Akil_Stokes
Short

EURUSD: Retest of Structure & Retest of Double Top

FX:EURUSD   Euro Fx/U.S. Dollar
3 months ago
EURUSD             is setting up almost identically to the Gold             and Silver             trading opportunities that we discussed in Tuesday's Syndicate video. Looking at a retest of a previous structure shelf that once was support and now is anticipated to show some resistance.

We've already double topped during the London session, which means that using the 2618 would be the perfect technique for those looking to get involved.

We have another jammed packed day of economic news events being released today especially from the GBP starting at 8am (New York             ). Thus far this week I've been on the wrong side of most moves but as we demonstrate time in and time out, the only way to get through a drawdown is to trade through it.

Easier said than done this week as I'll probably be shutting down shop soon, but I did get filled the Kiwi position so if I could get a positive win on that, it would be a great start to the drawdown healing process.

Lastly I'll probably be live on Youtube tomorrow during or right after the Non Farm Payroll release.
3 months ago
Trade active: Short at 1.1108
3 months ago
Comment: Mentioned this in the live room earlier, it's technically NOT a 2618 due to the invalid 2xtop but structure wise it's takeable in the same type of way
3 months ago
Order cancelled: Out for breakeven before NFP
3 months ago
Trade active: I re-entered the EURUSD at the same price point after the Non Farms release showed little reaction
3 months ago
Comment: Stops rolled to 1.1086, that locks in 18 pips of profit as the worst case scenerio
3 months ago
Comment: Stops rolled to 1.1065's as we came 5 pips shy of 1st profit targets
3 months ago
Trade closed: target reached: Initial target hit
Akil Stokes Trading Coach at Trade Empowered

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SteveNixon PRO
3 months ago
Nice to hear I'm not the only one on a draw down this week lol
+1 Reply
Akil_Stokes TOP SteveNixon
3 months ago
Yup not alone Steve. It's been a rough one. I knew I was due for it, but was hoping I could hold off until Thanksgiving
Reply
arif_awan SteveNixon
3 months ago
EURUSD two trades setup.
+1 Reply
Akil_Stokes TOP arif_awan
3 months ago
Thanks for the share
Reply
XIXtaj
3 months ago
Markets have been rough this week with all of the different major news events coming out. Hopefully things can settle down and we can get back to making money next week... With the exception of the Gong Show being held on next Tuesday in America.
+1 Reply
Akil_Stokes TOP XIXtaj
3 months ago
hahaha, that's a perfect way of putting it. I'm going to steal that "gong show" for my live room.
Reply
Roker1 PRO
3 months ago
Akil, what's your rules for correlating pairs? Can you trade two different correlatin pairs like Kiwi and eurusd?
+1 Reply
Akil_Stokes TOP Roker1
3 months ago
Yup, i look at each pair as an individual and never let what's happening on one pair affect my decisions on another. To me that's like betting on a sports match based on watching a different game
Reply
TomPower
3 months ago
It's amazing you can analyze this pair because it's been in a Range I think for 2 years now it's going nowhere.
+1 Reply
Akil_Stokes TOP TomPower
3 months ago
Exactly, what used to be one of the best pairs to trade has been completely dead
+1 Reply
TAJIR_B
3 months ago
keep it up. u r not alone
+1 Reply
Akil_Stokes TOP TAJIR_B
3 months ago
Thanks
Reply
Andy009
3 months ago
i have never been as flawless with my execution, yet lost soo many trades...went from hurting to crazy hysteria...i literally don't care anymore...I'm just gonna continue trading my plan. :)
+1 Reply
Akil_Stokes TOP Andy009
3 months ago
Amen, as Mike Bellafiore once said "all we can do is take one good trade at a time"
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trackman2000
3 months ago
spot on
+1 Reply
Akil_Stokes TOP trackman2000
3 months ago
Thanks
Reply
tomi_tomi
3 months ago
Look on M15 & M30. The tops are already there. I like the level 1.1090, to sell from there, based on the "look left, structure leaves clues"
+1 Reply
Akil_Stokes TOP tomi_tomi
3 months ago
Nice!
Reply
stiwart
3 months ago
Time to sell? 61,8% it's ther the price :)
+1 Reply
Kjetil_Johannesen PRO stiwart
3 months ago
I don't know Akil's rules, but another detail to keep in mind is the Risk/Reward.
I just got filled this, but higher than 61.8 due to my stoploss and target rules. I want to ensure at least a 1:1 when using this strategy.
Reply
Akil_Stokes TOP stiwart
3 months ago
It's only time to sell when your rules of engagement are met
Reply
jindrake
3 months ago
Nice resistance lines
+1 Reply
Akil_Stokes TOP jindrake
3 months ago
Thank you
Reply
Ian.Watts
3 months ago
Hi Akil this is the trade i was talking to Jeff about on the 12 week chat thanks for posting it.
+1 Reply
Akil_Stokes TOP Ian.Watts
3 months ago
Yup, i saw that this morning. Really good spot Ian, we have a few pairs acting like this. Ashame that tomorrow is a big news release
Reply
StarProsper PRO
3 months ago
Awesome coach, love this chart and analysis. As I read through the comments, everyone seems to be going through a Drawdown and I've been Trading through it currently myself. One good Trade is something I keep seeing also, wonderful book full of wonderful Traders. Keep the plan close by and money will eventually fly. Getting close to ending on a good year.
+1 Reply
Akil_Stokes TOP StarProsper
3 months ago
Yup, it's important the we remember trading is a marathon not a sprint. There will be ups and downs. All that matters is that we're continuously moving in a positive direction, big picture wise
Reply
Roker1 PRO
3 months ago
Hey Akill, if you were half way to your stop loss (so in a negative position) would you cancel the order anyway?
+1 Reply
Akil_Stokes TOP Roker1
3 months ago
Yes, if I were close to my stop I would not have however
Reply
social_junkie1992
3 months ago
Hello Akil, why did you cancel the order and out for breakeven ?

