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![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/12\/ES-15.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
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EURUSD Forex market trading strategies<\/h2>\n
The EURUSD daily Forex charts is in nested trading ranges and therefore in breakout mode. The last clarity was the November rally, and therefore the odds slightly favor the bulls.<\/p>\n Traders, institutions, and governments are distracted by the holidays until January. This reduces the odds of big moves until then. However, the U.S. continuing budget resolution vote within the next week is a major catalyst. If the U.S. shuts the government down at some point over the next week, even if briefly, the dollar will probably fall for at least a couple of weeks. That would result in a break above the December 14 high and possibly above the November 27 high.<\/p>\n The Emini began with a trend from the open bear trend. Because of the extreme buy climaxes on the daily, weekly, and monthly charts, the odds favor about a 5% pullback beginning in the next few months. Yet, the bears need a strong reversal down, which they have not yet been able to create. Until they do, the odds are that every one of these many reversal will lead to higher prices. 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
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\nThe EURUSD daily Forex chart is in a 3 week trading range that is in a 2 month trading range. That is in a 5 month trading range withing a 2 year range. It is therefore in breakout mode. The last clear strength on the daily chart was the November rally. Consequently, the odds are slightly higher for a test of the November 27 top of the 2 month range than for a strong break below the neck line of the head and shoulders top. However, there is no evidence that the daily chart is about to break out up or down. Traders are buying every 1 – 3 day selloff and selling every 1 – 3 day rally. They are also taking quick profits. The result is a trading range.<\/p>\nOvernight EURUSD Forex trading<\/h3>\n
\nThe 5 minute chart has been in a 30 pip range overnight. The 2 day rally is testing the top of the 3 week trading range. Since the rally lacks momentum, day traders are scalping. They are waiting for a strong breakout up or down before they will swing trade on the 5 minute chart.
\n<\/p>\nSummary of today’s S&P Emini futures price action and what to expect tomorrow<\/h2>\n
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\nAfter reversing up from an Expanding Triangle, the bears got trend resumption down from a big double top bear flag. The day was a trading range day.<\/p>\n
\nThe Emini pulled back from Monday’s rally for the 3rd day. It closed the gap above Friday’s high, which means the gap is now an exhaustion gap. That does not mean the start of a bear trend. However, it is a sign that the bulls were not as strong this week as they could have been.<\/p>\n
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