I couldn’t have asked for a better start to this trading week. Unlike last week everything I’ve touched has turned to gold giving me a very nice cushion going into my first real day of active trading. There is a lot on my radar today including the EURJPY, USDJPY, USDCAD, NZDUSD & EURAUD, but I wanted to share my EURUSD idea with you guys since we’ve been tracking this pair a lot as of late (see related charts).
After pulling off massive profits on the big Gartley pattern, the Euro buyers is now giving some relief and I’m looking for an area where they might be interested in purchasing once again. My “A-Kill” zone rests from 1.1015’s-1.0920’s and I’ll be sure to keep a close eye on this pair in the live room looking for opportunities to get long. I do think we can retest our previous major structure level at 1.12’s but I would be sure to get at least partial profits off at a much safer level like 1.11’s for example.
Also, I’m not sure how many of you use the app Periscope, but I’ll be doing an interview with FXTC Magazine around 4:30pm (Eastern) and they said they were going to stream it live on there. First I’ve heard of the app, but if you’re not doing anything feel free to check it out.
Good luck today traders and remember “Plan Your Trade, Trade Your Plan!”
Nice, got that on the radar as well, there's a bearish one too
Shukz
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support at 1.10261? or is this still valid and wait?
Akil_Stokes
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You can certainly take a shot at that level as well if you choose
ProSignals
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it's still apply?
Akil_Stokes
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Sure
EverythingForex
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I like it when we agree, Akil! I have this pair dropping down to the 1.09600 area where it will hit my take profits on my short trade via a bearish shark pattern and book 152 pips profit. At around 1.09645, it will complete the bullish 5-0 pattern right smack in the middle of your "kill zone" and I'll be looking at PA for a chance to get long around there.
Akil_Stokes
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Nice, just remember the market does what it wants when it wants, so we never no what "will" happen. We can just make predictions, pray and sometimes yell at our computer and hope it listens
Don_Corleone
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This is sooo true.I really don't get it when traders say something like "It will go to that area and then it will bounce back to that area" No guys!U don't know where it will go=)Only god knows what is going to be tomorrow.Good luck/
EverythingForex
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Not sure if you are referring to what I wrote, Don but if you are, you got my message all wrong! I've been in this game long enough to KNOW that no one can say for sure where the market will go.I'm nowhere near foolish enough to think I control the markets direction just because I drew some shapes and lines on the chart. My point was IF prices got down to where I am PREDICTING it will, then "it will hit my take profits" and IF prices did get there, then "it will complete the 5-0 pattern". Got it now?