders to hesitate to buy around 8:00 AM PT when the market went sideways. [[20220316]]'')] | ||
* If bulls able to get consecutive buy climaxes, [traders will expect that the consecutive buy climaxes would lead to a test of the moving average sometime during the day. (''as it did with the three large consecutive bear bars around 9:00 PT. 20220316'')], in anther words, [when you have a strong bull breakout on the open especially following a buy climax (such as 2+ especially big bull bars), the probability is not as high as it appears for the bulls getting a '''second leg up''', because it increases the odds of the bulls becoming exhausted and the market going sideways to the moving average. Remember that on the open, there is a 50% probability that there will be a major reversal, such as what happened on bar 3(20220321)]. | * If bulls able to get consecutive buy climaxes, [traders will expect that the consecutive buy climaxes would lead to a test of the moving average sometime during the day. (''as it did with the three large consecutive bear bars around 9:00 PT. [[20220316]]'')], in anther words, [when you have a strong bull breakout on the open especially following a buy climax (such as 2+ especially big bull bars), the probability is not as high as it appears for the bulls getting a '''second leg up''', because it increases the odds of the bulls becoming exhausted and the market going sideways to the moving average. Remember that on the open, there is a 50% probability that there will be a major reversal, such as what happened on bar 3(20220321)]. | ||
* [The bears know they will likely not be able to reverse the gap up, so they will try and damage the rally today as much as possible. One way would be to close today as a big bear bar]. e.g. 20220309 | * [The bears know they will likely not be able to reverse the gap up, so they will try and damage the rally today as much as possible. One way would be to close today as a big bear bar]. e.g. 20220309 | ||
* [the day session may be small since the bulls may be exhausted]. e.g. 20220309 | * [the day session may be small since the bulls may be exhausted]. e.g. 20220309 |