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![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2018\/06\/Emini-wedge-bull-flag-opening-reversal.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 chart broke below yesterday’s low. But, yesterday was a bear doji in a tight trading range, and the past 4 days had prominent tails below. This is a weak ioi bear flag. An ioi is an inside bar after an outside bar. The outside bar means that the bar before is inside of the outside bar.<\/p>\n The bulls hope that this week’s low will be the bottom. But, they need a strong bull bar today or tomorrow for a buy signal bar. They would then have a High 2 bottom with Monday’s bull bar. That would be a reasonable bottom because it would be a 2nd reversal up from below the May low. In addition, the daily chart is at the support of the November 7 low.<\/p>\n While yesterday was a bear inside day, it was a doji bar. Therefore, it is a weak sell signal bar. Yet, if the bulls cannot create bull bars today or tomorrow, the odds favor at least slightly lower prices. <\/p>\n The minimum goal for the bears is a 100 point measured move down based on the height of the 4 day bear flag. They have a 40% chance of a 300 pip measured move down based on a failed double bottom attempt. There is a 60% chance of at least a 200 pip rally before the daily chart falls more than 100 pips below the May 29 low.<\/p>\n The 240 minute chart is forming a wedge bottom over the past 5 days. Therefore, the bulls will look for a strong rally and a test of the top of the wedge today or tomorrow. That is just above 1.1700. The Emini sold off on the open. After a 4 hour trading range, the bears got trend resumption down. However, the bulls again reversed up from just above the May 22 high.<\/p>\n The bears need a break far below the May 22 high. They then would look for a test of the next higher low, which is the May 29 low.<\/p>\n Tomorrow is Friday and this week’s open and last week’s low are the most important weekly magnets for tomorrow. 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 strong bear trend. However, it is also in the early stages of a trading range. It is looking for the bottom of the range. <\/p>\nOvernight EURUSD Forex trading<\/h3>\n
\nThe EURUSD 5 minute Forex chart reversed up 40 pips after breaking below yesterday’s low. However, the bulls need a continuation of the rally. Without that, the rally will be a bull leg in a trading range rather than the start of a swing up. <\/p>\n
\n<\/p>\nSummary of today’s S&P Emini futures price action and what to expect tomorrow<\/h2>\n
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\nAfter a sell climax on the open, the bulls got a trading range. But, the bears then got trend resumption down. Yet, they were unable to break below the May 22 high. The bulls got a 2nd reversal up from that support at the end of the day.<\/p>\n
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