EURUSD: Next Potential Shorts Part II

FX:EURUSD   Euro / U.S. Dollar
Yesterday a posted a chart showing some analysis that I did on the $EURUSD trying to predict the next shorting opportunity. Although price action reached my killzone, it didn't rally high enough for me to get short.

Later in the day the market completed a "pain free" bullish Cypher formation, and the ensuing rally has provided me with another opportunity to look for potential shorts in my original killzone with the difference being that this time I know I have an aggressive reason to get short due to the potential Bearish Advanced             Gartley Formation.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company

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Comment: News to pay attention to today (New York Time)

EUR-Minimum Bid Rate (7:45)
USD-ADP Non-Farm Employment Change (8:15)
EUR - ECB Press Conference (8:30)
USD - Unemployment Change (8:30)
Trade closed: target reached: 1st Targets hit
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Forget the 'Bearish Advanced Gartley'.

This is a plain and simple failed re-test of a recent high.
+1 Reply
You are correct Mustard, it is a failed retest of previous structure resistance as well
Hey Akil! Just curiosity, I didn't took this one because it didn't fit my trading plan, but l see that it did hit your TP. Seems like you move your TP as price action moves to your stop right? Doesn't that mess out with your RR? Or we have different datas :p Either way, keep it up bro
+1 Reply
Akil_Stokes JeanConsole
Hey Jean, yes adjust your targets will skew the original Risk Reward ratio
Good call with the TP! Spot on. Thanks.
+1 Reply
Akil_Stokes SebastianRasch
Do you see this as a valid Cypher, i can´t desside if the B leg is valid or not? I´n my opinion its not enough of a move to be a outside return?
+1 Reply
Akil_Stokes ThomasJeff_DCM
I haven't measured it out yet, but yes that "b" leg would work fine for me thomas
ThomasJeff_DCM Akil_Stokes
Thanks a lot for your anwser, well news just trew in a huge candle.. ohh these markets
+1 Reply
Akil_Stokes ThomasJeff_DCM
No problem Thomas!
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