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![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2018\/11\/Emini-gap-down-and-parabolic-wedge-bottom-and-wedge-top.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 High 1 bull flag after buy climax rally following wedge bottom<\/h2>\n
On the EURUSD daily Forex chart, today so far is a bull inside day after yesterday’s big outside down day. Today will be a buy signal bar for a High 1 bull flag.<\/p>\n If today remains a bull inside day and tomorrow trades above today’s high, but then reverses down from Monday’s high, the bears will have a micro double top. They hope that it would lead to a break below the November 12 wedge bottom and continue the 2 month selloff. Their goal is a 600 pip measured move down from the 6 month trading range. They have a 40% chance of success. <\/p>\n Since the 5 day rally was strong, the bulls will buy the 1st selloff, even if it is deep. For example, it might retest the October 31 low. There would then probably be a rally back up to at least this week’s high. Because the weekly chart has a wedge bull flag and the daily chart has a wedge bottom, the daily chart will probably trade sideways to up for at least a couple more weeks. In addition, the rally will probably test lower highs, like the November 7 high. <\/p>\n The daily chart will probably test the October 16 major lower high within a couple of months. This is because that was the start of the channel that followed the late September spike down. Typically, a Spike and Channel bear trend breaks above the bear channel, rallies to the beginning of the channel, and evolves into a trading range.<\/p>\n The bears want a reversal down from the overnight wedge rally. But, the best they probably can achieve is a transition into a 40 pip trading range. Day traders have been scalping overnight and they probably will continue today. <\/p>\n 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 Yesterday gapped down. A gap up at any point over the next several days will create an island bottom.<\/p>\n The market is closed tomorrow and I will be away on Friday. The bears want the week to close below last week’s low as a sign of strength. The bulls always want the opposite. 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 chart had a big outside down day yesterday. After a 5 day rally, the bears will probably need a micro double top if they will be able to continue the bear channel. <\/p>\nOvernight EURUSD Forex trading<\/h3>\n
\nThe EURUSD 5 minute Forex chart rallied 60 pips overnight from above yesterday’s low. Since the bulls have done enough to create a good buy signal bar, there is no incentive to rally much more today. Therefore today will probably enter a trading range for the rest of the day.<\/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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\nThe Emini gapped above yesterday’s bear channel. It then had a weak rally to above yesterday’s high. It spent most of the day in a tight range, then reversed down late. On the daily chart, today is a Low 1 bear flag sell signal bar for tomorrow.<\/p>\n
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Charts use Pacific Standard Time<\/h4>\n