I've done that aswell now lol but I am just wondering what prompted you to cancel the order ?
+1 Reply
Jerry_V social_junkie1992
3 months ago
Why did you cancel? :)
+1 Reply
Akil_Stokes TOP Jerry_V
3 months ago
Due to the non farm payroll release
Reply
Jerry_V Akil_Stokes
3 months ago
Hi Akil, yes I read the description :). It was meant as a question and thought for social_junkie if she knew why she cancelled and not just follow you or anybody blindly. There is no progress in that.
+1 Reply
Akil_Stokes TOP Jerry_V
3 months ago
Ooops, sorry i didn't even see who the response was for. Sorry about that
Reply
Akil_Stokes TOP social_junkie1992
3 months ago
Hey, i cancelled due to the non farm payroll and other jobs number releases this morning. Traditionally those are economic events that drive the market nuts. Today we saw very little reaction however
Reply
SiamSamuhatananon
3 months ago
short again?
+1 Reply
Akil_Stokes TOP SiamSamuhatananon
3 months ago
Yup, since there was no real reaction from this mornings news release I resumed my original position
Reply
NepaliHercules
3 months ago
what's ur stoploss?
+1 Reply
Akil_Stokes TOP NepaliHercules
3 months ago
an atr above previous structure highs
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azlans
3 months ago
maybe u should use line chart to find the resistance. The analysis look good..maybe @ 1.11500 something. :)
+1 Reply
Akil_Stokes TOP azlans
3 months ago
Thanks for sharing your opinion
Reply
pip_train PRO
3 months ago
Looks like another failure or a bad entry on your level, because of not understanding 2nd touch and where support lost of the previous leg actually is. In an effort to help educate those interested in using Fibs properly, I will show you. Often most traders make the mistake of drawing Fibs from the swing high and the swing low, but this in incorrect. The proper way is to draw from the first significant level of support lost before the swing high down to the swing lo (or visa versa).
snapshot
As demonstrate in the chart I've included, we can see how by doing this, significant levels are properly designated by Fibs, and as it just so happens, the next untested Fib level @ .618 was where price lost support and left it untested. So what should happen? Price rejection. Now if you're smart, you may have intuitively realized that Fibs (when drawn properly) indicate nothing more than levels of significance.

