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![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2018\/07\/Emini-island-top-and-braod-bear-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 pullback in bear rally<\/h2>\n
The EURUSD daily Forex chart has sold off for 3 days after a lower high double top with the June 14 high. <\/p>\n The bulls will buy a micro double bottom between 1.1600 and 1.650 over the next week. They will look for a test of the June 14 high at around 1.1850. The odds are that the bear rally will continue up to the May 14 high and 1.2000 over the next couple of months. <\/p>\n The bears will probably need to get to the June 14 sell climax high before they can resume the bear trend. However, if they get 2 closes below the June 21 low, then traders will expect a 300 pip measured down below the 3 month range. <\/p>\n Because the daily chart is now around a 50% retracement of the 4 week rally, bulls are beginning to buy. This is the buy zone. There is therefore an increased chance of a bull trend day today or tomorrow. More likely, yesterday’s selloff created a Big Up, Big Down pattern on the daily chart. That usually results in at least a few sideways days.<\/p>\n It is unlikely that the bear trend is resuming on the daily chart. But, if the bears get 2 – 3 consecutive big bear days, the 2 month trading might be ending. Traders will swing sell in the unlikely event of a big bear trend day today. <\/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 The bears will try to continue the 6 month range. Even if there is a small breakout above the March 13 high, the bears will sell. Therefore, traders are looking for either a reversal down from this level or a strong breakout above. Either will likely continue for at least a month. 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 sold off for 3 days from around the EMA and the June 14 high. But, the selloff so far lacks consecutive big bear bars. In addition, it is around a 50% pullback from the June 9 rally. Finally, the June 14 sell climax high is a strong magnet. Therefore, the selloff will more likely stall and become a higher low in the 2 month trading range. <\/p>\nOvernight EURUSD Forex trading<\/h3>\n
\nThe EURUSD 5 minute Forex chart was in a 20 pip range during the Asia session. The range expanded to 30 pips in Europe. This represents weak follow-through selling after Wednesday’s bear trend. <\/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 brief sharp selloff, the Emini rallied in a bull channel to above the 2800 Big Round Number. It then entered a tight trading range. A more important target is the March 13 high of 2811.00. That is the top of the 6 month trading range. If the bulls can rally 10 – 20 points above it, the rally will likely make a new all-time high.<\/p>\n
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