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![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2018\/08\/Emini-small-pullback-bull-trend-after-yesterdays-outside-up.png\" "\\"\\"")
<\/a><\/p>\nHere are several reasonable stop entry setups from Friday. 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 has 5 consecutive bear trend days<\/h2>\n
The EURUSD daily Forex chart has a bear trend day so far today today. If it remains a bear day, it will create the 1st streak of 5 consecutive bear days since May 18. Even if it does not, there have not been 4 consecutive trend days up or down in the entire 3 month trading range. This increases the chances of a successful bear breakout.<\/p>\n All trading ranges eventually breakout, even though most attempts lead to reversals and a continuation of the range. This breakout attempt is different. Whenever a trading range begins to have a streak of 4 or 5 consecutive trend days up or down, the odds are that a successful breakout is about to happen. Here, the bear days are a sign of sustained selling pressure. Therefore, traders should expect a break below 1.15 within the next week. This is true even if there is a 100 pip reversal up to around the 20 day EMA 1st. Therefore, traders will sell rallies. <\/p>\n Furthermore, traders will look for the selloff to fall for about a measured move down. Since the 3 month range is about 300 pips tall, traders will look for the move to reach around 1.12 over the next few months. Unless the bulls create a very strong reversal up before then, the odds are that the bear trend is resuming.<\/p>\n Every trend will have many reversal attempts. But, my 80% inertia rule also applies to trends. Once a market is in a trend, 80% of reversal attempts will fail and become bear flags. While the daily chart is still in its 3 month range, it is also in an early bear trend. Therefore, day traders will look to sell 50 – 100 pip rallies this week. They expect each to lead to a new low. <\/p>\n Because the selloff on the 5 minute chart was not climactic, bull day traders are buying reversals for 10 – 20 pip scalps. The bears will sell rallies for scalps and swings. <\/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 If the bulls get a breakout above today’s triangle, the triangle would likely be a Final Bull Flag. The result would be a pullback into the triangle on the 5 minute chart. However, the bull trend is strong enough to make a bear swing unlikely without at least a micro double top on the daily chart. 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 had its 4th consecutive bear trend day on Friday. This is the 1st streak of 4 trend days up or down in the entire 3 month trading range. So far, today is another bear trend day. The last streak of 5 consecutive trend days up or down came during the May collapse. <\/p>\nOvernight EURUSD Forex trading<\/h3>\n
\nThe EURUSD 5 minute Forex chart sold off 40 pips overnight. While the past 5 days have not been big bear days, the number of bear days is important. A chart has 2 variables, price and time. Many trends begin with time (a streak of trend days) before price. Traders now believe that there will be a successful breakout below the 3 month range. <\/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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\nWhile the 3 day rally has been strong, it is also a buy vacuum test of the July high and the 2850 Big Round Number. Furthermore, the Emini had its 3rd consecutive day in a tight bull channel on the 5 minute chart. This is unusual and therefore climactic. The odds favor a pause for 1 – 1 1\/2 days starting within 2 days. <\/p>\n
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