EURUSD: Retest of Structure & Retest of Double Top

FX:EURUSD   Euro / U.S. Dollar
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.
Trade active: Short at 1.1108
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
Order cancelled: Out for breakeven before NFP
Trade active: I re-entered the EURUSD at the same price point after the Non Farms release showed little reaction
Comment: Stops rolled to 1.1086, that locks in 18 pips of profit as the worst case scenerio
Comment: Stops rolled to 1.1065's as we came 5 pips shy of 1st profit targets
Trade closed: target reached: Initial target hit
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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
Thank you!!
+1 Reply
eightpac Akil_Stokes
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
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
I use both a 7 period ATR and RSI on my charts
+1 Reply
HendrikTL Akil_Stokes
Perfect, thanks
now it's a free pain trade
+1 Reply
Akil_Stokes AbdElrahmanSamy
Indeed it is...and it's About time
Hey Akil, is this a trend continuation trade with targets at a retest of lows, or targets at the 382?
+1 Reply
No this is not a trend continuation trade
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