+3 Reply
Akil_Stokes TOP pip_train
3 months ago
Thank you for sharing your opinion
Reply
pip_train PRO Akil_Stokes
3 months ago
There is a difference between opinion and fact. Another example. Do you need more facts?
snapshot
+1 Reply
pip_train PRO pip_train
3 months ago
Wait a second, maybe I don't really know what I was saying and just a coincidence. Let's break down the leg and see if it still works?
snapshot


Oh yeah, again draw from where support was gained and then lost, (not the swing high) and where does price settle? the 1.618? If only I understood what those fib things were.
+1 Reply
Akil_Stokes TOP pip_train
3 months ago
I appreciate you sharing your thoughts. Please understand just because I don't personally agree with you doesn't mean I'm saying you're wrong so please don't take offense. At the end of the day all that matters is that a trader is able to be consistently profitable over time.
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Akil_Stokes TOP pip_train
3 months ago
As I mentioned before, thank you for sharing your opinion.
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Raphael
3 months ago
LONG EURUSD - POTENTIAL TARGET BULLISH GARTLEY PATTERN
+1 Reply
Akil_Stokes TOP Raphael
3 months ago
Thanks for the share!!
Reply
Raphael
3 months ago
hi akil
I really appreciate your experience and all your educational videos that really really helped me , you are absolutely genius , this's one of my expectations that I've got from what I've learned from you , I hope it's valid pattern , it's few pips of reaching the target

Again Thank you akil
+1 Reply
Akil_Stokes TOP Raphael
3 months ago
No problem, it doesn't look to be any pattern formation that i trade, but i tend to stay way from those that complete beyond X such as butterflies and crabs.
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Akil_Stokes TOP Raphael
3 months ago
They just don't mesh well with my philosophy on the markets
Reply
sjcwealth
3 months ago
You were featured on TradingView Weekly Show (tv) and that is why I came across your chart.
+1 Reply
Akil_Stokes TOP sjcwealth
3 months ago
Sounds pretty cool, I'll ave to check it out! Thanks for letting me know
Reply
Dheeni sjcwealth
3 months ago
could you please share a link to the show if you have? Would like to watch that.
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Ian.Watts
3 months ago
Thanks for sharing your opinion Akil lol
+1 Reply
Akil_Stokes TOP Ian.Watts
3 months ago
You're the worst Ian lol
Reply
Kareem
3 months ago
Hey Akil, is this a trend continuation trade with targets at a retest of lows, or targets at the 382?
+1 Reply
Akil_Stokes TOP Kareem
3 months ago
No this is not a trend continuation trade
Reply
FabianoGollo PRO Akil_Stokes
3 months ago
Thanks to both of you, i was going to ask the same question.
Reply
now it's a free pain trade
+1 Reply
Akil_Stokes TOP AbdElrahmanSamy
3 months ago
Indeed it is...and it's About time
Reply
HendrikTL
3 months ago
Hi Akil, what is you ATR settings for the stop loss? My atr was at 15 so the sl at 1.1041 got stopped out right at the top...
+1 Reply
Akil_Stokes TOP HendrikTL
3 months ago
I use both a 7 period ATR and RSI on my charts
+1 Reply
HendrikTL Akil_Stokes
3 months ago
Perfect, thanks
Reply
eightpac
3 months ago
Nice trade! I didn't get in on this one, as I am short the EURCAD and I would have had to much risk on my small account but your ideas and coaching are a big help as I learn to trade!
+1 Reply
Akil_Stokes TOP eightpac
3 months ago
Thank you!!
+1 Reply
eightpac Akil_Stokes
3 months ago
Anytime, just got stopped out EURCAD for 158 pips of profit, thought it would retest lows on the daily but I won't complain! You all are great coaches and mentors at TE, the old me probably would have took a loss on this trade lol
Reply
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