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![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2018\/09\/Emini-failed-breakout-above-8-day-bear-micro-channel.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. 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 in a position at the moment, these entries would be logical times for him to enter.<\/p>\n
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EURUSD Forex head and shoulders top and triangle bull flag so Breakout Mode<\/h2>\n
The EURUSD daily Forex chart has been in a trading range for 3 weeks. There is therefore both a buy setup and a sell setup. The bears have a head and shoulders top and the bulls have a triangle bull flag.<\/p>\n The August reversal was strong and the weekly chart is probably having a 7 month pullback in a bull trend. Consequently, the odds ultimately favor a bull breakout. But, until there is a breakout, there is no breakout. Traders will expect every strong 3 – 5 day move up or down to reverse.<\/p>\n While the bulls have a triangle bull flag, triangles are not high probability setups. The initial breakout up or down reverses 50% of the time. In addition, the successful breakout has almost an equal chance of being up or down. There is therefore a 50% chance of a break below 1.15 before a test of the 1.1750 top of the 5 month range. However, there will probably be buyers above 1.14.<\/p>\n <\/p>\n <\/p>\n Here are several reasonable stop entry setups for today. I sometimes also show limit order entries and entries on the close of bars. 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 in a position at the moment, these entries would be logical times for him to enter.<\/p>\n However, it is in a 4 day tight trading range. Furthermore, it has not yet pulled back to the bull trend line, which is now around yesterday’s low. Therefore, unless there is strong follow-through buying this week, the odds will continue to favor a test of that bull trend line before the bull trend resumes. 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 triangle and therefore in Breakout Mode. Furthermore, that triangle is in a 5 month trading range. Since there is no sign of an impending breakout, traders will take profits after 2 – 5 days and look for reversals.<\/p>\n3 week Triangle means Breakout Mode<\/h4>\n
Overnight EURUSD Forex trading<\/h3>\n
\nThe EURUSD 5 minute Forex chart sold off 80 pips overnight after a rally for a day and a half. Big Up, Big Down creates Big Confusion. Therefore, the selloff will probably disappoint the bears, just like reversal down from the the rally disappointed the bulls. Today will probably be a trading range day in the middle of a 7 day tight trading range.<\/p>\nSummary of today’s S&P Emini futures price action and what to expect tomorrow<\/h2>\n
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\nThe Emini reversed up from below yesterday’s low and broke above yesterday’s high. It therefore was an outside up day, which is a sign of strong bulls. It also formed a micro double bottom with Friday’s low. <\/p>\n
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