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![\"emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/11\/ES-13.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 has pulled back for 6 days from a strong rally. The odds favor at least a test up to last week’s high. The bears want the 6 day pullback to continue into a reversal of last week’s rally.<\/p>\n The bears need a strong break below support, and especially below the November 7 major higher low. However, the strong bull trend on the weekly chart make the bear breakout unlikely without at least a double top with last week’s high or a stronger reversal down.<\/p>\n The past 4 days have had small bodies and ranges, and reversed every day. This is trading range price action. Therefore, the 6 day selloff is more likely a bear leg in a small trading range than the start of a bear trend. The odds favor a test back up within a week. However, yesterday and today have been small days. Furthermore, tomorrow is a holiday. The odds are that today will be another small day.<\/p>\n Today was a small trading range day that closed around the middle. It is a continuation of the pullback that began shortly after yesterday’s rally. <\/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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\nThe EURUSD daily Forex chart reversed down over the past week from a strong rally. The reversal down is not as strong as the rally. In addition, it is stalling at support. The prior highs and lows over the past 4 months provide support. So do the 50% pullback, the 20 day EMA, and the 20 week EMA (not shown). The odds are that the bulls will try to get a 2nd leg back up to test the October 12 major lower high.<\/p>\nOvernight EURUSD Forex trading<\/h3>\n
\nThe 5 minute chart has been in a 50 pip range for more than 24 hours. There is no sign of a breakout. While the odds favor a 100 pip rally back up to last week’s high, day traders will continue to scalp until the momentum up or down increases.
\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 2 day pullback from yesterday’s strong rally, the odds still favor at least a small 2nd leg up. However, Friday closes early and it will also likely be another small day.
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