EURUSD 1 Hour: A Short & a Long Idea (Heavy News Today)

FX:EURUSD   Euro Fx/U.S. Dollar
The Euro             has finally broken out of it's consolidation, which may not be a good thing since us pattern formation traders had a pretty decent run over the past few days.

Anyway the LLLC leads me to make new predictions about the market and how I want to get involved. Technically speaking there are two opportunities that are on my radar. 1) A retest of previous structure support turned resistance for a bearish trade or 2) a move down to our lower level of support for a bullish trade.

We've got heavy news coming out in the form of Retail Sales & PPI this morning at 8:30 est, so the reaction (assuming the market gives us one) will most likely dictate which opportunity will become valid.

The key is that no matter what the market decided to do I have a plan for it. I have a plan to take a short. I have a plan to take a long, and I have a plan to stay out all together if my rules of engagement are not met.

Good luck out there today traders! Stay disciplined & stay positive!

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company
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Awesome mate, been waiting for this pair to fall. Cloud give us very nice long opportunity. Thank you Akil and all the best :)
+1 Reply
Akil_Stokes PRO moneymaking
Thanks...and yes movement equals opportunities and as traders that's all we can really ask for
+1 Reply
moneymaking Akil_Stokes
Definitely, as long as risk is under control, there should be no problem with putting money on the line :)
Thank you for sharing... I have taken more aggressive entry on this pair (as a DT on 60min chart). I did realize that it was in consolidation but RR at my entry point was to good to let it go plus it does meet my plan :-) since we did have solid SR at the entry point.
+2 Reply
Well done!
Akil, so Now that this report is out what do you feel about this one now
Thanks.Overall uptrend on 8 hr chart is broken by a strong candle fall towards 1.0940 is likely
There is no chance to come to China to teach courses deal? I am very interested in your skills.
+1 Reply
No all of our material is web based, that way anyone from anywhere in the world can access it
No7855 Akil_Stokes
URL where? I want to learn next
+1 Reply
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