EURUSD: Looking for Shorts at this decision point

FX:EURUSD   Euro Fx/U.S. Dollar
If you saw my post yesterday then you know that I’ve been waiting for a potential short on this pair. (Here’s the video link explaining the trade https://www.youtube.com/watch?v=Qxi7KNW-38M) My initial killzone was pretty large and after a brief test of the bottom levels of it, price has rallied back to the top providing me with the opportunity that I was waiting for.

The reason I didn’t enter the trade yesterday was strictly due to the fact that I wouldn’t get the risk reward that I wanted. Risk reward will still be difficult at this level because of how close the structure levels are but if I’m able to get the entry that I want, my stops may be short enough to make it work.

The London session extension gave us another equal measured move back into structure looking left and some Fibonacci extensions. The bulls gave a nice test of the highs and were beaten back after the first attempt to break through. As I type I’m watching this on the 15 minute chart waiting for a reason to enter, all depending on how this current candle completes. For targets I’ll be looking for a move back down into our previous new structure highs, and certainly looking to aggressively manage this one during my live trading room hours. We’ll see how this one pans out

“Plan Your Trade, Trade Your Plan”

Akil Stokes
Chief Currency Analysis at Trade Empowered
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Hey Akil! What about this zone?
+2 Reply
That zone looks pretty good, I'm always a fan of structure
I am looking the same opportunity as well. Nice setup Akil!
+1 Reply
We;ll see, i expect a fight at this level. it'll be interesting to see what decision the market makes
+1 Reply
RCP Akil_Stokes
Yes, it will be interesting battle. Btw I was thinking to go short at the structure support, but I saw the momentum bulls pushing up so hard, I better watch what the market does and then make a decision. Think I did well.
+2 Reply
Yeah, if you followed your plan, then you can't go wrong. Sometimes waiting for a conservative entry is a lot better than jumping right on
+1 Reply
May I know where should I put my SL? I'm looking at 1.116 but I afraid if it is too tight. Any advice?
+1 Reply
What do your rules say about where to place stops on this type of trade?
+2 Reply
Some hidden divergence on the 15M maybe signalling some weakness...
+1 Reply
Akil_Stokes PRO SmartTradingFX
do you mean regular divergence?
+1 Reply
SmartTradingFX Akil_Stokes
Similar to what your looking at on this pair Akil...
EURGBP: Potential Structure Based Short Opportunity
+1 Reply
Akil_Stokes PRO SmartTradingFX
hidden divergence is used in trend continuation situations, so i think you meant regular divergence
+1 Reply
Hello Akil...
I have a question.. I tried to take the position as the Chart I attached (GBPUSD). I found there was a double top and fibonaci retracement has arrived at 61.8
However, I got Stop at a few candles later.
my question are:
was it a bad trade?
was my profit target too far?
was my stoploss too close?

+1 Reply
Akil_Stokes PRO hansmeister
I don't see any attached chart, so I would say this, as long as you didn't make any mistakes in the analysis or the execution of the trade, you've got to journal it in as a "good" trade. B
hansmeister Akil_Stokes
Thanks :)
I'm targetting 1.1225 and 1.1280, getting close, seeing if 1.1200 holds, any minute now...
+2 Reply
nice, good luck!!!
This zone was faild Akil :(
+1 Reply
Indeed it was, barely put up a fight
Akil, if "you look to your left".... ;) It did put up a fight on a higher resistance level. One that, in my opinion, was much more likely to be tested. A really strong one.
Or what do you say?
+1 Reply
Akil_Stokes PRO Henrik-HarmonicTrader-Europe
Yes, the higher level did put up a fight. But I think the trader was talking about the initial level that I mentioned in the post, where give gave once strong hold but blew past on the second attempt
Yeah, I know. I´m just messing with you. =)
+1 Reply
Akil_Stokes PRO Henrik-HarmonicTrader-Europe
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