![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2020\/10\/Emini-bull-channel-and-trading-range-breaakout.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nHere are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell entry with a red rectangle. I rarely also show limit order entries and entries on the close of bars. I do not want the lines to be distracting. If they are longer, I make them dotted. But, they have to be visible, so I make the shorter ones solid. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a much more detailed explanation of the swing trades for each day (see Online Course\/BTC Daily Setups).<\/p>\n\n\n\n
My goal with these charts is to present an Always In perspective. If a trader was trying to be Always In or nearly Always In a position all day, and he was not currently in the market, these entries would be logical times for him to enter.<\/p>\n\n\n\n
If the risk is too big for your account, you should wait for trades with less risk or trade an alternative market like the Micro Emini.<\/p>\n\n\n\n
EURUSD Forex market trading strategies<\/h2>\n\n\n\n![\"EURUSD](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2020\/10\/EURUSD-Forex-small-pullback-bull-trend-but-might-form-lower-high-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nThe EURUSD Forex market on the daily chart has been rallying in a Small Pullback Bull Trend for 2 weeks after reversing up from below a trading range. The bulls want this to be a resumption of the 4-month bull trend. They need a breakout above the September 10 lower high to end the 2-month bear trend. The chart would then be back in trading range mode or in a bull trend.<\/p>\n\n\n\n
The bears always want the opposite. They know that a reversal up from a sell climax usually tests the start of the sell climax. They therefore expect the rally to reach at least the September 21 high. However, they will try to get a reversal down from there, or from a double top with the September 10 or September 1 highs.<\/p>\n\n\n\n
Right now, the bulls and the bears have about the same probability. A reversal down from a double top will return the chart to a bear trend. The bulls need a couple closes above the September 1 high to convince traders that the rally will continue up to 1.25 at the February 2018 high.<\/p>\n\n\n\n
Today is Friday so it affects the appearance of the weekly chart. If the EURUSD closes the week right here, there would be a bull bar closing on its high on the weekly chart. That would make higher prices likely next week. <\/p>\n\n\n\n
Overnight EURUSD Forex trading<\/h3>\n\n\n\n
The 5 minute chart of the EURUSD Forex market has been rallying overnight. Day traders have only been buying. <\/p>\n\n\n\n
While the EURUSD has been sideways for a few hours, the trading range is only 15 pips tall. That is not enough for most bears to begin selling yet.<\/p>\n\n\n\n
The overnight high is exactly at Tuesday’s high, which was the top of a possible wedge bear flag. It is also just below the resistance of the September 2018 high. <\/p>\n\n\n\n
The bears would like to get a reversal down from here. Today would then be a sell signal bar on the daily chart for a micro double top. <\/p>\n\n\n\n
But with the pullbacks for 3 hours being less than 15 pips, it is more likely that today will break above Tuesday’s high. The September 2018 high is only 8 pips higher. If the EURUSD breaks above Tuesday’s high, it will probably continue to at least a little above the September 2018 high as well.<\/p>\n\n\n\n
Summary of today’s S&P Emini futures price action and what to expect tomorrow<\/h2>\n\n\n\n
I will post chart after the close.<\/p>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2020\/10\/Emini-trending-trading-range-day-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nHere are several reasonable stop entry setups for today. I show each buy entry with a green rectangle and each sell entry with a red rectangle. I rarely also show limit order entries and entries on the close of bars. I do not want the lines to be distracting. If they are longer, I make them dotted. But, they have to be visible, so I make the shorter ones solid. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a much more detailed explanation of the swing trades for each day (see Online Course\/BTC Daily Setups).<\/p>\n\n\n\n
My goal with these charts is to present an Always In perspective. If a trader was trying to be Always In or nearly Always In a position all day, and he was not currently in the market, these entries would be logical times for him to enter.<\/p>\n\n\n\n
If the risk is too big for your account, you should wait for trades with less risk or trade an alternative market like the Micro Emini.<\/p>\n\n\n\n
End of day summary<\/h3>\n\n\n\n
The Emini gapped up and rallied from a wedge bull flag near the EMA. There was a brief, strong breakout to a new high and then another trading range. Today was a trending trading range day. <\/p>\n\n\n\n
It is important to note that today was the 2nd consecutive daily close above the September 16 top of the month-long trading range. That increases the chance of at least slightly higher prices early next week. <\/p>\n\n\n\n
