\n
![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/09\/ES-10.png\" "\\"\\"")
<\/a><\/p>\nHere are several reasonable stop entry setups from yesterday. I sometimes also show limit order entries and entries on the close of bars.<\/p>\n
<\/p>\n
EURUSD Forex market trading strategies<\/h2>\n
The EURUSD daily Forex chart is in a triangle and therefore in breakout mode.<\/p>\n A strong bull trend usually does not reverse into a bear trend. However, if could selloff several hundred pips in what would then become a trading range. This is what is likely over the next few months. The daily chart is simply deciding if the September high is the top of the incipient trading range or if there will be one more brief leg up.<\/p>\n <\/p>\n The Emini was in a small range for most of the day and therefore the odds favored a breakout. The bulls got a Buy The Close finish to close the week around the open. However, there was a sharp brief reversal down and the week closed below the open and below 2500.<\/p>\n The weekly chart formed a sell signal bar this week. However, it was only a bear doji. In addition, the channel is tight. Therefore any reversal down will probably lead to a trading range and not a bear trend. See the weekly update<\/a> for a discussion of the price action on the weekly candlestick chart and for what to expect going into next week.<\/p>\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<\/a><\/p>\n
\nThe daily EURUSD Forex chart is in a triangle in a bull trend. It is also likely in a trading range that began with the August 17 low. The odds are that EURUSD market will test that low within a couple of months. However, it might have one more leg up first. A triangle late in a bull trend is usually the final bull flag. This means that if the bulls get a rally above, the rally will typically fail at around a measured move up. Th initial target of a reversal down is the apex of the triangle. However, since the rally from the August 17 low is the start of a channel, it is also a target.<\/p>\nOvernight EURUSD Forex trading<\/h3>\n
\nThe 5 minute chart rallied and sold off in a 45 pip range overnight. Since the daily chart is at the apex of a triangle, a strong breakout of 200 pips or more can begin at any time. However, when a market is in a tight range, the odds are that the range will continue. Therefore, even though s breakout is likely soon, the odds are that every day will be a trading range. Once the breakout begins, day traders will switch from scalping to swing trading.<\/p>\nSummary of today’s S&P Emini futures price action and what to expect tomorrow<\/h2>\n
\n<\/a><\/p>\n
\nBy breaking below yesterday’s low, today triggered a sell signal on the daily chart. However, since today was not a big bear day, it was a week entry bar for the bears. The odds are that the Emini will continue in its 5 day tight range again on Monday. <\/p>\n
\n<\/p>\n
\n