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![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2018\/10\/Emini-wedge-bear-channel.png\" "\\"\\"")
<\/a><\/p>\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. 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
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EURUSD Forex double bottom in bottom of 3 week trading range<\/h2>\n
The EURUSD daily Forex sold off for 3 days and is trying to form a double bottom with the October 9 low.<\/p>\n The 4 day selloff has been climactic and in a parabolic wedge on the 240 minute chart. Traders will look for the selling to dry up within a few days. They then expect a base and a rally that retraces about half of this week’s selloff. <\/p>\n There is no sign that the 3 week range or the 6 month range is about to convert into a trend. After a sell climax this week down to support, day traders expect a trading range day and then a bounce. The bulls might need a micro double bottom on the daily chart before the next leg up. 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. 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 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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\nAfter 2 big bear days down from a small wedge higher low, the EURUSD daily Forex chart is testing the October 9 low. While it might briefly break below that low over the next week, the odds are against a break below the April 15 low. Therefore, traders will begin to look for a 1 – 2 week leg up in the 3 week trading range. That trading range is in the middle of a 6 month trading range. Since trading ranges resist breaking out, traders will continue to look for reversals after every strong 1 – 3 week move up or down. <\/p>\nOvernight EURUSD Forex trading<\/h3>\n
\nThe EURUSD 5 minute Forex chart has been in a 40 pip range overnight. It reversed up from 1 pip above the October 9 low. <\/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 an early buy climax, the Emini traded down in a wedge bear channel. It spent the 2nd half of the day between the open of the day and the open of the week. Since today closed near both, today was a doji bar on the daily chart and this week was a doji bar on the weekly chart. This is a sign of a neutral market. Traders are still deciding if last week’s selloff was a bear trap or the start of a swing down.
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\nTrading Room<\/h4>\n
Charts use Pacific Standard Time<\/h4>\n