Furthermore, this week closed on its high. There were several gaps up on the weekly chart over the summer, even though most gaps closed. There is an increased chance of a gap up next week.<\/p>\n\n\n\n
See the weekly update<\/a> for a discussion of the price action on the weekly chart and for what to expect going into next week.<\/em><\/p>\n\n\n\n
\n\n\n\nTrading Room<\/h2>\n\n\n\n
Traders can see the end of the day bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. I talk about the detailed S&P Emini futures price action real-time throughout the day in the BrooksPriceAction.com trading room<\/a>. We offer a 2 day free trial<\/a>.<\/p>\n\n\n\n
\n\n\n\nCharts use Pacific Standard Time<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\nThe EURUSD Forex market on the daily chart has been rallying in a Small Pullback Bull Trend for 2 weeks after reversing up from below a trading range. The bulls want this to be a resumption of the 4-month bull trend. They need a breakout above the September 10 lower high to end the 2-month bear trend. The chart would then be back in trading range mode or in a bull trend.<\/p>\n\n\n\n
The bears always want the opposite. They know that a reversal up from a sell climax usually tests the start of the sell climax. They therefore expect the rally to reach at least the September 21 high. However, they will try to get a reversal down from there, or from a double top with the September 10 or September 1 highs.<\/p>\n\n\n\n
Right now, the bulls and the bears have about the same probability. A reversal down from a double top will return the chart to a bear trend. The bulls need a couple closes above the September 1 high to convince traders that the rally will continue up to 1.25 at the February 2018 high.<\/p>\n\n\n\n
Today is Friday so it affects the appearance of the weekly chart. If the EURUSD closes the week right here, there would be a bull bar closing on its high on the weekly chart. That would make higher prices likely next week. <\/p>\n\n\n\n
Overnight EURUSD Forex trading<\/h3>\n\n\n\n
The 5 minute chart of the EURUSD Forex market has been rallying overnight. Day traders have only been buying. <\/p>\n\n\n\n
While the EURUSD has been sideways for a few hours, the trading range is only 15 pips tall. That is not enough for most bears to begin selling yet.<\/p>\n\n\n\n
The overnight high is exactly at Tuesday’s high, which was the top of a possible wedge bear flag. It is also just below the resistance of the September 2018 high. <\/p>\n\n\n\n
The bears would like to get a reversal down from here. Today would then be a sell signal bar on the daily chart for a micro double top. <\/p>\n\n\n\n
But with the pullbacks for 3 hours being less than 15 pips, it is more likely that today will break above Tuesday’s high. The September 2018 high is only 8 pips higher. If the EURUSD breaks above Tuesday’s high, it will probably continue to at least a little above the September 2018 high as well.<\/p>\n\n\n\n
Summary of today’s S&P Emini futures price action and what to expect tomorrow<\/h2>\n\n\n\n
I will post chart after the close.<\/p>\n\n\n\n Here are several reasonable stop entry setups for today. I show each buy entry with a green rectangle and each sell entry with a red rectangle. I rarely also show limit order entries and entries on the close of bars. I do not want the lines to be distracting. If they are longer, I make them dotted. But, they have to be visible, so I make the shorter ones solid. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a much more detailed explanation of the swing trades for each day (see Online Course\/BTC Daily Setups).<\/p>\n\n\n\n My goal with these charts is to present an Always In perspective. If a trader was trying to be Always In or nearly Always In a position all day, and he was not currently in the market, these entries would be logical times for him to enter.<\/p>\n\n\n\n If the risk is too big for your account, you should wait for trades with less risk or trade an alternative market like the Micro Emini.<\/p>\n\n\n\n The Emini gapped up and rallied from a wedge bull flag near the EMA. There was a brief, strong breakout to a new high and then another trading range. Today was a trending trading range day. <\/p>\n\n\n\n It is important to note that today was the 2nd consecutive daily close above the September 16 top of the month-long trading range. That increases the chance of at least slightly higher prices early next week. <\/p>\n\n\n\n Furthermore, this week closed on its high. There were several gaps up on the weekly chart over the summer, even though most gaps closed. There is an increased chance of a gap up next week.<\/p>\n\n\n\n See the weekly update<\/a> for a discussion of the price action on the weekly chart and for what to expect going into next week.<\/em><\/p>\n\n\n\n Traders can see the end of the day bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. I talk about the detailed S&P Emini futures price action real-time throughout the day in the BrooksPriceAction.com trading room<\/a>. We offer a 2 day free trial<\/a>.<\/p>\n\n\n\n<\/a><\/figure>\n\n\n\nEnd of day summary<\/h3>\n\n\n\n
\n\n\n\nTrading Room<\/h2>\n\n\n\n
\n\n\n\nCharts use Pacific Standard Time<\/h3>\n\n\n\n